Los Angeles Capital Management LLC lessened its stake in shares of United Rentals, Inc. (NYSE:URI – Free Report) by 21.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,581 shares of the construction company’s stock after selling 710 shares during the quarter. Los Angeles Capital Management LLC’s holdings in United Rentals were worth $2,217,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Capital International Investors increased its position in United Rentals by 22.8% during the 3rd quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock worth $3,247,762,000 after purchasing an additional 631,484 shares in the last quarter. Capital World Investors boosted its stake in United Rentals by 6.7% in the 3rd quarter. Capital World Investors now owns 2,678,614 shares of the construction company’s stock worth $2,557,158,000 after buying an additional 168,685 shares during the last quarter. Franklin Resources Inc. boosted its stake in United Rentals by 6.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,315,086 shares of the construction company’s stock worth $1,255,460,000 after buying an additional 83,978 shares during the last quarter. Norges Bank acquired a new stake in United Rentals in the 4th quarter worth about $978,017,000. Finally, Alliancebernstein L.P. boosted its stake in United Rentals by 5.6% in the 3rd quarter. Alliancebernstein L.P. now owns 1,088,209 shares of the construction company’s stock worth $1,038,870,000 after buying an additional 57,977 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.
Insider Buying and Selling
In related news, VP Andrew B. Limoges sold 548 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $977.86, for a total transaction of $535,867.28. Following the transaction, the vice president directly owned 1,865 shares of the company’s stock, valued at approximately $1,823,708.90. The trade was a 22.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Joli L. Gross sold 306 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $954.99, for a total value of $292,226.94. Following the transaction, the senior vice president directly owned 5,738 shares in the company, valued at $5,479,732.62. This trade represents a 5.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 26,088 shares of company stock valued at $25,628,877. Insiders own 0.47% of the company’s stock.
United Rentals Stock Performance
United Rentals (NYSE:URI – Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing the consensus estimate of $11.47 by ($1.76). The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.20 billion. United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The business’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm posted $8.86 earnings per share. Equities analysts predict that United Rentals, Inc. will post 47.07 EPS for the current year.
United Rentals Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were given a dividend of $1.97 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $7.88 annualized dividend and a yield of 0.7%. United Rentals’s payout ratio is 20.10%.
Analysts Set New Price Targets
URI has been the topic of a number of research analyst reports. Barclays raised their price target on United Rentals from $600.00 to $715.00 and gave the stock an “underweight” rating in a research note on Friday, April 24th. Truist Financial set a $1,209.00 price target on United Rentals in a research note on Friday, April 24th. Citigroup raised their price target on United Rentals from $950.00 to $1,130.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. UBS Group lifted their price objective on United Rentals from $1,025.00 to $1,145.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. Finally, Royal Bank Of Canada lifted their price objective on United Rentals from $1,041.00 to $1,119.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Twelve equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,013.63.
Check Out Our Latest Research Report on URI
About United Rentals
United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.
The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.
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