Douglas Lane & Associates LLC reduced its position in shares of United Rentals, Inc. (NYSE:URI – Free Report) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,526 shares of the construction company’s stock after selling 596 shares during the period. Douglas Lane & Associates LLC’s holdings in United Rentals were worth $10,233,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC increased its holdings in shares of United Rentals by 82,462.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock worth $1,300,962,000 after buying an additional 1,604,715 shares during the last quarter. Marshall Wace LLP grew its position in United Rentals by 259.3% in the second quarter. Marshall Wace LLP now owns 150,152 shares of the construction company’s stock worth $97,108,000 after acquiring an additional 108,360 shares during the period. JPMorgan Chase & Co. grew its position in United Rentals by 15.4% in the third quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock worth $637,968,000 after acquiring an additional 105,287 shares during the period. AGF Management Ltd. increased its stake in United Rentals by 4,778.7% during the second quarter. AGF Management Ltd. now owns 103,672 shares of the construction company’s stock worth $67,048,000 after acquiring an additional 101,547 shares during the last quarter. Finally, FMR LLC raised its position in United Rentals by 3.7% in the third quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock valued at $1,956,768,000 after purchasing an additional 85,325 shares during the period. 96.26% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on URI shares. Argus increased their price target on United Rentals from $840.00 to $880.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. lifted their price target on shares of United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Citigroup upped their price objective on shares of United Rentals from $955.00 to $985.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Truist Financial increased their price objective on shares of United Rentals from $955.00 to $965.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Bank of America boosted their target price on United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $817.08.
Insider Activity
In related news, SVP Anthony S. Leopold sold 900 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $823.24, for a total value of $740,916.00. Following the transaction, the senior vice president now owns 2,044 shares of the company’s stock, valued at $1,682,702.56. This represents a 30.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.53% of the company’s stock.
United Rentals Stock Down 2.0 %
Shares of NYSE URI opened at $671.38 on Thursday. The stock has a market cap of $44.06 billion, a P/E ratio of 17.53, a PEG ratio of 1.83 and a beta of 1.69. The business’s fifty day simple moving average is $794.32 and its 200-day simple moving average is $757.67. United Rentals, Inc. has a 12-month low of $536.83 and a 12-month high of $896.98. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38.
United Rentals (NYSE:URI – Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the business earned $11.73 EPS. United Rentals’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities analysts predict that United Rentals, Inc. will post 43.46 EPS for the current fiscal year.
United Rentals Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date was Wednesday, November 13th. United Rentals’s dividend payout ratio is presently 17.03%.
About United Rentals
United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.
Further Reading
- Five stocks we like better than United Rentals
- What is a Death Cross in Stocks?
- Moderna Shares Spike on H5N1 News—What’s Next for Investors?
- Most Volatile Stocks, What Investors Need to Know
- Nebius Group (NBIS): A Small-Cap Backed by NVIDIA
- How to Start Investing in Real Estate
- Natural Gas Demand to Surge: Top 3 Stocks and ETFs to Consider
Want to see what other hedge funds are holding URI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Rentals, Inc. (NYSE:URI – Free Report).
Receive News & Ratings for United Rentals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Rentals and related companies with MarketBeat.com's FREE daily email newsletter.