United Rentals, Inc. (NYSE:URI) Shares Purchased by Pettee Investors Inc.

Pettee Investors Inc. increased its stake in shares of United Rentals, Inc. (NYSE:URI) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,662 shares of the construction company’s stock after purchasing an additional 41 shares during the quarter. United Rentals accounts for approximately 2.0% of Pettee Investors Inc.’s holdings, making the stock its 9th biggest position. Pettee Investors Inc.’s holdings in United Rentals were worth $3,989,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. GHP Investment Advisors Inc. lifted its holdings in shares of United Rentals by 6.3% during the fourth quarter. GHP Investment Advisors Inc. now owns 14,855 shares of the construction company’s stock worth $10,464,000 after purchasing an additional 877 shares during the period. Retireful LLC acquired a new stake in shares of United Rentals during the third quarter worth $697,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of United Rentals by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 445,214 shares of the construction company’s stock worth $313,627,000 after purchasing an additional 6,787 shares during the period. Fiduciary Alliance LLC lifted its holdings in shares of United Rentals by 196.5% during the fourth quarter. Fiduciary Alliance LLC now owns 1,420 shares of the construction company’s stock worth $1,000,000 after purchasing an additional 941 shares during the period. Finally, Mizuho Securities USA LLC lifted its holdings in shares of United Rentals by 1,067.5% during the third quarter. Mizuho Securities USA LLC now owns 59,879 shares of the construction company’s stock worth $48,486,000 after purchasing an additional 54,750 shares during the period. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Trading Up 0.4 %

Shares of URI stock opened at $628.63 on Friday. United Rentals, Inc. has a fifty-two week low of $585.27 and a fifty-two week high of $896.98. The stock has a market cap of $41.05 billion, a P/E ratio of 16.22, a P/E/G ratio of 1.43 and a beta of 1.76. The business has a fifty day simple moving average of $711.17 and a 200-day simple moving average of $764.91. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, January 29th. The construction company reported $11.59 earnings per share for the quarter, missing analysts’ consensus estimates of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. On average, analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a dividend of $1.79 per share. The ex-dividend date was Wednesday, February 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 1.14%. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s dividend payout ratio (DPR) is presently 18.48%.

Wall Street Analysts Forecast Growth

URI has been the subject of several recent research reports. Robert W. Baird raised United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price target for the company in a report on Tuesday, January 14th. Citigroup cut their price objective on United Rentals from $985.00 to $835.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. JPMorgan Chase & Co. increased their price objective on United Rentals from $940.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Evercore ISI cut their price objective on United Rentals from $1,004.00 to $974.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Finally, Truist Financial reiterated a “buy” rating and issued a $956.00 price objective (down previously from $963.00) on shares of United Rentals in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $829.00.

Insider Activity at United Rentals

In related news, CFO William E. Grace sold 1,100 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $638.10, for a total transaction of $701,910.00. Following the sale, the chief financial officer now owns 6,880 shares of the company’s stock, valued at $4,390,128. This trade represents a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.53% of the company’s stock.

United Rentals Company Profile

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.