TCTC Holdings LLC Purchases New Position in United Rentals, Inc. (NYSE:URI)

TCTC Holdings LLC purchased a new stake in United Rentals, Inc. (NYSE:URI) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 59 shares of the construction company’s stock, valued at approximately $42,000.

Other large investors have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC acquired a new stake in United Rentals in the 4th quarter valued at $25,000. ORG Wealth Partners LLC purchased a new position in United Rentals in the 4th quarter valued at about $26,000. Hanson & Doremus Investment Management purchased a new position in United Rentals in the 4th quarter valued at about $33,000. Kestra Investment Management LLC purchased a new position in United Rentals in the 4th quarter valued at about $34,000. Finally, OFI Invest Asset Management purchased a new position in United Rentals in the 4th quarter valued at about $36,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at United Rentals

In other United Rentals news, CFO William E. Grace sold 1,100 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $638.10, for a total value of $701,910.00. Following the sale, the chief financial officer now owns 6,880 shares in the company, valued at approximately $4,390,128. This trade represents a 13.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Truist Financial reissued a “buy” rating and issued a $956.00 price objective (down from $963.00) on shares of United Rentals in a research report on Friday, January 31st. Evercore ISI decreased their price objective on shares of 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. Citigroup decreased their price objective on shares of 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. upped their price objective on shares of United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Argus increased their price target on shares of United Rentals from $840.00 to $880.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $829.00.

United Rentals Stock Performance

Shares of NYSE URI opened at $620.45 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. The firm’s 50-day moving average price is $700.45 and its two-hundred day moving average price is $759.90. United Rentals, Inc. has a 52-week low of $585.27 and a 52-week high of $896.98. The stock has a market capitalization of $40.52 billion, a P/E ratio of 16.01, a P/E/G ratio of 1.43 and a beta of 1.76.

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

United Rentals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a $1.79 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $7.16 dividend on an annualized basis and a yield of 1.15%. This is a boost from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s dividend payout ratio (DPR) is currently 18.48%.

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.