United Rentals, Inc. (NYSE:URI) Stake Lifted by FIL Ltd

FIL Ltd increased its position in shares of United Rentals, Inc. (NYSE:URI) by 58.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,929 shares of the construction company’s stock after purchasing an additional 3,309 shares during the period. FIL Ltd’s holdings in United Rentals were worth $6,290,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of United Rentals by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 1,587,203 shares of the construction company’s stock worth $1,115,142,000 after buying an additional 20,401 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in United Rentals by 16.0% in the 4th quarter. Alliancebernstein L.P. now owns 1,250,324 shares of the construction company’s stock valued at $880,778,000 after acquiring an additional 172,340 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of United Rentals by 9.8% during the 4th quarter. Franklin Resources Inc. now owns 1,093,350 shares of the construction company’s stock valued at $770,199,000 after purchasing an additional 97,336 shares in the last quarter. Norges Bank acquired a new position in shares of United Rentals in the 4th quarter worth approximately $695,716,000. Finally, Invesco Ltd. raised its holdings in shares of United Rentals by 7.4% in the 4th quarter. Invesco Ltd. now owns 922,452 shares of the construction company’s stock worth $649,813,000 after purchasing an additional 63,657 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Stock Up 0.3 %

United Rentals stock opened at $581.57 on Friday. The firm’s 50 day moving average price is $644.29 and its two-hundred day moving average price is $740.61. The firm has a market cap of $38.00 billion, a PE ratio of 15.01, a P/E/G ratio of 1.43 and a beta of 1.72. United Rentals, Inc. has a twelve month low of $525.91 and a twelve month high of $896.98. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.92 and a current ratio of 0.98.

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

United Rentals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a $1.79 dividend. This is a boost from United Rentals’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.16 annualized dividend and a dividend yield of 1.23%. United Rentals’s payout ratio is presently 18.48%.

Insider Buying and Selling

In other United Rentals news, CFO William E. Grace sold 1,100 shares of the business’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 completion of the sale, the chief financial officer now directly owns 6,880 shares of the company’s stock, valued at $4,390,128. The trade was a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.51% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

URI has been the subject of a number of research reports. Baird R W upgraded shares of United Rentals from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 14th. Morgan Stanley decreased their target price on United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Truist Financial reduced their target price on United Rentals from $956.00 to $732.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Robert W. Baird raised United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price target on the stock in a research note on Tuesday, January 14th. Finally, UBS Group lowered shares of United Rentals from a “buy” rating to a “sell” rating and reduced their price objective for the company from $910.00 to $485.00 in a research note on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $752.14.

United Rentals 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.