Baker Avenue Asset Management LP Boosts Holdings in United Rentals, Inc. (NYSE:URI)

Baker Avenue Asset Management LP raised its position in United Rentals, Inc. (NYSE:URI) by 7.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 580 shares of the construction company’s stock after acquiring an additional 41 shares during the quarter. Baker Avenue Asset Management LP’s holdings in United Rentals were worth $409,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of URI. Synovus Financial Corp boosted its position in shares of United Rentals by 8.4% in the 3rd quarter. Synovus Financial Corp now owns 634 shares of the construction company’s stock worth $513,000 after purchasing an additional 49 shares in the last quarter. Principal Financial Group Inc. raised its stake in United Rentals by 3.3% in the third quarter. Principal Financial Group Inc. now owns 79,235 shares of the construction company’s stock valued at $64,159,000 after buying an additional 2,554 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings 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 in the last quarter. Nordea Investment Management AB grew its stake in shares of United Rentals by 7.6% during the fourth quarter. Nordea Investment Management AB now owns 732,954 shares of the construction company’s stock worth $517,018,000 after acquiring an additional 52,037 shares during the last quarter. Finally, Burkett Financial Services LLC acquired a new position in shares of United Rentals during the fourth quarter valued at about $100,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at United Rentals

In related news, CFO William E. Grace sold 1,100 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $638.10, for a total value of $701,910.00. Following the transaction, the chief financial officer now directly owns 6,880 shares in the company, valued at approximately $4,390,128. This represents a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.53% of the stock is owned by company insiders.

United Rentals Price Performance

United Rentals stock opened at $657.98 on Tuesday. The company has a fifty day simple moving average of $613.64 and a 200-day simple moving average of $717.73. 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 has a market capitalization of $42.77 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 1.43 and a beta of 1.70. United Rentals, Inc. has a 52-week low of $525.91 and a 52-week high of $896.98.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, April 23rd. The construction company reported $8.86 EPS for the quarter, missing analysts’ consensus estimates of $8.92 by ($0.06). The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.61 billion. United Rentals had a net margin of 16.78% and a return on equity of 34.21%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.15 EPS. On average, equities analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th will be paid a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Wednesday, May 14th. United Rentals’s dividend payout ratio (DPR) is currently 18.54%.

Wall Street Analysts Forecast Growth

URI has been the subject of a number of recent analyst reports. Truist Financial lifted their target price on shares of United Rentals from $732.00 to $786.00 and gave the stock a “buy” rating in a research note on Friday, April 25th. Baird R W raised shares of United Rentals from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. reduced their target price on United Rentals from $1,000.00 to $750.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Morgan Stanley upgraded United Rentals from an “equal weight” rating to an “overweight” rating and set a $702.00 price target on the stock in a research note on Wednesday, April 16th. Finally, Robert W. Baird raised their price objective on United Rentals from $535.00 to $571.00 and gave the stock a “neutral” rating in a research note on Friday, April 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, United Rentals currently has a consensus rating of “Moderate Buy” and a consensus price target of $725.69.

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.