Empirical Finance LLC Sells 22 Shares of United Rentals, Inc. (NYSE:URI)

Empirical Finance LLC cut its position in United Rentals, Inc. (NYSE:URI) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,354 shares of the construction company’s stock after selling 22 shares during the quarter. Empirical Finance LLC’s holdings in United Rentals were worth $1,658,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of URI. International Assets Investment Management LLC raised its stake 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 acquiring an additional 1,604,715 shares in the last quarter. JPMorgan Chase & Co. grew 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 purchasing an additional 105,287 shares during the last quarter. FMR LLC increased its position in shares of United Rentals by 3.7% during the third quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock worth $1,956,768,000 after purchasing an additional 85,325 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of United Rentals by 10.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 704,145 shares of the construction company’s stock valued at $570,167,000 after purchasing an additional 66,957 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of United Rentals by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock worth $862,110,000 after purchasing an additional 57,002 shares in the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on URI. Barclays increased their price target on United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Argus increased their price objective on shares of United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Citigroup dropped their target price on shares of United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Truist Financial reaffirmed a “buy” rating and issued a $956.00 price target (down previously from $963.00) on shares of United Rentals in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, January 31st. One investment 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. According to data from MarketBeat, United Rentals presently has an average rating of “Moderate Buy” and an average price target of $814.08.

United Rentals Price Performance

NYSE:URI opened at $740.69 on Monday. The firm’s fifty day moving average is $752.83 and its two-hundred day moving average is $770.13. The firm has a market cap of $48.37 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 1.54 and a beta of 1.68. United Rentals, Inc. has a one year low of $596.48 and a one year 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 posted its earnings results on Wednesday, January 29th. The construction company reported $11.59 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%. Research analysts expect that United Rentals, Inc. will post 44.93 EPS for the current year.

United Rentals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 0.97%. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. The ex-dividend date is Wednesday, February 12th. United Rentals’s payout ratio is 16.83%.

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.