Prakash Investment Advisors LLC Takes $709,000 Position in United Rentals, Inc. (NYSE:URI)

Prakash Investment Advisors LLC bought a new stake in United Rentals, Inc. (NYSE:URI) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,007 shares of the construction company’s stock, valued at approximately $709,000. United Rentals comprises 0.7% of Prakash Investment Advisors LLC’s investment portfolio, making the stock its 23rd biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC grew its position in shares of United Rentals by 3.7% in the third quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock valued at $1,956,768,000 after purchasing an additional 85,325 shares during the last quarter. International Assets Investment Management LLC grew its position in United Rentals by 82,462.2% during the third quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock worth $1,300,962,000 after buying an additional 1,604,715 shares in the last quarter. Geode Capital Management LLC grew its position in United Rentals by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,566,802 shares of the construction company’s stock worth $1,264,326,000 after buying an additional 9,256 shares in the last quarter. Franklin Resources Inc. grew its position in United Rentals by 6.1% during the third quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock worth $862,110,000 after buying an additional 57,002 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in United Rentals by 15.4% during the third quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock worth $637,968,000 after buying an additional 105,287 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

Analyst Ratings Changes

URI has been the topic of a number of analyst reports. Morgan Stanley reduced their price target on United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Barclays increased their price target on United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Citigroup reduced their price target on 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 reissued a “buy” rating and set a $956.00 price target (down previously from $963.00) on shares of United Rentals in a research report on Friday, January 31st. Finally, Evercore ISI reduced their price target on United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, United Rentals has an average rating of “Moderate Buy” and an average target price of $829.00.

United Rentals Stock Down 2.1 %

NYSE URI opened at $694.48 on Friday. The business has a fifty day moving average price of $733.77 and a two-hundred day moving average price of $769.42. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92. United Rentals, Inc. has a fifty-two week low of $596.48 and a fifty-two week high of $896.98. The stock has a market capitalization of $45.36 billion, a PE ratio of 17.92, a PEG ratio of 1.46 and a beta of 1.68.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, January 29th. The construction company reported $11.59 EPS 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%. Equities analysts expect that United Rentals, Inc. will post 44.93 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be paid a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 1.03%. This is a boost from United Rentals’s previous quarterly dividend of $1.63. The ex-dividend date is Wednesday, February 12th. United Rentals’s dividend payout ratio is presently 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.