Bay Capital Advisors LLC Makes New $494,000 Investment in United Rentals, Inc. (NYSE:URI)

Bay Capital Advisors LLC acquired a new stake in United Rentals, Inc. (NYSE:URI) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 701 shares of the construction company’s stock, valued at approximately $494,000.

A number of other hedge funds and other institutional investors have also modified their holdings of URI. Rialto Wealth Management LLC purchased a new stake in United Rentals during the 4th quarter worth about $25,000. ORG Wealth Partners LLC acquired a new stake in shares of United Rentals during the 4th quarter worth about $26,000. Hanson & Doremus Investment Management purchased a new stake in United Rentals during the fourth quarter worth approximately $33,000. Kestra Investment Management LLC acquired a new position in United Rentals in the fourth quarter valued at approximately $34,000. Finally, OFI Invest Asset Management purchased a new position in United Rentals in the fourth quarter valued at approximately $36,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on URI. Robert W. Baird upgraded shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price objective for the company in a research report on Tuesday, January 14th. Morgan Stanley decreased their price objective on shares of United Rentals from $775.00 to $765.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Citigroup cut their target price 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. Baird R W raised United Rentals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Truist Financial reaffirmed 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $815.67.

United Rentals Stock Up 3.1 %

Shares of United Rentals stock opened at $647.93 on Tuesday. United Rentals, Inc. has a one year low of $585.27 and a one year high of $896.98. The company has a market cap of $42.31 billion, a P/E ratio of 16.72, a PEG ratio of 1.43 and a beta of 1.76. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.92 and a current ratio of 0.98. The firm has a fifty day moving average of $695.59 and a two-hundred day moving average of $756.81.

United Rentals (NYSE:URI) last posted its quarterly earnings results 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, 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 declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a $1.79 dividend. The ex-dividend date was Wednesday, February 12th. This is an increase from United Rentals’s previous quarterly dividend of $1.63. This represents a $7.16 dividend on an annualized basis and a dividend yield of 1.11%. United Rentals’s payout ratio is 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 on Monday, February 24th. The shares were sold at an average price of $638.10, for a total transaction of $701,910.00. Following the sale, the chief financial officer now directly owns 6,880 shares in the company, valued at approximately $4,390,128. The trade was a 13.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

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.