United Rentals, Inc. (NYSE:URI) Shares Purchased by Premier Fund Managers Ltd

Premier Fund Managers Ltd grew its holdings in United Rentals, Inc. (NYSE:URI) by 10.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,840 shares of the construction company’s stock after buying an additional 2,490 shares during the period. Premier Fund Managers Ltd’s holdings in United Rentals were worth $18,935,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of URI. Norges Bank acquired a new position in United Rentals in the fourth quarter valued at approximately $695,716,000. Proficio Capital Partners LLC acquired a new stake in shares of United Rentals during the 4th quarter worth about $171,733,000. Raymond James Financial Inc. purchased a new stake in United Rentals in the 4th quarter valued at about $164,493,000. TD Asset Management Inc. lifted its position in United Rentals by 207.8% in the fourth quarter. TD Asset Management Inc. now owns 234,366 shares of the construction company’s stock valued at $165,097,000 after buying an additional 158,214 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of United Rentals by 15.4% in the 3rd 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 during the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Stock Performance

Shares of United Rentals stock opened at $647.13 on Friday. The firm has a market capitalization of $42.26 billion, a P/E ratio of 16.70, a P/E/G ratio of 1.43 and a beta of 1.76. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. United Rentals, Inc. has a 52 week low of $585.27 and a 52 week high of $896.98. The firm’s 50 day moving average is $689.85 and its two-hundred day moving average is $755.06.

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 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 forecast that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a $1.79 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.16 dividend on an annualized basis and a yield of 1.11%. This is a boost from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s payout ratio is currently 18.48%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on URI shares. Sanford C. Bernstein upgraded United Rentals from an “underperform” rating to a “market perform” rating and lowered their target price for the company from $705.00 to $666.00 in a report on Tuesday. Morgan Stanley cut their target price on shares of United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. JPMorgan Chase & Co. raised their price target on shares of United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Robert W. Baird raised United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price objective on the stock in a research report on Tuesday, January 14th. Finally, Evercore ISI decreased their target price on United Rentals from $1,004.00 to $974.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, United Rentals currently has a consensus rating of “Moderate Buy” and an average target price of $804.15.

Insider Activity

In related news, CFO William E. Grace sold 1,100 shares of the company’s stock in a transaction 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 owns 6,880 shares in the company, valued at $4,390,128. This represents a 13.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.53% of the company’s stock.

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.