DnB Asset Management AS Cuts Position in United Rentals, Inc. (NYSE:URI)

DnB Asset Management AS decreased its position in United Rentals, Inc. (NYSE:URI) by 28.0% during the 4th quarter, Holdings Channel reports. The fund owned 17,339 shares of the construction company’s stock after selling 6,756 shares during the quarter. DnB Asset Management AS’s holdings in United Rentals were worth $12,214,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in URI. Rialto Wealth Management LLC purchased a new stake in shares of United Rentals during the 4th quarter worth $25,000. ORG Wealth Partners LLC acquired a new stake in United Rentals in the fourth quarter valued at $26,000. Murphy & Mullick Capital Management Corp purchased a new stake in United Rentals during the 4th quarter worth about $27,000. Hanson & Doremus Investment Management acquired a new position in shares of United Rentals during the 4th quarter worth about $33,000. Finally, Kestra Investment Management LLC purchased a new position in shares of United Rentals in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Insiders Place Their Bets

In related news, CFO William E. Grace sold 1,100 shares of United Rentals 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 sale, the chief financial officer now directly owns 6,880 shares in the company, valued at $4,390,128. The trade was a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.53% of the stock is currently owned by insiders.

United Rentals Trading Down 2.9 %

NYSE:URI opened at $627.10 on Friday. United Rentals, Inc. has a 12-month low of $585.27 and a 12-month high of $896.98. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42. The stock’s 50 day simple moving average is $686.97 and its 200-day simple moving average is $754.94. The firm has a market cap of $40.97 billion, a P/E ratio of 16.18, a PEG ratio of 1.43 and a beta of 1.76.

United Rentals (NYSE:URI) last announced its quarterly earnings data 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 net margin of 16.78% and a return on equity of 34.21%. Equities analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Wednesday, February 12th. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s payout ratio is currently 18.48%.

Wall Street Analyst Weigh In

URI has been the subject of a number of research analyst reports. Robert W. Baird raised United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price target for the company in a report on Tuesday, January 14th. Morgan Stanley lowered their target price on shares of United Rentals from $775.00 to $765.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Evercore ISI cut their price target on shares of United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. JPMorgan Chase & Co. upped their price objective on shares of United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Truist Financial reiterated a “buy” rating and set a $956.00 target price (down previously from $963.00) on shares of United Rentals in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, United Rentals has a consensus rating of “Moderate Buy” and an average price target of $804.15.

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.