United Rentals, Inc. (NYSE:URI) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its position in shares of United Rentals, Inc. (NYSE:URI) by 1.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,587,203 shares of the construction company’s stock after acquiring an additional 20,401 shares during the quarter. Geode Capital Management LLC’s holdings in United Rentals were worth $1,115,142,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of URI. Public Sector Pension Investment Board grew its stake in shares of United Rentals by 15.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 2,925 shares of the construction company’s stock worth $2,368,000 after purchasing an additional 400 shares during the last quarter. Erste Asset Management GmbH acquired a new position in United Rentals in the third quarter worth approximately $2,263,000. Paloma Partners Management Co increased its holdings in shares of United Rentals by 214.2% in the third quarter. Paloma Partners Management Co now owns 1,484 shares of the construction company’s stock valued at $1,202,000 after buying an additional 2,784 shares in the last quarter. Aureus Asset Management LLC acquired a new stake in shares of United Rentals during the 3rd quarter valued at $243,000. Finally, Benjamin Edwards Inc. bought a new stake in shares of United Rentals during the 3rd quarter worth $3,647,000. 96.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on URI. Robert W. Baird raised United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 target price for the company in a report on Tuesday, January 14th. 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. Bank of America dropped their target price on shares of United Rentals from $850.00 to $750.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Baird R W upgraded shares of United Rentals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Truist Financial reiterated a “buy” rating and set a $956.00 price objective (down 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, five have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $804.15.

United Rentals Price Performance

URI opened at $631.17 on Wednesday. The stock has a fifty day moving average price of $680.92 and a 200 day moving average price of $753.98. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42. United Rentals, Inc. has a 1 year low of $585.27 and a 1 year high of $896.98. The stock has a market cap of $41.24 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 1.43 and a beta of 1.76.

United Rentals (NYSE:URI) last announced 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 net margin of 16.78% and a return on equity of 34.21%. Analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a dividend of $1.79 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 1.13%. This is an increase from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s dividend payout ratio (DPR) is currently 18.48%.

Insider Buying and Selling

In other news, CFO William E. Grace sold 1,100 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $638.10, for a total transaction of $701,910.00. Following the completion of the sale, the chief financial officer now owns 6,880 shares in the company, valued at approximately $4,390,128. This represents a 13.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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.