Red Cedar Investment Management LLC Sells 1,382 Shares of United Rentals, Inc. (NYSE:URI)

Red Cedar Investment Management LLC decreased its stake in shares of United Rentals, Inc. (NYSE:URI) by 36.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,458 shares of the construction company’s stock after selling 1,382 shares during the period. Red Cedar Investment Management LLC’s holdings in United Rentals were worth $1,732,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. ORG Wealth Partners LLC bought a new stake in shares of United Rentals during the 4th quarter worth about $26,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of United Rentals during the 3rd quarter worth about $31,000. Carmichael Hill & Associates Inc. boosted its holdings in shares of United Rentals by 80.0% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company’s stock worth $36,000 after buying an additional 20 shares during the period. Hanson & Doremus Investment Management bought a new stake in shares of United Rentals during the 4th quarter worth about $33,000. Finally, HM Payson & Co. bought a new stake in shares of United Rentals during the 3rd quarter worth about $41,000. Institutional investors own 96.26% of the company’s stock.

Analysts Set New Price Targets

URI has been the subject of a number of recent research reports. Citigroup cut their price objective on shares of United Rentals from $985.00 to $835.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Argus boosted their price objective on shares of United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Robert W. Baird raised shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price objective for the company in a report on Tuesday, January 14th. Truist Financial reissued a “buy” rating and issued a $956.00 price objective (down previously from $963.00) on shares of United Rentals in a report on Friday, January 31st. Finally, Barclays boosted their price objective on shares of United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, United Rentals currently has a consensus rating of “Moderate Buy” and an average target price of $814.08.

United Rentals Stock Performance

Shares of United Rentals stock opened at $741.10 on Friday. The company has a 50 day moving average of $740.77 and a 200-day moving average of $769.54. United Rentals, Inc. has a 1-year low of $596.48 and a 1-year 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 company has a market cap of $48.40 billion, a PE ratio of 19.13, a price-to-earnings-growth ratio of 1.54 and a beta of 1.68.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, January 29th. The construction company reported $11.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.65 by ($0.06). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. As a group, equities research analysts forecast that United Rentals, Inc. will post 44.93 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 0.97%. This is a boost from United Rentals’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Wednesday, February 12th. United Rentals’s dividend payout ratio is currently 16.83%.

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.