United Rentals, Inc. (NYSE:URI) Shares Purchased by Principal Securities Inc.

Principal Securities Inc. lifted its position in United Rentals, Inc. (NYSE:URI) by 43.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,658 shares of the construction company’s stock after acquiring an additional 805 shares during the quarter. Principal Securities Inc.’s holdings in United Rentals were worth $1,873,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. ORG Wealth Partners LLC acquired a new position in United Rentals in the fourth quarter worth $26,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of United Rentals in the 3rd quarter worth about $31,000. Hanson & Doremus Investment Management acquired a new position in shares of United Rentals in the 4th quarter valued at about $33,000. Carmichael Hill & Associates Inc. grew its position 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 valued at $36,000 after buying an additional 20 shares during the last quarter. Finally, HM Payson & Co. acquired a new stake in United Rentals during the third quarter worth about $41,000. 96.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on URI. Bank of America lifted their target price on United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Truist Financial restated a “buy” rating and set a $956.00 price objective (down previously from $963.00) on shares of United Rentals 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 target price on the stock in a research report on Tuesday, January 14th. Morgan Stanley reduced their price target 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. Finally, JPMorgan Chase & Co. increased their price objective on shares of United Rentals from $940.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $814.08.

United Rentals Stock Down 2.7 %

URI stock opened at $721.61 on Wednesday. The firm’s 50-day moving average is $737.38 and its two-hundred day moving average is $770.38. The company has a market capitalization of $47.13 billion, a price-to-earnings ratio of 18.62, a price-to-earnings-growth ratio of 1.54 and a beta of 1.68. United Rentals, Inc. has a 52 week low of $596.48 and a 52 week 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.

United Rentals (NYSE:URI) last announced its 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%. On average, analysts forecast that United Rentals, Inc. will post 44.93 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be paid a dividend of $1.79 per share. The ex-dividend date is Wednesday, February 12th. This represents a $7.16 annualized dividend and a yield of 0.99%. This is a boost from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s dividend payout ratio (DPR) is currently 16.83%.

About United Rentals

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.