Alerus Financial NA Invests $2.69 Million in United Rentals, Inc. (NYSE:URI)

Alerus Financial NA bought a new stake in United Rentals, Inc. (NYSE:URI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,812 shares of the construction company’s stock, valued at approximately $2,685,000.

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

Insider Buying and Selling

In other news, CFO William E. Grace sold 1,100 shares of United Rentals stock in a transaction on Monday, February 24th. The shares were sold at an average price of $638.10, for a total transaction of $701,910.00. Following the transaction, the chief financial officer now directly owns 6,880 shares of the company’s stock, valued at $4,390,128. This trade represents a 13.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.53% of the stock is owned by insiders.

United Rentals Price Performance

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

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, January 29th. The construction company reported $11.59 EPS for the quarter, missing analysts’ consensus estimates of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. As a group, analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Truist Financial restated a “buy” rating and issued a $956.00 price target (down from $963.00) on shares of United Rentals in a research report on Friday, January 31st. JPMorgan Chase & Co. raised their price target on United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Bank of America reduced their price objective on United Rentals from $850.00 to $750.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Baird R W upgraded United Rentals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Morgan Stanley reduced their price target on shares of United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $804.15.

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.