United Rentals, Inc. (NYSE:URI) Holdings Boosted by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd grew its stake in shares of United Rentals, Inc. (NYSE:URI) by 23.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,235 shares of the construction company’s stock after purchasing an additional 996 shares during the quarter. UniSuper Management Pty Ltd’s holdings in United Rentals were worth $3,688,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Geode Capital Management LLC boosted its position in United Rentals by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,566,802 shares of the construction company’s stock valued at $1,264,326,000 after purchasing an additional 9,256 shares during the period. Franklin Resources Inc. boosted its holdings in shares of United Rentals by 6.1% during the third quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock valued at $862,110,000 after acquiring an additional 57,002 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of United Rentals by 15.4% during the third quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock valued at $637,968,000 after acquiring an additional 105,287 shares during the period. Nordea Investment Management AB grew its position in shares of United Rentals by 7.6% during the fourth quarter. Nordea Investment Management AB now owns 732,954 shares of the construction company’s stock worth $517,018,000 after acquiring an additional 52,037 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of United Rentals by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 445,214 shares of the construction company’s stock worth $313,627,000 after acquiring an additional 6,787 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. JPMorgan Chase & Co. upped their target price on shares of United Rentals from $940.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Morgan Stanley lowered their target price on 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. Truist Financial reiterated a “buy” rating and set a $956.00 price target (down previously from $963.00) on shares of United Rentals in a research report on Friday, January 31st. Bank of America lowered their price target on United Rentals from $850.00 to $750.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Finally, 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $804.15.

Insider Activity at United Rentals

In other news, CFO William E. Grace sold 1,100 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now owns 6,880 shares in the company, valued at $4,390,128. This represents a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is owned by insiders.

United Rentals Price Performance

Shares of NYSE:URI opened at $627.10 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.92 and a current ratio of 0.98. The company has a market capitalization of $40.95 billion, a PE ratio of 16.18, a price-to-earnings-growth ratio of 1.43 and a beta of 1.76. The stock has a fifty day moving average of $686.97 and a 200-day moving average of $754.58. United Rentals, Inc. has a one year low of $585.27 and a one year high of $896.98.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, January 29th. The construction company reported $11.59 earnings per share 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 analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The company 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 1.14%. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s payout ratio is currently 18.48%.

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.