Leigh Baldwin & CO. LLC Acquires Shares of 469,861 United Rentals, Inc. (NYSE:URI)

Leigh Baldwin & CO. LLC purchased a new position in United Rentals, Inc. (NYSE:URI - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 469,861 shares of the construction company's stock, valued at approximately $330,989,000. United Rentals comprises 1.7% of Leigh Baldwin & CO. LLC's investment portfolio, making the stock its 14th largest position. Leigh Baldwin & CO. LLC owned about 0.72% of United Rentals at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Capital World Investors lifted its stake in shares of United Rentals by 17.1% during the 4th quarter. Capital World Investors now owns 2,221,228 shares of the construction company's stock worth $1,564,722,000 after purchasing an additional 323,636 shares during the last quarter. Geode Capital Management LLC raised its holdings in United Rentals by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 1,587,203 shares of the construction company's stock worth $1,115,142,000 after purchasing an additional 20,401 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of United Rentals by 16.0% during the fourth quarter. Alliancebernstein L.P. now owns 1,250,324 shares of the construction company's stock valued at $880,778,000 after buying an additional 172,340 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of United Rentals by 9.8% during the 4th quarter. Franklin Resources Inc. now owns 1,093,350 shares of the construction company's stock worth $770,199,000 after acquiring an additional 97,336 shares in the last quarter. Finally, Capital International Investors lifted its position in United Rentals by 41.0% during the fourth quarter. Capital International Investors now owns 1,051,365 shares of the construction company's stock valued at $740,624,000 after acquiring an additional 305,491 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company's stock.

United Rentals Stock Performance

Shares of NYSE URI traded up $0.02 during mid-day trading on Thursday, hitting $713.37. 608,573 shares of the company were exchanged, compared to its average volume of 601,204. The stock has a 50 day simple moving average of $621.98 and a 200-day simple moving average of $712.30. United Rentals, Inc. has a 1-year low of $525.91 and a 1-year high of $896.98. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. The firm has a market cap of $46.37 billion, a price-to-earnings ratio of 18.41, a price-to-earnings-growth ratio of 1.43 and a beta of 1.70.

United Rentals (NYSE:URI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The construction company reported $8.86 EPS for the quarter, missing the consensus estimate of $8.92 by ($0.06). The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.61 billion. United Rentals had a net margin of 16.78% and a return on equity of 34.21%. The firm's quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the business earned $9.15 earnings per share. On average, sell-side analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th will be issued a dividend of $1.79 per share. The ex-dividend date is Wednesday, May 14th. This represents a $7.16 annualized dividend and a yield of 1.00%. United Rentals's dividend payout ratio (DPR) is currently 18.54%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on URI shares. Morgan Stanley raised United Rentals from an "equal weight" rating to an "overweight" rating and set a $702.00 price target for the company in a report on Wednesday, April 16th. UBS Group cut shares of United Rentals from a "buy" rating to a "sell" rating and lowered their target price for the stock from $910.00 to $485.00 in a research note on Monday, April 7th. Bank of America cut their price target on shares of United Rentals from $850.00 to $750.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Cfra Research upgraded shares of United Rentals to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Truist Financial upped their target price on United Rentals from $732.00 to $786.00 and gave the company a "buy" rating in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $725.69.

Insider Buying and Selling at United Rentals

In other United Rentals news, CFO William E. Grace sold 1,100 shares of United Rentals stock in a transaction that occurred 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. The trade was a 13.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Andrew B. Limoges sold 708 shares of United Rentals stock in a transaction on Monday, May 12th. The shares were sold at an average price of $705.86, for a total transaction of $499,748.88. Following the transaction, the vice president now owns 1,921 shares in the company, valued at $1,355,957.06. The trade was a 26.93% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,908 shares of company stock worth $1,890,567. 0.53% of the stock is owned by corporate insiders.

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.