Adage Capital Partners GP L.L.C. Grows Position in United Rentals, Inc. (NYSE:URI)

Adage Capital Partners GP L.L.C. grew its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 127.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 48,343 shares of the construction company's stock after buying an additional 27,072 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.07% of United Rentals worth $34,055,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of URI. Rialto Wealth Management LLC bought a new position in shares of United Rentals during the 4th quarter worth about $25,000. ORG Wealth Partners LLC acquired a new stake in shares of United Rentals during the 4th quarter worth about $26,000. Murphy & Mullick Capital Management Corp acquired a new position in United Rentals in the fourth quarter valued at about $27,000. Meeder Asset Management Inc. increased its holdings in shares of United Rentals by 241.7% during the fourth quarter. Meeder Asset Management Inc. now owns 41 shares of the construction company's stock worth $29,000 after buying an additional 29 shares in the last quarter. Finally, Hanson & Doremus Investment Management bought a new position in shares of United Rentals in the fourth quarter valued at approximately $33,000. Institutional investors own 96.26% of the company's stock.

Insiders Place Their Bets

In other United Rentals news, CFO William E. Grace sold 1,100 shares of the company's 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 owns 6,880 shares in the company, valued at approximately $4,390,128. This represents a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Evercore ISI decreased their target price on United Rentals from $1,004.00 to $974.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Truist Financial lifted their price target on shares of United Rentals from $732.00 to $786.00 and gave the stock a "buy" rating in a research report on Friday, April 25th. Sanford C. Bernstein upgraded shares of United Rentals from an "underperform" rating to a "market perform" rating and decreased their price objective for the company from $705.00 to $666.00 in a report on Tuesday, March 25th. Citigroup reduced their price target on United Rentals from $720.00 to $650.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, Cfra Research upgraded United Rentals to a "strong-buy" rating in a report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $725.69.

United Rentals Trading Down 1.1 %

NYSE URI traded down $6.69 on Wednesday, hitting $623.49. The company's stock had a trading volume of 145,082 shares, compared to its average volume of 589,931. The firm has a market cap of $40.53 billion, a PE ratio of 16.09, a PEG ratio of 1.43 and a beta of 1.72. The company's 50-day moving average is $613.03 and its 200 day moving average is $723.88. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. United Rentals, Inc. has a 1-year low of $525.91 and a 1-year high of $896.98.

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

United Rentals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be paid a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Wednesday, May 14th. United Rentals's dividend payout ratio (DPR) is currently 18.54%.

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.