Cary Street Partners Financial LLC Invests $20.37 Million in United Rentals, Inc. (NYSE:URI)

Cary Street Partners Financial LLC bought a new position in shares of United Rentals, Inc. (NYSE:URI - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 28,921 shares of the construction company's stock, valued at approximately $20,373,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in URI. Synovus Financial Corp lifted its stake in United Rentals by 8.4% in the third quarter. Synovus Financial Corp now owns 634 shares of the construction company's stock valued at $513,000 after acquiring an additional 49 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of United Rentals by 3.3% in the third quarter. Principal Financial Group Inc. now owns 79,235 shares of the construction company's stock valued at $64,159,000 after buying an additional 2,554 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of United Rentals by 15.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company's stock worth $637,968,000 after acquiring an additional 105,287 shares during the last quarter. Versant Capital Management Inc raised its stake in United Rentals by 104.7% in the 4th quarter. Versant Capital Management Inc now owns 131 shares of the construction company's stock valued at $92,000 after acquiring an additional 67 shares during the period. Finally, GAMMA Investing LLC boosted its position in United Rentals by 26.2% during the fourth quarter. GAMMA Investing LLC now owns 1,141 shares of the construction company's stock worth $804,000 after purchasing an additional 237 shares during the period. 96.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on URI shares. Sanford C. Bernstein upgraded shares of United Rentals from an "underperform" rating to a "market perform" rating and cut their target price for the stock from $705.00 to $666.00 in a research note on Tuesday, March 25th. Citigroup lowered their price target on shares of United Rentals from $720.00 to $650.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Truist Financial boosted their price objective on shares of United Rentals from $732.00 to $786.00 and gave the company a "buy" rating in a report on Friday, April 25th. Morgan Stanley raised shares of United Rentals from an "equal weight" rating to an "overweight" rating and set a $702.00 target price on the stock in a report on Wednesday, April 16th. Finally, Robert W. Baird increased their price target on United Rentals from $535.00 to $571.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $725.69.

Insiders Place Their Bets

In other news, EVP Michael D. Durand sold 1,100 shares of the company's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $626.28, for a total value of $688,908.00. Following the completion of the sale, the executive vice president now owns 8,748 shares of the company's stock, valued at approximately $5,478,697.44. This represents a 11.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.53% of the company's stock.

United Rentals Stock Up 0.1 %

Shares of NYSE URI traded up $0.78 during trading on Wednesday, hitting $652.43. 505,366 shares of the company traded hands, compared to its average volume of 594,859. United Rentals, Inc. has a fifty-two week low of $525.91 and a fifty-two week high of $896.98. The firm has a market capitalization of $42.41 billion, a price-to-earnings ratio of 16.84, a P/E/G ratio of 1.43 and a beta of 1.70. The business's fifty day moving average is $614.20 and its 200 day moving average is $716.83. 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 - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The construction company reported $8.86 earnings per share for the quarter, missing the consensus estimate of $8.92 by ($0.06). The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.61 billion. United Rentals had a net margin of 16.78% and a return on equity of 34.21%. United Rentals's quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.15 EPS. Equities research analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 1.10%. United Rentals's payout ratio is 18.54%.

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.