Baer Investment Advisory LLC Takes $2.24 Million Position in United Rentals, Inc. (NYSE:URI)

Baer Investment Advisory LLC bought a new position in shares of United Rentals, Inc. (NYSE:URI - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,184 shares of the construction company's stock, valued at approximately $2,243,000. United Rentals accounts for 4.7% of Baer Investment Advisory LLC's holdings, making the stock its 13th largest position.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Capital World Investors lifted its holdings 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 valued at $1,564,722,000 after purchasing an additional 323,636 shares during the last quarter. Geode Capital Management LLC grew its position in United Rentals by 1.3% during the 4th 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 during the period. Alliancebernstein L.P. grew its position in United Rentals by 16.0% during the 4th quarter. Alliancebernstein L.P. now owns 1,250,324 shares of the construction company's stock worth $880,778,000 after purchasing an additional 172,340 shares during the period. Franklin Resources Inc. grew its position 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 valued at $770,199,000 after acquiring an additional 97,336 shares during the period. Finally, Capital International Investors grew its position in shares of United Rentals by 41.0% during the 4th 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 period. Hedge funds and other institutional investors own 96.26% of the company's stock.

United Rentals Stock Down 0.8%

Shares of United Rentals stock traded down $6.08 during trading hours on Wednesday, reaching $711.48. 273,925 shares of the company were exchanged, compared to its average volume of 601,184. 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 stock's fifty day moving average is $639.58 and its 200 day moving average is $704.31. The firm has a market cap of $46.25 billion, a PE ratio of 18.36, a PEG ratio of 1.43 and a beta of 1.70. 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 issued its earnings results on Wednesday, April 23rd. The construction company reported $8.86 EPS for the quarter, missing analysts' consensus estimates of $8.92 by ($0.06). The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.61 billion. United Rentals had a return on equity of 34.21% and a net margin of 16.78%. The business's revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.15 EPS. As a group, equities research analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be given a $1.79 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $7.16 dividend on an annualized basis and a yield of 1.01%. United Rentals's dividend payout ratio (DPR) is presently 18.54%.

Insider Activity at United Rentals

In related news, EVP Michael D. Durand sold 1,100 shares of the stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $626.28, for a total transaction of $688,908.00. Following the completion of the transaction, the executive vice president now directly owns 8,748 shares of the company's stock, valued at $5,478,697.44. This represents a 11.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Andrew B. Limoges sold 708 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $705.86, for a total transaction of $499,748.88. Following the transaction, the vice president now directly owns 1,921 shares of the company's stock, valued at $1,355,957.06. This represents a 26.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Analyst Ratings Changes

URI has been the topic of several research analyst reports. Robert W. Baird lifted their price objective on United Rentals from $535.00 to $571.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. Cfra Research raised shares of United Rentals to a "strong-buy" rating in a research note on Friday, April 25th. Bank of America decreased their target price 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. JPMorgan Chase & Co. lifted their price target on shares of United Rentals from $780.00 to $920.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Finally, Truist Financial lifted their price target on shares of United Rentals from $732.00 to $786.00 and gave the company a "buy" rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, United Rentals presently has an average rating of "Moderate Buy" and a consensus target price of $753.15.

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.