64,653 United Rentals, Inc. $URI Shares Acquired by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments increased its United Rentals stake by 64,653 shares in the third quarter, a 2,036.3% increase. It held 67,828 shares, valued at about $70.1 million.
• United Rentals reported quarterly EPS of $15.55, beating estimates of $13.97, while revenue rose 15.7% year over year to $4.89 billion.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $1,238.53; the company also announced a quarterly dividend of $1.97 per share.

Allspring Global Investments Holdings LLC lifted its holdings in United Rentals, Inc. (NYSE:URI - Free Report) by 2,036.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,828 shares of the construction company's stock after acquiring an additional 64,653 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.11% of United Rentals worth $70,142,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Cidel Asset Management Inc. raised its stake in shares of United Rentals by 2.4% during the 2nd quarter. Cidel Asset Management Inc. now owns 425 shares of the construction company's stock valued at $481,000 after buying an additional 10 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in United Rentals by 3.1% during the third quarter. SBI Securities Co. Ltd. now owns 331 shares of the construction company's stock worth $331,000 after acquiring an additional 10 shares during the period. CoreCap Advisors LLC grew its holdings in United Rentals by 16.9% during the second quarter. CoreCap Advisors LLC now owns 76 shares of the construction company's stock worth $86,000 after acquiring an additional 11 shares during the period. Parallel Advisors LLC raised its position in United Rentals by 0.8% during the first quarter. Parallel Advisors LLC now owns 1,485 shares of the construction company's stock valued at $1,082,000 after acquiring an additional 12 shares in the last quarter. Finally, Frazier Financial Advisors LLC lifted its holdings in United Rentals by 33.3% in the first quarter. Frazier Financial Advisors LLC now owns 56 shares of the construction company's stock valued at $41,000 after acquiring an additional 14 shares during the period. Institutional investors and hedge funds own 96.26% of the company's stock.

United Rentals Stock Performance

NYSE:URI opened at $1,128.51 on Tuesday. The company's 50-day moving average price is $1,055.98 and its 200-day moving average price is $976.43. The company has a current ratio of 0.80, a quick ratio of 0.73 and a debt-to-equity ratio of 1.35. The company has a market cap of $69.88 billion, a P/E ratio of 24.80, a P/E/G ratio of 1.57 and a beta of 1.82. United Rentals, Inc. has a twelve month low of $701.59 and a twelve month high of $1,202.12.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The construction company reported $15.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $13.97 by $1.58. United Rentals had a net margin of 16.33% and a return on equity of 33.47%. The company had revenue of $4.89 billion during the quarter, compared to analysts' expectations of $4.71 billion. During the same quarter in the prior year, the company earned $11.70 EPS. United Rentals's revenue was up 15.7% compared to the same quarter last year. On average, sell-side analysts forecast that United Rentals, Inc. will post 51.51 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Wednesday, November 11th will be given a dividend of $1.97 per share. The ex-dividend date is Tuesday, November 10th. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. United Rentals's dividend payout ratio (DPR) is presently 17.32%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Truist Financial boosted their target price on shares of United Rentals from $1,395.00 to $1,450.00 and gave the company a "buy" rating in a research note on Friday, October 23rd. Sanford C. Bernstein set a $1,258.00 target price on United Rentals in a research report on Friday, October 23rd. Citigroup restated a "buy" rating and issued a $1,330.00 price objective (up from $1,270.00) on shares of United Rentals in a research report on Monday, September 14th. Bank of America restated a "buy" rating and set a $1,050.00 price target (down from $1,079.00) on shares of United Rentals in a research report on Thursday, October 22nd. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $1,350.00 price target (up from $1,325.00) on shares of United Rentals in a research note on Monday, November 2nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $1,238.53.

United Rentals Profile

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