Aigen Investment Management LP Takes Position in United Rentals, Inc. $URI

Key Points

• Aigen Investment Management opened a new position in United Rentals in Q4, buying 3,406 shares worth about $2.76 million. The stock now represents roughly 0.6% of its portfolio and its 27th-largest holding.
• Institutional ownership remains very high, with several large investors adding to their stakes, including Norges Bank and Capital International Investors. Overall, institutions own 96.26% of United Rentals shares.
• Analysts remain broadly positive on URI, with 13 Buy ratings, two Hold ratings, and one Sell rating, and an average target price of $1,045.81. However, the company recently missed quarterly earnings and revenue expectations despite year-over-year revenue growth.

Aigen Investment Management LP acquired a new stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,406 shares of the construction company's stock, valued at approximately $2,757,000. United Rentals makes up about 0.6% of Aigen Investment Management LP's investment portfolio, making the stock its 27th largest position.

Several other large investors also recently made changes to their positions in the business. Norges Bank acquired a new position in shares of United Rentals in the fourth quarter worth about $978,017,000. Capital International Investors boosted its holdings in shares of United Rentals by 22.8% in the third quarter. Capital International Investors now owns 3,402,524 shares of the construction company's stock worth $3,247,762,000 after buying an additional 631,484 shares during the period. TD Asset Management Inc boosted its holdings in shares of United Rentals by 66.5% in the third quarter. TD Asset Management Inc now owns 484,450 shares of the construction company's stock worth $462,485,000 after buying an additional 193,416 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of United Rentals by 3,459.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 196,688 shares of the construction company's stock worth $159,184,000 after buying an additional 191,162 shares during the period. Finally, Capital World Investors boosted its holdings in shares of United Rentals by 6.7% in the third quarter. Capital World Investors now owns 2,678,614 shares of the construction company's stock worth $2,557,158,000 after buying an additional 168,685 shares during the period. Institutional investors own 96.26% of the company's stock.

Insider Buying and Selling at United Rentals

In other United Rentals news, SVP Joli L. Gross sold 306 shares of United Rentals stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $954.99, for a total value of $292,226.94. Following the completion of the sale, the senior vice president directly owned 5,738 shares in the company, valued at $5,479,732.62. The trade was a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Andrew B. Limoges sold 548 shares of United Rentals stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $977.86, for a total transaction of $535,867.28. Following the completion of the sale, the vice president owned 1,865 shares of the company's stock, valued at $1,823,708.90. This trade represents a 22.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 26,088 shares of company stock valued at $25,628,877 over the last three months. 0.47% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on URI shares. UBS Group raised their target price on shares of United Rentals from $1,025.00 to $1,145.00 and gave the stock a "buy" rating in a report on Wednesday, June 3rd. Citigroup raised their target price on shares of United Rentals from $950.00 to $1,130.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Truist Financial set a $1,209.00 target price on shares of United Rentals in a report on Friday, April 24th. Barclays raised their price target on shares of United Rentals from $600.00 to $715.00 and gave the stock an "underweight" rating in a report on Friday, April 24th. Finally, Royal Bank Of Canada raised their price target on shares of United Rentals from $1,041.00 to $1,119.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Thirteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,045.81.

United Rentals Stock Performance

URI stock opened at $1,076.03 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80. The stock has a market cap of $67.41 billion, a P/E ratio of 27.45, a P/E/G ratio of 1.70 and a beta of 1.81. The firm has a 50 day simple moving average of $920.44 and a 200 day simple moving average of $862.24. United Rentals, Inc. has a 52 week low of $682.08 and a 52 week high of $1,106.88.

United Rentals (NYSE:URI - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $11.47 by ($1.76). The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. United Rentals's revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $8.86 earnings per share. Research analysts anticipate that United Rentals, Inc. will post 47.26 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were paid a $1.97 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. United Rentals's payout ratio is 20.10%.

About United Rentals

United Rentals, Inc NYSE: URI is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company's product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.

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