United Rentals, Inc. (NYSE:URI) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its holdings in United Rentals, Inc. (NYSE:URI - Free Report) by 156.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,501 shares of the construction company's stock after acquiring an additional 28,345 shares during the quarter. Assenagon Asset Management S.A. owned 0.07% of United Rentals worth $29,142,000 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 URI. Handelsbanken Fonder AB grew its position in United Rentals by 2.8% during the first quarter. Handelsbanken Fonder AB now owns 17,500 shares of the construction company's stock valued at $10,967,000 after buying an additional 473 shares during the period. Sanibel Captiva Trust Company Inc. grew its position in United Rentals by 17.9% during the first quarter. Sanibel Captiva Trust Company Inc. now owns 3,802 shares of the construction company's stock valued at $2,383,000 after buying an additional 576 shares during the period. Simplicity Wealth LLC grew its position in United Rentals by 8.2% during the first quarter. Simplicity Wealth LLC now owns 451 shares of the construction company's stock valued at $283,000 after buying an additional 34 shares during the period. GAMMA Investing LLC grew its position in United Rentals by 24.1% during the first quarter. GAMMA Investing LLC now owns 1,416 shares of the construction company's stock valued at $887,000 after buying an additional 275 shares during the period. Finally, Signet Financial Management LLC grew its position in United Rentals by 0.8% during the first quarter. Signet Financial Management LLC now owns 12,863 shares of the construction company's stock valued at $8,061,000 after buying an additional 108 shares during the period. Institutional investors and hedge funds own 96.26% of the company's stock.

United Rentals Price Performance

Shares of NYSE:URI traded down $21.83 during midday trading on Friday, hitting $695.09. The company's stock had a trading volume of 468,449 shares, compared to its average volume of 589,769. The business's 50 day simple moving average is $662.96 and its 200 day simple moving average is $691.40. 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 company has a market cap of $45.18 billion, a P/E ratio of 17.94, a price-to-earnings-growth ratio of 1.43 and a beta of 1.70. United Rentals, Inc. has a 12-month low of $525.91 and a 12-month 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). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. The firm had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.61 billion. During the same period last year, the firm earned $9.15 earnings per share. United Rentals's revenue for the quarter was up 6.7% on a year-over-year basis. On average, analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were paid a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Wednesday, May 14th. United Rentals's dividend payout ratio (DPR) is presently 18.54%.

Insiders Place Their Bets

In other United Rentals news, VP Andrew B. Limoges sold 708 shares of United Rentals stock in a transaction dated Monday, May 12th. The shares were 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. The trade was a 26.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael D. Durand sold 1,100 shares of United Rentals stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $626.28, for a total transaction of $688,908.00. Following the transaction, the executive vice president now directly owns 8,748 shares in the company, valued at $5,478,697.44. This trade represents a 11.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on URI shares. Robert W. Baird raised their price target on shares of United Rentals from $535.00 to $571.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. Bank of America dropped their price target on shares of United Rentals from $850.00 to $750.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Morgan Stanley raised shares of United Rentals from an "equal weight" rating to an "overweight" rating and set a $702.00 price objective on the stock in a report on Wednesday, April 16th. The Goldman Sachs Group increased their price objective on shares of United Rentals from $770.00 to $850.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Finally, Truist Financial increased 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $753.64.

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.