Eagle Rock Investment Company LLC increased its stake in United Rentals, Inc. (NYSE:URI - Free Report) by 20.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,700 shares of the construction company's stock after purchasing an additional 787 shares during the quarter. Eagle Rock Investment Company LLC's holdings in United Rentals were worth $2,945,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the stock. Adell Harriman & Carpenter Inc. grew its position in shares of United Rentals by 1.8% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 814 shares of the construction company's stock valued at $573,000 after purchasing an additional 14 shares in the last quarter. Valmark Advisers Inc. increased its stake in United Rentals by 1.8% in the 4th quarter. Valmark Advisers Inc. now owns 788 shares of the construction company's stock worth $555,000 after acquiring an additional 14 shares during the last quarter. Erste Asset Management GmbH increased its stake in United Rentals by 0.5% in the 4th quarter. Erste Asset Management GmbH now owns 2,794 shares of the construction company's stock worth $2,002,000 after acquiring an additional 14 shares during the last quarter. Forum Financial Management LP increased its stake in United Rentals by 1.9% in the 4th quarter. Forum Financial Management LP now owns 749 shares of the construction company's stock worth $528,000 after acquiring an additional 14 shares during the last quarter. Finally, Klingman & Associates LLC increased its stake in United Rentals by 2.3% in the 4th quarter. Klingman & Associates LLC now owns 669 shares of the construction company's stock worth $471,000 after acquiring an additional 15 shares during the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on URI shares. The Goldman Sachs Group upped their target price on United Rentals from $770.00 to $850.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Truist Financial increased their price target on shares of United Rentals from $732.00 to $786.00 and gave the stock a "buy" rating in a report on Friday, April 25th. UBS Group raised shares of United Rentals from a "sell" rating to a "neutral" rating and increased their price target for the stock from $485.00 to $780.00 in a report on Friday, May 16th. Bank of America decreased their price target on shares of United Rentals from $850.00 to $750.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Finally, Cfra Research raised shares of United Rentals to a "strong-buy" rating in a report on Friday, April 25th. One equities research 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 company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $753.15.
Check Out Our Latest Research Report on URI
United Rentals Price Performance
Shares of URI traded up $8.58 during midday trading on Tuesday, reaching $715.79. The stock had a trading volume of 441,583 shares, compared to its average volume of 594,822. The company's 50-day moving average is $653.84 and its 200 day moving average is $694.62. United Rentals, Inc. has a 12-month low of $525.91 and a 12-month high of $896.98. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $46.53 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 1.43 and a beta of 1.70.
United Rentals (NYSE:URI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The construction company reported $8.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $8.92 by ($0.06). The firm had revenue of $3.72 billion during the quarter, compared to analysts' expectations of $3.61 billion. United Rentals had a return on equity of 34.21% and a net margin of 16.78%. United Rentals's revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.15 earnings per share. On average, equities analysts predict that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.
United Rentals Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Wednesday, May 14th. United Rentals's dividend payout ratio is presently 18.54%.
Insider Activity at United Rentals
In other United Rentals news, VP Andrew B. Limoges sold 708 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $705.86, for a total transaction of $499,748.88. Following the completion of the sale, the vice president now owns 1,921 shares of the company's stock, valued at $1,355,957.06. This represents a 26.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael D. Durand sold 1,100 shares of the stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $626.28, for a total transaction of $688,908.00. Following the sale, the executive vice president now directly owns 8,748 shares of the company's stock, valued at $5,478,697.44. The trade was a 11.17% decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.
United Rentals Profile
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Free Report)
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.
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