Golden State Wealth Management LLC raised its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 225.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 681 shares of the construction company's stock after buying an additional 472 shares during the quarter. Golden State Wealth Management LLC's holdings in United Rentals were worth $427,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Norges Bank acquired a new position in United Rentals during the fourth quarter worth about $695,716,000. GAMMA Investing LLC lifted its stake in United Rentals by 77,674.5% in the 1st quarter. GAMMA Investing LLC now owns 887,407 shares of the construction company's stock worth $556,138,000 after purchasing an additional 886,266 shares in the last quarter. Leigh Baldwin & CO. LLC purchased a new position in United Rentals in the 4th quarter worth approximately $330,989,000. Capital World Investors boosted 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 worth $1,564,722,000 after purchasing an additional 323,636 shares during the last quarter. Finally, Capital International Investors grew its position in shares of United Rentals by 41.0% in the fourth quarter. Capital International Investors now owns 1,051,365 shares of the construction company's stock valued at $740,624,000 after purchasing an additional 305,491 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at United Rentals
In other 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 sale, the executive vice president now owns 8,748 shares of the company's stock, valued at approximately $5,478,697.44. This represents a 11.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Andrew B. Limoges sold 708 shares of the firm's stock in a transaction that occurred 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 transaction, the vice president now directly owns 1,921 shares of the company's stock, valued at approximately $1,355,957.06. The trade was a 26.93% decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on URI. Cfra Research upgraded United Rentals to a "strong-buy" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. raised their target price on United Rentals from $780.00 to $920.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Robert W. Baird lifted their price target on United Rentals from $535.00 to $571.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. Bank of America dropped their price objective on shares of United Rentals from $850.00 to $750.00 and set a "buy" rating for the company in a report on Friday, March 21st. Finally, Truist Financial raised their price objective on shares of United Rentals from $732.00 to $786.00 and gave the stock a "buy" rating in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $766.23.
Read Our Latest Research Report on URI
United Rentals Trading Up 1.6%
Shares of NYSE:URI traded up $11.96 during midday trading on Friday, reaching $754.03. 924,469 shares of the company's stock were exchanged, compared to its average volume of 586,937. The stock has a market cap of $49.01 billion, a price-to-earnings ratio of 19.52, a P/E/G ratio of 1.84 and a beta of 1.70. United Rentals, Inc. has a fifty-two week low of $525.91 and a fifty-two week high of $896.98. The firm's 50 day simple moving average is $688.57 and its two-hundred day simple moving average is $682.49. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.85 and a quick ratio of 0.79.
United Rentals (NYSE:URI - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The construction company reported $8.86 earnings per share for the quarter, missing the consensus estimate of $8.92 by ($0.06). United Rentals had a return on equity of 33.11% and a net margin of 16.38%. The company had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.61 billion. During the same period last year, the business earned $9.15 EPS. The company's quarterly revenue was up 6.7% compared to the same quarter last year. As a group, sell-side analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.
United Rentals Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were given a dividend of $1.79 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 0.95%. United Rentals's payout ratio is currently 18.54%.
United Rentals Profile
(
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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