Louisbourg Investments Inc. boosted its holdings in United Rentals, Inc. (NYSE:URI - Free Report) by 58.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,158 shares of the construction company's stock after purchasing an additional 3,374 shares during the period. United Rentals comprises about 1.4% of Louisbourg Investments Inc.'s portfolio, making the stock its 26th largest holding. Louisbourg Investments Inc.'s holdings in United Rentals were worth $5,739,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the business. Capital World Investors grew its position in United Rentals by 17.1% in the fourth quarter. Capital World Investors now owns 2,221,228 shares of the construction company's stock valued at $1,564,722,000 after purchasing an additional 323,636 shares in the last quarter. Geode Capital Management LLC grew its position in United Rentals by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 1,587,203 shares of the construction company's stock valued at $1,115,142,000 after purchasing an additional 20,401 shares in the last quarter. Alliancebernstein L.P. grew its position in United Rentals by 16.0% in the fourth quarter. Alliancebernstein L.P. now owns 1,250,324 shares of the construction company's stock valued at $880,778,000 after purchasing an additional 172,340 shares in the last quarter. Franklin Resources Inc. grew its position in United Rentals by 9.8% in the fourth quarter. Franklin Resources Inc. now owns 1,093,350 shares of the construction company's stock valued at $770,199,000 after purchasing an additional 97,336 shares in the last quarter. Finally, Capital International Investors grew its position in 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. Institutional investors own 96.26% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the stock. The Goldman Sachs Group raised their target price on shares of United Rentals from $770.00 to $850.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Citigroup decreased their price objective on shares of United Rentals from $720.00 to $650.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. lifted their price objective on shares of United Rentals from $780.00 to $920.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Redburn Atlantic downgraded shares of United Rentals from a "buy" rating to a "neutral" rating and set a $760.00 price objective for the company. in a research report on Friday. Finally, Sanford C. Bernstein raised shares of United Rentals from an "underperform" rating to a "market perform" rating and decreased their price objective for the company from $705.00 to $666.00 in a research report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, United Rentals has a consensus rating of "Moderate Buy" and an average price target of $753.64.
Read Our Latest Stock Analysis on URI
United Rentals Stock Performance
NYSE URI opened at $688.08 on Tuesday. The firm has a 50-day moving average of $665.72 and a 200-day moving average of $689.00. 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 stock has a market cap of $44.72 billion, a PE ratio of 17.76, a P/E/G ratio of 1.43 and a beta of 1.70. United Rentals, Inc. has a 52-week low of $525.91 and a 52-week high of $896.98.
United Rentals (NYSE:URI - Get Free Report) last posted its earnings results 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 company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.61 billion. United Rentals had a return on equity of 34.21% and a net margin of 16.78%. The business's quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $9.15 EPS. On average, sell-side analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current year.
United Rentals Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were paid a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Wednesday, May 14th. United Rentals's dividend payout ratio (DPR) is 18.54%.
Insiders Place Their Bets
In other United Rentals news, EVP Michael D. Durand sold 1,100 shares of United Rentals stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $626.28, for a total value of $688,908.00. Following the completion of the sale, the executive vice president now owns 8,748 shares in the company, valued at $5,478,697.44. The trade was a 11.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Andrew B. Limoges sold 708 shares of the business'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 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 disclosure for this sale can be found here. Corporate insiders own 0.53% of the company's stock.
About United Rentals
(
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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