TIAA Trust National Association Has $9.43 Million Stake in United Rentals, Inc. (NYSE:URI)

Key Points

• TIAA Trust National Association has increased its stake in United Rentals, Inc. by 21.7% in the first quarter, now owning 15,053 shares valued at approximately $9.43 million.
• Several hedge funds have also increased their positions in United Rentals, with notable increases from Arete Wealth Advisors LLC, which lifted its stake by 99.0% in the fourth quarter.
• Analyst ratings are generally positive, with Morgan Stanley raising its price target to $955 and the average rating from analysts being classified as a "Moderate Buy".

TIAA Trust National Association grew its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 21.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,053 shares of the construction company's stock after buying an additional 2,686 shares during the period. TIAA Trust National Association's holdings in United Rentals were worth $9,433,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Pettyjohn Wood & White Inc. acquired a new position in shares of United Rentals during the first quarter valued at approximately $857,000. UNIVEST FINANCIAL Corp increased its stake in shares of United Rentals by 173.4% during the first quarter. UNIVEST FINANCIAL Corp now owns 14,844 shares of the construction company's stock valued at $9,303,000 after acquiring an additional 9,414 shares during the period. Baker Avenue Asset Management LP grew its position in United Rentals by 6.0% in the first quarter. Baker Avenue Asset Management LP now owns 615 shares of the construction company's stock worth $386,000 after buying an additional 35 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in United Rentals in the first quarter worth approximately $4,074,000. Finally, Foster & Motley Inc. grew its position in United Rentals by 4.5% in the first quarter. Foster & Motley Inc. now owns 8,699 shares of the construction company's stock worth $5,452,000 after buying an additional 378 shares during the last quarter. Institutional investors own 96.26% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Cfra Research upgraded shares of United Rentals to a "strong-buy" rating in a research report on Friday, April 25th. Bank of America lifted their price target on shares of United Rentals from $895.00 to $900.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Truist Financial lifted their price target on shares of United Rentals from $786.00 to $952.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. KeyCorp lifted their price objective on shares of United Rentals from $865.00 to $960.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Finally, Citigroup reissued a "buy" rating and set a $810.00 target price (up from $740.00) on shares of United Rentals in a research note on Tuesday, June 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, United Rentals has a consensus rating of "Moderate Buy" and an average price target of $830.71.

United Rentals Stock Down 0.4%

Shares of URI stock traded down $3.81 on Tuesday, hitting $864.76. The company's stock had a trading volume of 29,464 shares, compared to its average volume of 660,362. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.86 and a quick ratio of 0.80. United Rentals, Inc. has a fifty-two week low of $525.91 and a fifty-two week high of $903.60. The firm's fifty day moving average price is $768.54 and its 200-day moving average price is $700.64. The stock has a market capitalization of $55.64 billion, a price-to-earnings ratio of 22.36, a P/E/G ratio of 1.99 and a beta of 1.72.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The construction company reported $10.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.54 by ($0.07). United Rentals had a net margin of 16.11% and a return on equity of 32.01%. The business had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.90 billion. During the same period in the previous year, the firm posted $10.70 EPS. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. Research analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th will be given a dividend of $1.79 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $7.16 dividend on an annualized basis and a yield of 0.8%. United Rentals's payout ratio is currently 18.52%.

Insiders Place Their Bets

In other United Rentals news, VP Andrew B. Limoges sold 708 shares of the business's 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 transaction, the vice president owned 1,921 shares of the company's stock, valued at $1,355,957.06. The trade was a 26.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.51% of the stock is currently owned by corporate insiders.

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.