United Rentals, Inc. (NYSE:URI) Shares Purchased by Fred Alger Management LLC

Fred Alger Management LLC lifted its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 185.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,210 shares of the construction company's stock after acquiring an additional 4,687 shares during the period. Fred Alger Management LLC's holdings in United Rentals were worth $5,079,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. GHP Investment Advisors Inc. grew its position in United Rentals by 6.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 14,855 shares of the construction company's stock worth $10,464,000 after purchasing an additional 877 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of United Rentals by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 445,214 shares of the construction company's stock worth $313,627,000 after acquiring an additional 6,787 shares during the last quarter. Fiduciary Alliance LLC boosted its stake in shares of United Rentals by 196.5% during the 4th quarter. Fiduciary Alliance LLC now owns 1,420 shares of the construction company's stock worth $1,000,000 after acquiring an additional 941 shares during the last quarter. Blueshift Asset Management LLC purchased a new position in shares of United Rentals during the 4th quarter worth $649,000. Finally, Penobscot Investment Management Company Inc. boosted its stake in shares of United Rentals by 35.1% during the 4th quarter. Penobscot Investment Management Company Inc. now owns 4,114 shares of the construction company's stock worth $2,898,000 after acquiring an additional 1,068 shares during the last quarter. Institutional investors own 96.26% of the company's stock.

Insider Activity at United Rentals

In other news, CFO William E. Grace sold 1,100 shares of the company's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $638.10, for a total value of $701,910.00. Following the completion of the sale, the chief financial officer now owns 6,880 shares of the company's stock, valued at approximately $4,390,128. This represents a 13.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Andrew B. Limoges sold 708 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was 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 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,908 shares of company stock worth $1,890,567. Insiders own 0.53% of the company's stock.

United Rentals Price Performance

URI stock traded up $40.00 during mid-day trading on Monday, hitting $712.40. The company had a trading volume of 1,002,660 shares, compared to its average volume of 599,213. The company has a market capitalization of $46.31 billion, a price-to-earnings ratio of 18.38, a P/E/G 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. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. The company has a 50-day moving average price of $618.32 and a 200 day moving average price of $712.20.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The construction company reported $8.86 EPS for the quarter, missing the consensus estimate of $8.92 by ($0.06). The company 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%. The firm'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 firm earned $9.15 EPS. On average, research analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be issued a dividend of $1.79 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $7.16 annualized dividend and a yield of 1.01%. United Rentals's payout ratio is 18.54%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. 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 note on Friday, March 21st. Robert W. Baird lifted their price target on shares of United Rentals from $535.00 to $571.00 and gave the stock a "neutral" rating in a research note on Friday, April 25th. Baird R W upgraded shares of United Rentals from a "strong sell" rating to a "hold" rating in a research note on Tuesday, January 14th. Truist Financial lifted their price target on shares of United Rentals from $732.00 to $786.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Finally, Sanford C. Bernstein upgraded shares of United Rentals from an "underperform" rating to a "market perform" rating and lowered their target price for the company from $705.00 to $666.00 in a research note on Tuesday, March 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $725.69.

United Rentals Company Profile

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.