OFI Invest Asset Management Purchases Shares of 53 United Rentals, Inc. (NYSE:URI)

OFI Invest Asset Management purchased a new stake in shares of United Rentals, Inc. (NYSE:URI) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 53 shares of the construction company’s stock, valued at approximately $36,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GHP Investment Advisors Inc. lifted its position in United Rentals by 6.3% during the fourth quarter. GHP Investment Advisors Inc. now owns 14,855 shares of the construction company’s stock valued at $10,464,000 after buying an additional 877 shares in the last quarter. Retireful LLC acquired a new position in United Rentals during the third quarter valued at approximately $697,000. Charles Schwab Investment Management Inc. lifted its position in United Rentals by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 445,214 shares of the construction company’s stock valued at $313,627,000 after buying an additional 6,787 shares in the last quarter. Fiduciary Alliance LLC lifted its position in United Rentals by 196.5% during the fourth quarter. Fiduciary Alliance LLC now owns 1,420 shares of the construction company’s stock valued at $1,000,000 after buying an additional 941 shares in the last quarter. Finally, Mizuho Securities USA LLC lifted its position in United Rentals by 1,067.5% during the third quarter. Mizuho Securities USA LLC now owns 59,879 shares of the construction company’s stock valued at $48,486,000 after buying an additional 54,750 shares in the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Stock Down 4.5 %

URI stock opened at $600.34 on Tuesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92. United Rentals, Inc. has a 1-year low of $585.27 and a 1-year high of $896.98. The firm has a fifty day moving average price of $709.06 and a two-hundred day moving average price of $764.37. The firm has a market cap of $39.21 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 1.43 and a beta of 1.76.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, January 29th. The construction company reported $11.59 EPS for the quarter, missing the consensus estimate of $11.65 by ($0.06). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. Research analysts predict that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a dividend of $1.79 per share. This is a boost from United Rentals’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.16 annualized dividend and a yield of 1.19%. United Rentals’s dividend payout ratio (DPR) is presently 18.48%.

Wall Street Analysts Forecast Growth

URI has been the topic of a number of recent research reports. Morgan Stanley reduced their target price on shares of United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Argus boosted their target price on shares of United Rentals from $840.00 to $880.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Baird R W raised shares of United Rentals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 14th. Evercore ISI dropped their price target on shares of United Rentals from $1,004.00 to $974.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Finally, Truist Financial restated a “buy” rating and issued a $956.00 price target (down previously from $963.00) on shares of United Rentals in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, United Rentals presently has an average rating of “Moderate Buy” and an average target price of $829.00.

Insiders Place Their Bets

In related news, CFO William E. Grace sold 1,100 shares of the firm’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 transaction of $701,910.00. Following the transaction, the chief financial officer now owns 6,880 shares in the company, valued at $4,390,128. This trade represents a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is owned by 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.