Principal Financial Group Inc. Raises Position in United Rentals, Inc. (NYSE:URI)

Principal Financial Group Inc. lifted its stake in United Rentals, Inc. (NYSE:URI) by 3.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,235 shares of the construction company’s stock after purchasing an additional 2,554 shares during the period. Principal Financial Group Inc.’s holdings in United Rentals were worth $64,159,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of URI. Mirae Asset Global Investments Co. Ltd. increased its position in United Rentals by 11.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,203 shares of the construction company’s stock worth $7,492,000 after buying an additional 964 shares in the last quarter. Essex Financial Services Inc. increased its holdings in United Rentals by 31.9% in the 2nd quarter. Essex Financial Services Inc. now owns 563 shares of the construction company’s stock worth $364,000 after acquiring an additional 136 shares in the last quarter. Retireful LLC bought a new stake in United Rentals during the 3rd quarter worth approximately $697,000. Mizuho Securities USA LLC lifted its holdings 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 purchasing an additional 54,750 shares in the last quarter. Finally, XTX Topco Ltd boosted its position in shares of United Rentals by 428.8% in the third quarter. XTX Topco Ltd now owns 1,692 shares of the construction company’s stock worth $1,370,000 after purchasing an additional 1,372 shares during the period. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $823.24, for a total transaction of $740,916.00. Following the completion of the transaction, the senior vice president now owns 2,044 shares in the company, valued at $1,682,702.56. The trade was a 30.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is owned by insiders.

United Rentals Stock Performance

United Rentals stock opened at $722.64 on Friday. The company’s 50-day moving average price is $827.15 and its 200-day moving average price is $750.46. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 1.38. The company has a market cap of $47.42 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 1.83 and a beta of 1.66. United Rentals, Inc. has a twelve month low of $533.70 and a twelve month high of $896.98.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, October 23rd. The construction company reported $11.80 earnings per share for the quarter, missing the consensus estimate of $12.49 by ($0.69). The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.01 billion. United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $11.73 earnings per share. On average, equities research analysts forecast that United Rentals, Inc. will post 43.46 EPS for the current fiscal year.

United Rentals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a $1.63 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $6.52 dividend on an annualized basis and a yield of 0.90%. United Rentals’s dividend payout ratio is presently 17.03%.

Wall Street Analyst Weigh In

URI has been the topic of several recent analyst reports. Robert W. Baird raised their price objective on shares of United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a research report on Thursday, October 3rd. Argus boosted their price objective on United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Citigroup upped their price objective on United Rentals from $955.00 to $985.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Barclays lifted their target price on United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Finally, Truist Financial increased their price objective on shares of United Rentals from $955.00 to $965.00 and gave the company a “buy” rating in a report on Thursday. Three analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $770.71.

United Rentals 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.