R Squared Ltd Acquires New Position in United Rentals, Inc. (NYSE:URI)

R Squared Ltd bought a new position in shares of United Rentals, Inc. (NYSE:URI) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 730 shares of the construction company’s stock, valued at approximately $514,000. United Rentals comprises 0.5% of R Squared Ltd’s holdings, making the stock its 25th largest holding.

Several other hedge funds also recently made changes to their positions in URI. Mirae Asset Global Investments Co. Ltd. increased its stake in United Rentals by 11.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,203 shares of the construction company’s stock valued at $7,492,000 after purchasing an additional 964 shares during the last quarter. Retireful LLC bought a new stake in shares of United Rentals during the 3rd quarter valued at about $697,000. Mizuho Securities USA LLC raised its stake 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 worth $48,486,000 after acquiring an additional 54,750 shares during the period. Fiduciary Alliance LLC lifted its holdings in United Rentals by 196.5% in the fourth 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. Finally, Nordea Investment Management AB boosted its stake in United Rentals by 7.6% in the fourth quarter. Nordea Investment Management AB now owns 732,954 shares of the construction company’s stock valued at $517,018,000 after acquiring an additional 52,037 shares during the period. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Stock Down 0.4 %

URI stock opened at $766.76 on Wednesday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.82 and a quick ratio of 0.77. The firm has a market capitalization of $50.31 billion, a P/E ratio of 20.03, a P/E/G ratio of 1.73 and a beta of 1.69. United Rentals, Inc. has a 52-week low of $596.48 and a 52-week high of $896.98. The company’s 50 day simple moving average is $769.13 and its 200-day simple moving average is $768.78.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on URI shares. Truist Financial cut their price target on United Rentals from $965.00 to $963.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Baird R W upgraded shares of United Rentals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 14th. Barclays lifted their price objective on shares of United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Argus upped 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. Finally, Citigroup cut their price target on United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $813.73.

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.