AlphaQuest LLC Boosts Position in United Rentals, Inc. (NYSE:URI)

AlphaQuest LLC raised its holdings in shares of United Rentals, Inc. (NYSE:URI) by 30.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,159 shares of the construction company’s stock after purchasing an additional 269 shares during the period. AlphaQuest LLC’s holdings in United Rentals were worth $816,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of United Rentals by 3.7% in the 3rd quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock valued at $1,956,768,000 after buying an additional 85,325 shares in the last quarter. Geode Capital Management LLC boosted its stake in United Rentals by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,566,802 shares of the construction company’s stock worth $1,264,326,000 after purchasing an additional 9,256 shares in the last quarter. Franklin Resources Inc. boosted its stake in United Rentals by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock worth $862,110,000 after purchasing an additional 57,002 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in United Rentals by 15.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock worth $637,968,000 after purchasing an additional 105,287 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in United Rentals by 7.6% in the 4th quarter. Nordea Investment Management AB now owns 732,954 shares of the construction company’s stock worth $517,018,000 after purchasing an additional 52,037 shares in the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Robert W. Baird upgraded shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price objective for the company in a research note on Tuesday, January 14th. Citigroup cut their target price on shares of United Rentals from $985.00 to $835.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Argus lifted their target price on shares of United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. boosted their price target on shares of United Rentals from $940.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Truist Financial reissued a “buy” rating and issued a $956.00 price target (down previously from $963.00) on shares of United Rentals in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, United Rentals presently has a consensus rating of “Moderate Buy” and an average target price of $829.00.

Insiders Place Their Bets

In other news, CFO William E. Grace sold 1,100 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $638.10, for a total value of $701,910.00. Following the completion of 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.53% of the stock is currently owned by company insiders.

United Rentals Stock Performance

Shares of United Rentals stock opened at $600.34 on Tuesday. The firm has a market capitalization of $39.21 billion, a P/E ratio of 15.49, a P/E/G ratio of 1.43 and a beta of 1.76. United Rentals, Inc. has a 52 week low of $585.27 and a 52 week 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 firm’s 50 day moving average is $709.06 and its two-hundred day moving average is $764.37.

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

United Rentals Increases Dividend

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

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.