Summit X LLC Raises Stock Holdings in United Rentals, Inc. (NYSE:URI)

Summit X LLC lifted its holdings in United Rentals, Inc. (NYSE:URI) by 19.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 414 shares of the construction company’s stock after buying an additional 66 shares during the quarter. Summit X LLC’s holdings in United Rentals were worth $292,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of URI. Proficio Capital Partners LLC purchased a new stake in shares of United Rentals in the fourth quarter worth approximately $171,733,000. Raymond James Financial Inc. purchased a new stake in shares of United Rentals in the fourth quarter worth approximately $164,493,000. JPMorgan Chase & Co. raised its holdings in shares of United Rentals by 15.4% in the third quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock worth $637,968,000 after buying an additional 105,287 shares during the period. FMR LLC raised its holdings in shares of United Rentals by 3.7% in the third quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock worth $1,956,768,000 after buying an additional 85,325 shares during the period. Finally, National Pension Service increased its holdings in United Rentals by 79.8% during the 4th quarter. National Pension Service now owns 167,813 shares of the construction company’s stock worth $118,214,000 after purchasing an additional 74,479 shares during the period. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at United Rentals

In other news, CFO William E. Grace sold 1,100 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $638.10, for a total transaction of $701,910.00. Following the transaction, the chief financial officer now directly owns 6,880 shares in the company, valued at $4,390,128. The trade was a 13.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on URI. Evercore ISI reduced their price objective on United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Truist Financial restated a “buy” rating and set a $956.00 price objective (down from $963.00) on shares of United Rentals in a report on Friday, January 31st. Argus raised their price objective on United Rentals from $840.00 to $880.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. lifted their price target on United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Morgan Stanley cut their price target on United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $829.00.

United Rentals Price Performance

Shares of United Rentals stock opened at $609.89 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. United Rentals, Inc. has a twelve month low of $585.27 and a twelve month high of $896.98. The business has a 50-day moving average price of $705.09 and a 200 day moving average price of $762.28. The firm has a market cap of $39.83 billion, a PE ratio of 15.74, a P/E/G ratio of 1.43 and a beta of 1.76.

United Rentals (NYSE:URI) last announced its quarterly earnings results 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%. Sell-side analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a dividend of $1.79 per share. This is a boost from United Rentals’s previous quarterly dividend of $1.63. This represents a $7.16 annualized dividend and a dividend yield of 1.17%. The ex-dividend date was Wednesday, February 12th. United Rentals’s payout ratio is currently 18.48%.

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.