Relyea Zuckerberg Hanson LLC Makes New $347,000 Investment in United Rentals, Inc. (NYSE:URI)

Relyea Zuckerberg Hanson LLC purchased a new stake in shares of United Rentals, Inc. (NYSE:URI) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 492 shares of the construction company’s stock, valued at approximately $347,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in URI. International Assets Investment Management LLC boosted its position in United Rentals by 82,462.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock worth $1,300,962,000 after buying an additional 1,604,715 shares during the period. Marshall Wace LLP lifted its holdings in shares of United Rentals by 259.3% during the second quarter. Marshall Wace LLP now owns 150,152 shares of the construction company’s stock worth $97,108,000 after purchasing an additional 108,360 shares during the period. JPMorgan Chase & Co. grew its stake 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 purchasing an additional 105,287 shares during the last quarter. FMR LLC increased its holdings in United Rentals by 3.7% in the third quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock valued at $1,956,768,000 after purchasing an additional 85,325 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in United Rentals by 10.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 704,145 shares of the construction company’s stock worth $570,167,000 after purchasing an additional 66,957 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Anthony S. Leopold sold 900 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $823.24, for a total value of $740,916.00. Following the completion of the sale, the senior vice president now directly owns 2,044 shares of the company’s stock, valued at $1,682,702.56. This represents a 30.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.49% of the company’s stock.

Wall Street Analysts Forecast Growth

URI has been the topic of a number of analyst reports. Bank of America upped their price target on United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Robert W. Baird upgraded shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price target for the company in a report on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Truist Financial decreased their price objective on shares of United Rentals from $965.00 to $963.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Argus boosted 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $805.08.

United Rentals Price Performance

URI stock opened at $770.81 on Friday. United Rentals, Inc. has a 1 year low of $553.22 and a 1 year high of $896.98. The stock has a market capitalization of $50.58 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 1.46 and a beta of 1.69. The company’s 50-day moving average is $778.79 and its 200-day moving average is $760.78. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.82 and a quick ratio of 0.77.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period last year, the business posted $11.73 EPS. The company’s revenue was up 6.0% on a year-over-year basis. Equities research analysts expect that United Rentals, Inc. will post 43.46 EPS for the current fiscal year.

United Rentals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $6.52 annualized dividend and a yield of 0.85%. United Rentals’s payout ratio is 17.03%.

United Rentals Company 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.