SVB Wealth LLC Invests $5.38 Million in United Rentals, Inc. (NYSE:URI)

SVB Wealth LLC purchased a new position in shares of United Rentals, Inc. (NYSE:URI) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,641 shares of the construction company’s stock, valued at approximately $5,383,000.

Several other large investors also recently bought and sold shares of the business. ORG Wealth Partners LLC acquired a new position in shares of United Rentals during the 4th quarter worth approximately $26,000. Hanson & Doremus Investment Management acquired a new stake in shares of United Rentals in the fourth quarter valued at approximately $33,000. Kestra Investment Management LLC purchased a new position in United Rentals during the fourth quarter worth approximately $34,000. Carmichael Hill & Associates Inc. boosted its stake in United Rentals by 80.0% during the third quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company’s stock worth $36,000 after buying an additional 20 shares during the last quarter. Finally, HM Payson & Co. purchased a new stake in United Rentals in the 3rd quarter valued at $41,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on URI shares. JPMorgan Chase & Co. boosted their price target on shares of United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Morgan Stanley decreased their target price on shares of United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Argus raised their price target on shares of United Rentals from $840.00 to $880.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Citigroup decreased their price objective on United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Truist Financial reiterated a “buy” rating and issued a $956.00 price objective (down from $963.00) on shares of United Rentals in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $829.00.

Insider Buying and Selling

In other United Rentals news, CFO William E. Grace sold 1,100 shares of the business’s stock in a transaction on Monday, February 24th. The shares were 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. The trade was a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.53% of the stock is owned by insiders.

United Rentals Stock Up 1.5 %

NYSE:URI opened at $642.49 on Friday. United Rentals, Inc. has a 52 week low of $596.48 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 stock’s fifty day moving average is $721.43 and its two-hundred day moving average is $768.19. The stock has a market capitalization of $41.96 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 1.43 and a beta of 1.68.

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

United Rentals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a $1.79 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 1.11%. This is a boost from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s payout ratio is 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.