Alerus Financial NA Takes $2.69 Million Position in United Rentals, Inc. (NYSE:URI)

Alerus Financial NA acquired 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 firm acquired 3,812 shares of the construction company’s stock, valued at approximately $2,685,000.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of United Rentals in the 4th quarter valued at about $695,716,000. Proficio Capital Partners LLC acquired a new stake in United Rentals in the 4th quarter valued at approximately $171,733,000. Raymond James Financial Inc. bought a new stake in United Rentals in the 4th quarter valued at approximately $164,493,000. TD Asset Management Inc. boosted its position in United Rentals by 207.8% during the 4th quarter. TD Asset Management Inc. now owns 234,366 shares of the construction company’s stock worth $165,097,000 after acquiring an additional 158,214 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of United Rentals by 15.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock worth $637,968,000 after acquiring an additional 105,287 shares in the last quarter. 96.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on URI. Truist Financial restated a “buy” rating and set a $956.00 target price (down previously from $963.00) on shares of United Rentals in a report on Friday, January 31st. Evercore ISI decreased their price objective on United Rentals from $1,004.00 to $974.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Bank of America dropped their target price on United Rentals from $850.00 to $750.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Morgan Stanley decreased their price target on United Rentals from $775.00 to $765.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. increased their price objective on United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $804.15.

United Rentals Stock Up 0.9 %

United Rentals stock opened at $647.13 on Friday. United Rentals, Inc. has a twelve month low of $585.27 and a twelve month high of $896.98. The company’s 50-day moving average price is $689.85 and its two-hundred day moving average price is $755.06. 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 has a market cap of $42.26 billion, a P/E ratio of 16.70, a P/E/G ratio of 1.43 and a beta of 1.76.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, January 29th. The construction company reported $11.59 EPS for the quarter, missing analysts’ consensus estimates of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. As a group, analysts expect 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. Shareholders of record on Wednesday, February 12th were paid a $1.79 dividend. This is a boost from United Rentals’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.16 annualized dividend and a yield of 1.11%. United Rentals’s payout ratio is 18.48%.

Insider Buying and Selling at United Rentals

In related 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 value of $701,910.00. Following the completion of the sale, the chief financial officer now directly owns 6,880 shares in the company, valued at approximately $4,390,128. The trade was a 13.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.53% of the company’s stock.

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.