Fmr LLC Sells 107,694 Shares of United Rentals, Inc. (NYSE:URI)

Fmr LLC lowered its holdings in United Rentals, Inc. (NYSE:URI) by 4.5% in the 4th quarter, HoldingsChannel reports. The firm owned 2,308,874 shares of the construction company’s stock after selling 107,694 shares during the quarter. Fmr LLC’s holdings in United Rentals were worth $1,626,463,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new stake in United Rentals during the fourth quarter worth $695,716,000. Proficio Capital Partners LLC purchased a new stake in shares of United Rentals during the 4th quarter worth $171,733,000. Raymond James Financial Inc. bought a new stake in United Rentals during the fourth quarter valued at about $164,493,000. Alliancebernstein L.P. grew its stake in United Rentals by 16.0% in the fourth quarter. Alliancebernstein L.P. now owns 1,250,324 shares of the construction company’s stock valued at $880,778,000 after purchasing an additional 172,340 shares during the last quarter. Finally, TD Asset Management Inc. raised its holdings in United Rentals by 207.8% in the fourth quarter. TD Asset Management Inc. now owns 234,366 shares of the construction company’s stock worth $165,097,000 after purchasing an additional 158,214 shares in the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on URI shares. Baird R W raised shares of United Rentals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 14th. Citigroup reduced their price target on United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Truist Financial reiterated a “buy” rating and set a $956.00 price objective (down previously from $963.00) on shares of United Rentals in a report on Friday, January 31st. Morgan Stanley reduced their target price on United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Finally, Robert W. Baird raised 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, January 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, United Rentals has a consensus rating of “Moderate Buy” and a consensus target price of $804.15.

United Rentals Price Performance

NYSE:URI opened at $564.56 on Monday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92. The company has a 50 day moving average price of $669.75 and a 200-day moving average price of $750.57. United Rentals, Inc. has a 1-year low of $537.33 and a 1-year high of $896.98. The firm has a market cap of $36.88 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 1.43 and a beta of 1.72.

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 analysts’ consensus estimates of $11.65 by ($0.06). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. Equities research analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a $1.79 dividend. This is an increase from United Rentals’s previous quarterly dividend of $1.63. This represents a $7.16 annualized dividend and a yield of 1.27%. The ex-dividend date was Wednesday, February 12th. United Rentals’s dividend payout ratio is currently 18.48%.

Insider Buying and Selling at United Rentals

In other news, CFO William E. Grace sold 1,100 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 6,880 shares in the company, valued at $4,390,128. This represents a 13.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is currently owned by insiders.

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.