Allspring Global Investments Holdings LLC Sells 691 Shares of United Rentals, Inc. (NYSE:URI)

Allspring Global Investments Holdings LLC trimmed its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 5.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,317 shares of the construction company's stock after selling 691 shares during the period. Allspring Global Investments Holdings LLC's holdings in United Rentals were worth $8,497,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of URI. ORG Wealth Partners LLC purchased a new position in United Rentals in the 4th quarter worth approximately $26,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in United Rentals in the 3rd quarter worth approximately $31,000. Hanson & Doremus Investment Management purchased a new position in United Rentals in the 4th quarter worth approximately $33,000. Carmichael Hill & Associates Inc. increased its stake in United Rentals by 80.0% in the 3rd quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company's stock worth $36,000 after purchasing an additional 20 shares during the period. Finally, HM Payson & Co. purchased a new position in United Rentals in the 3rd quarter worth approximately $41,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Stock Down 5.5 %

Shares of NYSE URI traded down $38.35 during mid-day trading on Friday, hitting $656.42. 1,067,449 shares of the stock traded hands, compared to its average volume of 668,032. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.92 and a current ratio of 0.98. United Rentals, Inc. has a 52 week low of $596.48 and a 52 week high of $896.98. The company has a market cap of $42.87 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 1.46 and a beta of 1.68. The stock has a fifty day moving average price of $733.77 and a 200-day moving average price of $769.42.

United Rentals (NYSE:URI - Get Free Report) last released 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%. Research analysts anticipate that United Rentals, Inc. will post 44.93 EPS for the current year.

United Rentals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be issued a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 1.09%. This is an increase from United Rentals's previous quarterly dividend of $1.63. The ex-dividend date is Wednesday, February 12th. United Rentals's payout ratio is 18.48%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on URI. Bank of America lifted their price target on United Rentals from $800.00 to $910.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Baird R W raised United Rentals from a "strong sell" rating to a "hold" rating in a research note on Tuesday, January 14th. Evercore ISI reduced their target price on United Rentals from $1,004.00 to $974.00 and set an "outperform" rating on the stock in a research note on Wednesday. Barclays boosted their target price on United Rentals from $400.00 to $565.00 and gave the company an "underweight" rating in a research note on Friday, October 25th. Finally, Truist Financial reissued a "buy" rating and set a $956.00 target price (down from $963.00) on shares of United Rentals in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $829.00.

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.