Allstate Corp purchased a new stake in United Rentals, Inc. (NYSE:URI - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,955 shares of the construction company's stock, valued at approximately $1,377,000.
Other large investors have also made changes to their positions in the company. Rialto Wealth Management LLC bought a new position in shares of United Rentals in the fourth quarter worth about $25,000. ORG Wealth Partners LLC acquired a new position in United Rentals during the 4th quarter valued at about $26,000. Murphy & Mullick Capital Management Corp bought a new position in shares of United Rentals in the 4th quarter valued at about $27,000. Hanson & Doremus Investment Management bought a new stake in shares of United Rentals during the fourth quarter worth approximately $33,000. Finally, Kestra Investment Management LLC acquired a new stake in United Rentals during the 4th quarter worth $34,000. Institutional investors own 96.26% of the company's stock.
Insiders Place Their Bets
In other United Rentals news, CFO William E. Grace sold 1,100 shares of the company'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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.53% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several research analysts have recently weighed in on URI shares. Truist Financial reiterated a "buy" rating and issued a $956.00 price target (down previously from $963.00) on shares of United Rentals in a report on Friday, January 31st. JPMorgan Chase & Co. upped their target price on shares of United Rentals from $940.00 to $1,000.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Baird R W upgraded shares of United Rentals from a "strong sell" rating to a "hold" rating in a report on Tuesday, January 14th. Evercore ISI lowered their price objective on United Rentals from $1,004.00 to $974.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 19th. Finally, Morgan Stanley reduced their price objective on shares of United Rentals from $775.00 to $765.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $804.15.
Read Our Latest Report on URI
United Rentals Price Performance
Shares of United Rentals stock traded down $50.53 on Thursday, hitting $595.64. 448,778 shares of the company traded hands, compared to its average volume of 567,775. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42. United Rentals, Inc. has a 12-month low of $585.27 and a 12-month high of $896.98. The firm's 50-day simple moving average is $678.19 and its 200 day simple moving average is $753.23. The company has a market cap of $38.91 billion, a P/E ratio of 15.42, a P/E/G ratio of 1.43 and a beta of 1.76.
United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The construction company reported $11.59 EPS 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%. Analysts expect that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.
United Rentals Increases Dividend
The company also recently announced 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 of this dividend was Wednesday, February 12th. This represents a $7.16 annualized dividend and a yield of 1.20%. This is an increase from United Rentals's previous quarterly dividend of $1.63. United Rentals's dividend payout ratio is currently 18.48%.
About United Rentals
(
Free Report)
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.
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