Congress Asset Management Co. Has $2.86 Million Holdings in United Rentals, Inc. (NYSE:URI)

Congress Asset Management Co. reduced its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 14.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,058 shares of the construction company's stock after selling 670 shares during the quarter. Congress Asset Management Co.'s holdings in United Rentals were worth $2,859,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Covenant Asset Management LLC bought a new position in shares of United Rentals during the 4th quarter worth approximately $493,000. Myriad Asset Management US LP bought a new position in shares of United Rentals during the 4th quarter worth approximately $1,157,000. Nations Financial Group Inc. IA ADV grew its stake in shares of United Rentals by 3.5% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 1,577 shares of the construction company's stock worth $1,111,000 after acquiring an additional 54 shares in the last quarter. Adell Harriman & Carpenter Inc. grew its stake in shares of United Rentals by 1.8% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 814 shares of the construction company's stock worth $573,000 after acquiring an additional 14 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its stake in shares of United Rentals by 13.3% during the 4th quarter. V Square Quantitative Management LLC now owns 2,475 shares of the construction company's stock worth $1,743,000 after acquiring an additional 291 shares in the last quarter. 96.26% of the stock is owned by institutional investors.

United Rentals Stock Performance

United Rentals stock traded down $38.35 during mid-day trading on Friday, hitting $656.42. 1,067,453 shares of the company's stock traded hands, compared to its average volume of 668,090. The firm has a 50 day simple moving average of $731.32 and a two-hundred day simple moving average of $769.34. United Rentals, Inc. has a fifty-two week low of $596.48 and a fifty-two week high of $896.98. The stock has a market cap of $42.87 billion, a price-to-earnings ratio of 16.94, a P/E/G ratio of 1.46 and a beta of 1.68. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly 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 net margin of 16.78% and a return on equity of 34.21%. On average, research analysts expect that United Rentals, Inc. will post 44.93 EPS for the current fiscal year.

United Rentals Increases Dividend

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

Analyst Ratings Changes

Several research firms recently weighed in on URI. Evercore ISI decreased their target price on shares of United Rentals from $1,004.00 to $974.00 and set an "outperform" rating for the company in a research note on Wednesday. Citigroup decreased their target price on shares of United Rentals from $985.00 to $835.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. JPMorgan Chase & Co. raised their target price on shares of United Rentals from $940.00 to $1,000.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Truist Financial reissued a "buy" rating and issued a $956.00 target price (down from $963.00) on shares of United Rentals in a research note on Friday, January 31st. Finally, Argus raised their target price on shares of United Rentals from $840.00 to $880.00 and gave the company a "buy" rating in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $829.00.

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.