Envestnet Asset Management Inc. Grows Stock Position in United Rentals, Inc. (NYSE:URI)

Envestnet Asset Management Inc. boosted its stake in United Rentals, Inc. (NYSE:URI - Free Report) by 10.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 125,163 shares of the construction company's stock after purchasing an additional 12,028 shares during the period. Envestnet Asset Management Inc. owned approximately 0.19% of United Rentals worth $88,170,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in URI. Rialto Wealth Management LLC bought a new stake in shares of United Rentals in the fourth quarter worth $25,000. ORG Wealth Partners LLC bought a new stake in shares of United Rentals during the 4th quarter valued at about $26,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of United Rentals in the fourth quarter worth approximately $27,000. Meeder Asset Management Inc. grew its position in United Rentals by 241.7% during the fourth quarter. Meeder Asset Management Inc. now owns 41 shares of the construction company's stock valued at $29,000 after buying an additional 29 shares during the period. Finally, Hanson & Doremus Investment Management bought a new stake in United Rentals during the fourth quarter valued at approximately $33,000. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on URI shares. Bank of America cut their price objective on shares of United Rentals from $850.00 to $750.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Citigroup cut their price target on United Rentals from $720.00 to $650.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Baird R W upgraded United Rentals from a "strong sell" rating to a "hold" rating in a research report on Tuesday, January 14th. Truist Financial lowered their price objective on United Rentals from $956.00 to $732.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, Sanford C. Bernstein raised shares of United Rentals from an "underperform" rating to a "market perform" rating and reduced their target price for the stock from $705.00 to $666.00 in a report on Tuesday, March 25th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $752.14.

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Insider Activity at United Rentals

In other news, CFO William E. Grace sold 1,100 shares of the business's 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 sale, the chief financial officer now directly owns 6,880 shares in the company, valued at $4,390,128. The trade was a 13.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.53% of the stock is owned by insiders.

United Rentals Price Performance

Shares of URI traded up $4.72 during midday trading on Monday, hitting $587.62. 227,068 shares of the company traded hands, compared to its average volume of 735,456. The stock has a market cap of $38.39 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 1.43 and a beta of 1.72. The firm has a 50 day moving average of $644.29 and a 200-day moving average of $740.17. 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 $525.91 and a 52 week high of $896.98.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings results 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%. On average, analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 1.22%. The ex-dividend date was Wednesday, February 12th. This is a boost from United Rentals's previous quarterly dividend of $1.63. United Rentals's payout ratio is currently 18.48%.

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.