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

FMR LLC reduced its position in United Rentals, Inc. (NYSE:URI - Free Report) by 4.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,308,874 shares of the construction company's stock after selling 107,694 shares during the quarter. FMR LLC owned about 3.54% of United Rentals worth $1,626,463,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Rialto Wealth Management LLC acquired a new position in United Rentals during the fourth quarter valued at approximately $25,000. ORG Wealth Partners LLC acquired a new position in shares of United Rentals during the 4th quarter worth $26,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of United Rentals during the 4th quarter worth $27,000. Meeder Asset Management Inc. boosted its stake in United Rentals by 241.7% in 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 in the last quarter. Finally, Hanson & Doremus Investment Management bought a new position in United Rentals in the fourth quarter valued at about $33,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO William E. Grace sold 1,100 shares of United Rentals stock in a transaction that occurred on 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 owns 6,880 shares of the company's stock, valued at approximately $4,390,128. The trade was a 13.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.51% of the stock is currently owned by corporate insiders.

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Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on URI shares. Bank of America decreased their price target on shares of United Rentals from $850.00 to $750.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Truist Financial lowered their price target on shares of United Rentals from $956.00 to $732.00 and set a "buy" rating for the company in a report on Tuesday. JPMorgan Chase & Co. raised their price objective on United Rentals from $940.00 to $1,000.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Morgan Stanley dropped their target price on United Rentals from $775.00 to $765.00 and set an "equal weight" rating for the company 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 objective for the company in a research note on Tuesday, January 14th. 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, the company presently has a consensus rating of "Hold" and a consensus target price of $752.14.

United Rentals Trading Up 0.3 %

Shares of United Rentals stock traded up $1.63 on Friday, reaching $581.57. 769,125 shares of the company's stock were exchanged, compared to its average volume of 589,214. The firm's 50-day moving average is $644.29 and its two-hundred day moving average is $740.61. The company has a market capitalization of $38.00 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 1.43 and a beta of 1.72. 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 posted its quarterly earnings results 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%. Sell-side analysts predict that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Wednesday, February 12th. This is an increase from United Rentals's previous quarterly dividend of $1.63. United Rentals's payout ratio is presently 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.