Fmr LLC Grows Stake in United Rentals, Inc. (NYSE:URI)

Fmr LLC boosted its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 3.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,416,568 shares of the construction company's stock after acquiring an additional 85,325 shares during the quarter. Fmr LLC owned about 3.68% of United Rentals worth $1,956,768,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. RFP Financial Group LLC grew its holdings in United Rentals by 115.8% during the 2nd quarter. RFP Financial Group LLC now owns 41 shares of the construction company's stock valued at $27,000 after purchasing an additional 22 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of United Rentals during the third quarter valued at approximately $31,000. Carmichael Hill & Associates Inc. raised its holdings in shares of United Rentals by 80.0% in the third quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company's stock worth $36,000 after buying an additional 20 shares during the period. HHM Wealth Advisors LLC lifted its stake in shares of United Rentals by 280.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 57 shares of the construction company's stock worth $37,000 after acquiring an additional 42 shares during the last quarter. Finally, HM Payson & Co. bought a new stake in shares of United Rentals during the 3rd quarter worth approximately $41,000. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

United Rentals Stock Up 1.0 %

Shares of United Rentals stock opened at $873.17 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 1.38. The company has a market cap of $57.30 billion, a P/E ratio of 22.80, a PEG ratio of 2.03 and a beta of 1.68. The firm's 50 day moving average price is $821.86 and its 200-day moving average price is $733.58. United Rentals, Inc. has a 52-week low of $454.71 and a 52-week high of $896.98.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.49 by ($0.69). The firm had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $4.01 billion. United Rentals had a return on equity of 34.73% and a net margin of 17.12%. United Rentals's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $11.73 earnings per share. On average, sell-side analysts predict that United Rentals, Inc. will post 43.46 EPS for the current fiscal year.

United Rentals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.75%. The ex-dividend date is Wednesday, November 13th. United Rentals's dividend payout ratio is presently 17.03%.

Insider Transactions at United Rentals

In other news, SVP Anthony S. Leopold sold 900 shares of United Rentals stock in a transaction on Monday, October 28th. The shares were sold at an average price of $823.24, for a total transaction of $740,916.00. Following the completion of the sale, the senior vice president now directly owns 2,044 shares in the company, valued at approximately $1,682,702.56. The trade was a 30.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on URI. JPMorgan Chase & Co. increased their target price on United Rentals from $780.00 to $940.00 and gave the stock an "overweight" rating in a research note on Monday, September 23rd. Truist Financial raised their price target on shares of United Rentals from $954.00 to $955.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Argus raised their target price on shares of United Rentals from $840.00 to $880.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th. Citigroup boosted their price target on United Rentals from $930.00 to $955.00 and gave the company a "buy" rating in a report on Friday, October 25th. Finally, Robert W. Baird raised their price objective on United Rentals from $565.00 to $650.00 and gave the stock an "underperform" rating in a report on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $751.67.

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.

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