Franklin Resources Inc. Purchases 57,002 Shares of United Rentals, Inc. (NYSE:URI)

Franklin Resources Inc. grew its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 6.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 996,014 shares of the construction company's stock after acquiring an additional 57,002 shares during the quarter. Franklin Resources Inc. owned about 1.52% of United Rentals worth $862,110,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Synovus Financial Corp increased its stake in United Rentals by 8.4% during the 3rd quarter. Synovus Financial Corp now owns 634 shares of the construction company's stock worth $513,000 after buying an additional 49 shares during the period. Tidal Investments LLC raised its stake in United Rentals by 8.1% during the third quarter. Tidal Investments LLC now owns 8,295 shares of the construction company's stock valued at $6,717,000 after buying an additional 624 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in United Rentals during the third quarter worth $2,147,000. Sanctuary Advisors LLC lifted its position in shares of United Rentals by 219.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 22,824 shares of the construction company's stock worth $19,385,000 after buying an additional 15,669 shares during the last quarter. Finally, Unigestion Holding SA acquired a new position in United Rentals in the third quarter valued at approximately $566,000. Institutional investors and hedge funds own 96.26% of the company's stock.

Insider Transactions at United Rentals

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of United Rentals stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $823.24, for a total transaction of $740,916.00. Following the sale, the senior vice president now directly owns 2,044 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on URI shares. Truist Financial raised their target price on United Rentals from $954.00 to $955.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Evercore ISI lifted their target price on United Rentals from $774.00 to $795.00 and gave the company an "outperform" rating in a research note on Monday, August 19th. Barclays increased their price target on United Rentals from $400.00 to $565.00 and gave the stock an "underweight" rating in a research note on Friday, October 25th. Robert W. Baird boosted their target price on United Rentals from $565.00 to $650.00 and gave the stock an "underperform" rating in a report on Thursday, October 3rd. Finally, Citigroup upped their price target on shares of United Rentals from $955.00 to $985.00 and gave the company a "buy" rating in a report on Monday. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, United Rentals currently has a consensus rating of "Hold" and an average price target of $770.00.

United Rentals Stock Performance

NYSE:URI traded down $7.77 during midday trading on Friday, reaching $778.82. The stock had a trading volume of 383,943 shares, compared to its average volume of 544,035. The stock has a market capitalization of $51.11 billion, a P/E ratio of 20.34, a PEG ratio of 1.87 and a beta of 1.66. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.82 and a quick ratio of 0.77. United Rentals, Inc. has a 1-year low of $533.70 and a 1-year high of $896.98. The firm's fifty day simple moving average is $834.50 and its 200-day simple moving average is $746.93.

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

United Rentals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a $1.63 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $6.52 annualized dividend and a yield of 0.84%. United Rentals's dividend payout ratio is 17.03%.

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.