United Rentals, Inc. (NYSE:URI) Position Cut by Legal & General Group Plc

Legal & General Group Plc reduced its stake in United Rentals, Inc. (NYSE:URI - Free Report) by 22.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 406,423 shares of the construction company's stock after selling 120,955 shares during the period. Legal & General Group Plc owned approximately 0.62% of United Rentals worth $286,301,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Invesco Ltd. boosted its position in shares of United Rentals by 7.4% in the fourth quarter. Invesco Ltd. now owns 922,452 shares of the construction company's stock worth $649,813,000 after buying an additional 63,657 shares during the period. Cerity Partners LLC boosted its holdings in United Rentals by 0.5% in the 4th quarter. Cerity Partners LLC now owns 106,834 shares of the construction company's stock worth $75,643,000 after acquiring an additional 582 shares during the period. Trek Financial LLC acquired a new stake in United Rentals in the fourth quarter valued at approximately $394,000. Benchmark Investment Advisors LLC grew its position in United Rentals by 38.6% in the fourth quarter. Benchmark Investment Advisors LLC now owns 5,651 shares of the construction company's stock valued at $3,981,000 after acquiring an additional 1,573 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of United Rentals during the fourth quarter valued at approximately $578,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at United Rentals

In other news, CFO William E. Grace sold 1,100 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $638.10, for a total transaction of $701,910.00. Following the completion of the transaction, the chief financial officer now owns 6,880 shares in the company, valued at approximately $4,390,128. This represents a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is currently owned by company insiders.

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United Rentals Stock Performance

Shares of United Rentals stock traded up $5.10 during trading hours on Monday, reaching $588.00. The company's stock had a trading volume of 306,415 shares, compared to its average volume of 588,492. United Rentals, Inc. has a one year low of $525.91 and a one year high of $896.98. The company's 50 day simple moving average is $644.29 and its 200 day simple moving average is $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. The stock has a market cap of $38.42 billion, a P/E ratio of 15.17, a price-to-earnings-growth ratio of 1.43 and a beta of 1.72.

United Rentals (NYSE:URI - Get Free Report) last issued its earnings results on Wednesday, January 29th. The construction company reported $11.59 earnings per share (EPS) 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%. As a group, analysts expect that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given a $1.79 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This is a positive change from United Rentals's previous quarterly dividend of $1.63. This represents a $7.16 annualized dividend and a yield of 1.22%. United Rentals's dividend payout ratio (DPR) is currently 18.48%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on URI. JPMorgan Chase & Co. raised their price target on shares of United Rentals from $940.00 to $1,000.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Truist Financial lowered their target price on United Rentals from $956.00 to $732.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Evercore ISI cut their price target on United Rentals from $1,004.00 to $974.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. Baird R W upgraded United Rentals from a "strong sell" rating to a "hold" rating in a research note on Tuesday, January 14th. Finally, Morgan Stanley cut their target price on United Rentals from $775.00 to $765.00 and set an "equal weight" rating on the stock in a research report on Monday, February 3rd. Two 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. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $752.14.

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.