Pictet Asset Management Holding SA Buys 5,782 Shares of United Rentals, Inc. (NYSE:URI)

Pictet Asset Management Holding SA grew its stake in United Rentals, Inc. (NYSE:URI - Free Report) by 16.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,262 shares of the construction company's stock after acquiring an additional 5,782 shares during the quarter. Pictet Asset Management Holding SA owned 0.06% of United Rentals worth $28,362,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Rialto Wealth Management LLC bought a new position in United Rentals in the 4th quarter worth about $25,000. ORG Wealth Partners LLC purchased a new stake in shares of United Rentals during the fourth quarter valued at approximately $26,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of United Rentals during the fourth quarter valued at approximately $27,000. Hanson & Doremus Investment Management bought a new stake in shares of United Rentals during the fourth quarter valued at approximately $33,000. Finally, Kestra Investment Management LLC purchased a new position in United Rentals in the 4th quarter worth approximately $34,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 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 transaction of $701,910.00. Following the sale, the chief financial officer now owns 6,880 shares in the company, valued at $4,390,128. This trade represents a 13.78 % decrease in their ownership of the stock. 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.

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Analyst Upgrades and Downgrades

URI has been the subject of a number of research analyst reports. Evercore ISI reduced their target price on United Rentals from $1,004.00 to $974.00 and set an "outperform" rating for the company in a report on Wednesday, February 19th. Baird R W upgraded United Rentals from a "strong sell" rating to a "hold" rating in a report on Tuesday, January 14th. Morgan Stanley lowered their target price on shares of United Rentals from $775.00 to $765.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. Truist Financial reiterated a "buy" rating and issued a $956.00 price target (down from $963.00) on shares of United Rentals in a research note on Friday, January 31st. Finally, Bank of America decreased their price objective on shares of United Rentals from $850.00 to $750.00 and set a "buy" rating for the company in a report on Friday, March 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $804.15.

United Rentals Stock Performance

Shares of NYSE URI traded down $54.90 during trading on Thursday, hitting $591.27. The company had a trading volume of 760,606 shares, compared to its average volume of 568,865. United Rentals, Inc. has a 12 month low of $585.27 and a 12 month high of $896.98. 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 firm has a market capitalization of $38.63 billion, a P/E ratio of 15.26, a price-to-earnings-growth ratio of 1.43 and a beta of 1.76. The stock has a 50 day simple moving average of $678.19 and a 200 day simple moving average of $753.23.

United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The construction company reported $11.59 earnings per share for the quarter, missing the consensus estimate of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. As a group, analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 1.21%. The ex-dividend date was Wednesday, February 12th. This is an increase from United Rentals's previous quarterly dividend of $1.63. United Rentals's dividend payout ratio (DPR) is 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.