United Rentals, Inc. (NYSE:URI) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in United Rentals, Inc. (NYSE:URI - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 77,257 shares of the construction company's stock after selling 1,978 shares during the period. Principal Financial Group Inc. owned about 0.12% of United Rentals worth $54,423,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC acquired a new position in shares of United Rentals during the fourth quarter worth about $26,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of United Rentals during the 3rd quarter valued at about $31,000. Carmichael Hill & Associates Inc. lifted its position in United Rentals by 80.0% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company's stock worth $36,000 after acquiring an additional 20 shares in the last quarter. Hanson & Doremus Investment Management purchased a new position in United Rentals in the 4th quarter worth approximately $33,000. Finally, HM Payson & Co. acquired a new stake in United Rentals in the third quarter valued at approximately $41,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Stock Performance

Shares of NYSE URI traded down $38.35 during mid-day trading on Friday, hitting $656.42. The company had a trading volume of 1,067,453 shares, compared to its average volume of 668,090. United Rentals, Inc. has a 12 month low of $596.48 and a 12 month high of $896.98. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92. The firm's 50 day simple moving average is $733.77 and its two-hundred day simple moving average is $769.42. The stock has a market cap of $42.87 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 1.46 and a beta of 1.68.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings data 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%. As a group, equities research analysts forecast that United Rentals, Inc. will post 44.93 earnings per share for the current year.

United Rentals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be given a dividend of $1.79 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This is an increase from United Rentals's previous quarterly dividend of $1.63. This represents a $7.16 annualized dividend and a dividend yield of 1.09%. United Rentals's payout ratio is currently 18.48%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Barclays boosted their target price on shares of United Rentals from $400.00 to $565.00 and gave the stock an "underweight" rating in a research report on Friday, October 25th. Baird R W raised United Rentals from a "strong sell" rating to a "hold" rating in a research report on Tuesday, January 14th. Morgan Stanley decreased their price objective on shares of United Rentals from $775.00 to $765.00 and set an "equal weight" rating for the company in a report on Monday, February 3rd. Bank of America upped their target price on shares of United Rentals from $800.00 to $910.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Finally, Truist Financial reissued a "buy" rating and issued a $956.00 price objective (down from $963.00) on shares of United Rentals in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $829.00.

About United Rentals

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.