Principal Financial Group Inc. Buys 2,554 Shares of United Rentals, Inc. (NYSE:URI)

Principal Financial Group Inc. lifted its stake in United Rentals, Inc. (NYSE:URI - Free Report) by 3.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 79,235 shares of the construction company's stock after purchasing an additional 2,554 shares during the period. Principal Financial Group Inc. owned 0.12% of United Rentals worth $64,159,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Crewe Advisors LLC bought a new stake in United Rentals during the 1st quarter valued at approximately $27,000. RFP Financial Group LLC lifted its stake in shares of United Rentals by 115.8% in 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 period. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of United Rentals during the third quarter valued at approximately $31,000. Carmichael Hill & Associates Inc. grew its stake in 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 purchasing an additional 20 shares during the period. Finally, HHM Wealth Advisors LLC raised its holdings in United Rentals by 280.0% in the second quarter. HHM Wealth Advisors LLC now owns 57 shares of the construction company's stock worth $37,000 after purchasing an additional 42 shares in the last quarter. Institutional investors own 96.26% of the company's stock.

United Rentals Stock Performance

NYSE:URI traded up $12.58 during mid-day trading on Friday, reaching $875.01. The company's stock had a trading volume of 468,375 shares, compared to its average volume of 579,704. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38. The stock has a market cap of $57.42 billion, a P/E ratio of 22.85, a PEG ratio of 2.04 and a beta of 1.68. The firm's fifty day moving average price is $791.80 and its two-hundred day moving average price is $720.61. United Rentals, Inc. has a 12-month low of $435.80 and a 12-month high of $888.62.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The construction company reported $11.80 earnings per share for the quarter, missing the consensus estimate of $12.49 by ($0.69). United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The company had revenue of $3.99 billion for the quarter, compared to analysts' expectations of $4.01 billion. During the same period in the previous year, the firm earned $11.73 earnings per share. The firm's revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities analysts forecast that United Rentals, Inc. will post 43.66 EPS for the current fiscal year.

United Rentals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a $1.63 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.75%. United Rentals's dividend payout ratio (DPR) is currently 17.03%.

Insider Buying and Selling

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $823.24, for a total value of $740,916.00. Following the transaction, the senior vice president now owns 2,044 shares of the company's stock, valued at approximately $1,682,702.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on URI shares. Barclays boosted their target price on shares of United Rentals from $400.00 to $565.00 and gave the company an "underweight" rating in a report on Friday, October 25th. Truist Financial upped their price objective on shares of United Rentals from $954.00 to $955.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Citigroup raised their target price on shares of United Rentals from $930.00 to $955.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Evercore ISI boosted their price target on United Rentals from $774.00 to $795.00 and gave the stock an "outperform" rating in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. raised their price objective on United Rentals from $780.00 to $940.00 and gave the company an "overweight" rating in a research report on Monday, September 23rd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $742.50.

United Rentals Company 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.