Raymond James Financial Inc. Purchases New Stake in United Rentals, Inc. (NYSE:URI)

Raymond James Financial Inc. acquired a new stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 233,509 shares of the construction company's stock, valued at approximately $164,493,000. Raymond James Financial Inc. owned about 0.36% of United Rentals at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in URI. ORG Wealth Partners LLC acquired a new position in United Rentals during the fourth quarter valued at $26,000. Hanson & Doremus Investment Management acquired a new position in shares of United Rentals during the 4th quarter worth about $33,000. Kestra Investment Management LLC acquired a new position in shares of United Rentals during the 4th quarter worth about $34,000. Promus Capital LLC acquired a new position in shares of United Rentals during the 4th quarter worth about $41,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new stake in United Rentals during the 4th quarter valued at about $42,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other United Rentals news, CFO William E. Grace sold 1,100 shares of United Rentals 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. The trade was a 13.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.53% of the stock is currently owned by company insiders.

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Wall Street Analyst Weigh In

Several brokerages recently issued reports on URI. Truist Financial reaffirmed a "buy" rating and set a $956.00 price objective (down previously from $963.00) on shares of United Rentals in a research note on Friday, January 31st. Morgan Stanley decreased their price objective on shares of United Rentals from $775.00 to $765.00 and set an "equal weight" rating on the stock in a report on Monday, February 3rd. JPMorgan Chase & Co. upped their price objective on shares of United Rentals from $940.00 to $1,000.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Citigroup reduced their target price on shares of United Rentals from $985.00 to $835.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Finally, Evercore ISI reduced their price objective on shares of United Rentals from $1,004.00 to $974.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, United Rentals presently has an average rating of "Moderate Buy" and an average target price of $829.00.

United Rentals Stock Performance

United Rentals stock traded up $2.75 during midday trading on Friday, hitting $628.63. 1,000,664 shares of the company's stock were exchanged, compared to its average volume of 727,954. 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 stock has a market cap of $41.05 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 1.43 and a beta of 1.76. The firm's 50 day simple moving average is $711.17 and its 200 day simple moving average is $764.91.

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

United Rentals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a $1.79 dividend. This is a boost from United Rentals's previous quarterly dividend of $1.63. The ex-dividend date was Wednesday, February 12th. This represents a $7.16 annualized dividend and a dividend yield of 1.14%. United Rentals's dividend payout ratio (DPR) is 18.48%.

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.