Red Cedar Investment Management LLC reduced its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 36.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,458 shares of the construction company's stock after selling 1,382 shares during the period. Red Cedar Investment Management LLC's holdings in United Rentals were worth $1,732,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. ORG Wealth Partners LLC acquired a new position in United Rentals in the 4th quarter valued at about $26,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of United Rentals during the third quarter worth $31,000. Hanson & Doremus Investment Management acquired a new stake in shares of United Rentals in the fourth quarter valued at $33,000. Carmichael Hill & Associates Inc. boosted its holdings in United Rentals by 80.0% in the third quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company's stock valued at $36,000 after purchasing an additional 20 shares during the period. Finally, HM Payson & Co. acquired a new position in United Rentals during the 3rd quarter worth $41,000. Hedge funds and other institutional investors own 96.26% of the company's stock.
United Rentals Stock Performance
URI stock traded down $11.93 during trading on Wednesday, hitting $708.42. 637,402 shares of the company's stock traded hands, compared to its average volume of 660,600. United Rentals, Inc. has a 52 week low of $596.48 and a 52 week high of $896.98. The stock has a fifty day moving average price of $735.61 and a two-hundred day moving average price of $769.95. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $46.27 billion, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 1.52 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 analysts anticipate that United Rentals, Inc. will post 44.93 EPS for the current fiscal year.
United Rentals Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be issued a $1.79 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $7.16 annualized dividend and a dividend yield of 1.01%. This is a boost from United Rentals's previous quarterly dividend of $1.63. United Rentals's dividend payout ratio is currently 18.48%.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on URI shares. Bank of America upped their target price on shares of United Rentals from $800.00 to $910.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Citigroup decreased their price objective on shares of United Rentals from $985.00 to $835.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Morgan Stanley lowered their price objective on United Rentals from $775.00 to $765.00 and set an "equal weight" rating for the company in a research report on Monday, February 3rd. Evercore ISI cut their target price on United Rentals from $1,004.00 to $974.00 and set an "outperform" rating on the stock in a research report on Wednesday. Finally, JPMorgan Chase & Co. increased their price target on shares of United Rentals from $940.00 to $1,000.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $829.00.
Read Our Latest Stock Report on United Rentals
United Rentals Profile
(
Free Report)
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.
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