Geode Capital Management LLC Grows Position in United Rentals, Inc. (NYSE:URI)

Geode Capital Management LLC raised its position in United Rentals, Inc. (NYSE:URI - Free Report) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,587,203 shares of the construction company's stock after buying an additional 20,401 shares during the quarter. Geode Capital Management LLC owned approximately 2.43% of United Rentals worth $1,115,142,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of URI. Rialto Wealth Management LLC purchased a new stake in United Rentals in the 4th quarter valued at $25,000. ORG Wealth Partners LLC purchased a new stake in shares of United Rentals in the fourth quarter valued at about $26,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of United Rentals in the fourth quarter valued at about $27,000. Meeder Asset Management Inc. boosted its stake in shares of United Rentals by 241.7% during the fourth quarter. Meeder Asset Management Inc. now owns 41 shares of the construction company's stock worth $29,000 after buying an additional 29 shares during the period. Finally, Hanson & Doremus Investment Management acquired a new position in United Rentals in the 4th quarter valued at about $33,000. 96.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO William E. Grace sold 1,100 shares of the 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 transaction, the chief financial officer now directly owns 6,880 shares in the company, valued at $4,390,128. This represents a 13.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.53% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Truist Financial reaffirmed a "buy" rating and set a $956.00 price objective (down from $963.00) on shares of United Rentals in a research report on Friday, January 31st. Morgan Stanley decreased their price target on United Rentals from $775.00 to $765.00 and set an "equal weight" rating for the company in a report on Monday, February 3rd. Baird R W raised shares of United Rentals from a "strong sell" rating to a "hold" rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. raised their target price on shares of United Rentals from $940.00 to $1,000.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Finally, Citigroup dropped their price target on shares of United Rentals from $985.00 to $835.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. One investment 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $804.15.

United Rentals Price Performance

Shares of URI stock traded down $54.90 during midday trading on Thursday, reaching $591.27. 760,606 shares of the company traded hands, compared to its average volume of 569,303. The firm has a market cap of $38.63 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 1.43 and a beta of 1.76. 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 $674.26 and its two-hundred day simple moving average is $752.11. United Rentals, Inc. has a 1-year low of $585.27 and a 1-year high of $896.98.

United Rentals (NYSE:URI - Get Free Report) last posted its 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%. On average, equities research analysts expect that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The company also recently announced 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 an increase from United Rentals's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.16 annualized dividend and a yield of 1.21%. United Rentals's payout ratio is presently 18.48%.

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.