United Rentals, Inc. (NYSE:URI) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its position in United Rentals, Inc. (NYSE:URI) by 22.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,009 shares of the construction company’s stock after selling 5,482 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in United Rentals were worth $10,900,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Ballentine Partners LLC lifted its holdings in shares of United Rentals by 2.1% in the fourth quarter. Ballentine Partners LLC now owns 889 shares of the construction company’s stock valued at $510,000 after buying an additional 18 shares during the period. Oak Ridge Investments LLC raised its stake in United Rentals by 0.3% during the 4th quarter. Oak Ridge Investments LLC now owns 5,816 shares of the construction company’s stock valued at $3,335,000 after purchasing an additional 20 shares during the period. Caprock Group LLC lifted its holdings in shares of United Rentals by 2.3% in the fourth quarter. Caprock Group LLC now owns 900 shares of the construction company’s stock valued at $516,000 after purchasing an additional 20 shares in the last quarter. AdvisorNet Financial Inc boosted its position in shares of United Rentals by 71.4% in the fourth quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock worth $28,000 after buying an additional 20 shares during the period. Finally, Argus Investors Counsel Inc. grew its holdings in shares of United Rentals by 0.8% during the fourth quarter. Argus Investors Counsel Inc. now owns 2,798 shares of the construction company’s stock valued at $1,604,000 after buying an additional 22 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insider Buying and Selling

In related news, CFO William E. Grace sold 775 shares of United Rentals stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $655.62, for a total value of $508,105.50. Following the transaction, the chief financial officer now owns 6,323 shares in the company, valued at approximately $4,145,485.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.49% of the company’s stock.

United Rentals Stock Down 1.6 %

URI stock opened at $655.97 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. United Rentals, Inc. has a 1 year low of $325.15 and a 1 year high of $732.37. The company has a fifty day simple moving average of $680.99 and a 200 day simple moving average of $568.14. The firm has a market cap of $44.06 billion, a PE ratio of 18.56, a PEG ratio of 2.34 and a beta of 1.84.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, January 24th. The construction company reported $11.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.85 by $0.41. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.63 billion. United Rentals had a net margin of 16.91% and a return on equity of 36.80%. United Rentals’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.74 EPS. Sell-side analysts anticipate that United Rentals, Inc. will post 43.05 EPS for the current fiscal year.

United Rentals declared that its board has initiated a stock repurchase program on Wednesday, January 24th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 3.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

United Rentals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Tuesday, February 13th. This is an increase from United Rentals’s previous quarterly dividend of $1.48. United Rentals’s dividend payout ratio (DPR) is 18.44%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on URI shares. Truist Financial started coverage on United Rentals in a report on Thursday, March 14th. They issued a “buy” rating and a $793.00 target price on the stock. Evercore ISI boosted their price target on shares of United Rentals from $575.00 to $740.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Barclays increased their price objective on United Rentals from $325.00 to $400.00 and gave the stock an “underweight” rating in a report on Friday, January 26th. Stifel Nicolaus boosted their target price on United Rentals from $494.00 to $591.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. Finally, Wells Fargo & Company upped their target price on United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $589.21.

United Rentals 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.