EFG Asset Management North America Corp. Boosts Stock Position in United Rentals, Inc. (NYSE:URI)

EFG Asset Management North America Corp. boosted its position in shares of United Rentals, Inc. (NYSE:URI) by 10.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,249 shares of the construction company’s stock after acquiring an additional 411 shares during the quarter. EFG Asset Management North America Corp.’s holdings in United Rentals were worth $2,992,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of URI. GHP Investment Advisors Inc. grew its holdings in shares of United Rentals by 6.3% in the fourth quarter. GHP Investment Advisors Inc. now owns 14,855 shares of the construction company’s stock valued at $10,464,000 after purchasing an additional 877 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of United Rentals by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 445,214 shares of the construction company’s stock worth $313,627,000 after acquiring an additional 6,787 shares in the last quarter. Fiduciary Alliance LLC increased its position in shares of United Rentals by 196.5% during the fourth quarter. Fiduciary Alliance LLC now owns 1,420 shares of the construction company’s stock worth $1,000,000 after acquiring an additional 941 shares during the period. Blueshift Asset Management LLC acquired a new stake in shares of United Rentals in the fourth quarter valued at $649,000. Finally, Nordea Investment Management AB raised its stake in shares of United Rentals by 7.6% in the fourth quarter. Nordea Investment Management AB now owns 732,954 shares of the construction company’s stock valued at $517,018,000 after acquiring an additional 52,037 shares in the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other United Rentals news, CFO William E. Grace sold 1,100 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $4,390,128. This trade represents a 13.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Bank of America cut their price target on United Rentals from $850.00 to $750.00 and set a “buy” rating on the stock in a report on Friday. Morgan Stanley cut their target price on shares of United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Truist Financial reiterated a “buy” rating and issued a $956.00 price target (down previously from $963.00) on shares of United Rentals in a research note on Friday, January 31st. Robert W. Baird upgraded shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price target for the company 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 equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $815.67.

United Rentals Stock Performance

NYSE URI opened at $647.93 on Tuesday. The company has a fifty day moving average of $695.59 and a two-hundred day moving average of $756.81. The company has a market capitalization of $42.31 billion, a PE ratio of 16.72, a P/E/G ratio of 1.43 and a beta of 1.76. United Rentals, Inc. has a 1 year low of $585.27 and a 1 year high of $896.98. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, January 29th. The construction company reported $11.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. As a group, analysts expect that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a dividend of $1.79 per share. The ex-dividend date was Wednesday, February 12th. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. This represents a $7.16 dividend on an annualized basis and a dividend yield of 1.11%. United Rentals’s dividend payout ratio (DPR) is 18.48%.

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.