Covestor Ltd Has $59,000 Position in United Rentals, Inc. (NYSE:URI)

Covestor Ltd decreased its position in shares of United Rentals, Inc. (NYSE:URI) by 25.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 83 shares of the construction company’s stock after selling 29 shares during the period. Covestor Ltd’s holdings in United Rentals were worth $59,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of United Rentals by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 1,587,203 shares of the construction company’s stock valued at $1,115,142,000 after purchasing an additional 20,401 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of United Rentals by 16.0% during the 4th quarter. Alliancebernstein L.P. now owns 1,250,324 shares of the construction company’s stock worth $880,778,000 after buying an additional 172,340 shares during the last quarter. Franklin Resources Inc. boosted its stake in United Rentals by 9.8% in the fourth quarter. Franklin Resources Inc. now owns 1,093,350 shares of the construction company’s stock valued at $770,199,000 after buying an additional 97,336 shares in the last quarter. Norges Bank bought a new position in United Rentals in the fourth quarter valued at about $695,716,000. Finally, Invesco Ltd. raised its stake in United Rentals by 7.4% during the fourth quarter. Invesco Ltd. now owns 922,452 shares of the construction company’s stock worth $649,813,000 after acquiring an additional 63,657 shares in the last quarter. 96.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

URI has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of United Rentals from $1,000.00 to $750.00 and set an “overweight” rating on the stock in a research note on Monday. Truist Financial cut their target price on shares of United Rentals from $956.00 to $732.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley lowered their price target on shares of United Rentals from $775.00 to $765.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Citigroup cut their price objective on United Rentals from $720.00 to $650.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, Bank of America lowered their target price on United Rentals from $850.00 to $750.00 and set a “buy” rating for the company in a report on Friday, March 21st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $734.29.

United Rentals Price Performance

Shares of URI opened at $596.66 on Tuesday. The business has a 50-day moving average of $641.47 and a 200-day moving average of $738.65. 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 company has a market capitalization of $38.98 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 1.43 and a beta of 1.72. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year high of $896.98.

United Rentals (NYSE:URI) last released its quarterly earnings results 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%. As a group, equities research analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current 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 issued a $1.79 dividend. This is a positive change 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 yield of 1.20%. United Rentals’s payout ratio is presently 18.48%.

Insider Buying and Selling at United Rentals

In other news, CFO William E. Grace sold 1,100 shares of United Rentals stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $638.10, for a total value of $701,910.00. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.53% of the company’s stock.

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.