Fisher Funds Management LTD Purchases Shares of 20,598 United Rentals, Inc. (NYSE:URI)

Fisher Funds Management LTD acquired a new position in United Rentals, Inc. (NYSE:URI) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 20,598 shares of the construction company’s stock, valued at approximately $14,481,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of URI. FMR LLC increased its holdings in United Rentals by 3.7% in the 3rd quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock worth $1,956,768,000 after buying an additional 85,325 shares during the period. Geode Capital Management LLC boosted its holdings in shares of United Rentals by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,566,802 shares of the construction company’s stock valued at $1,264,326,000 after acquiring an additional 9,256 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of United Rentals by 6.1% in the third quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock worth $862,110,000 after acquiring an additional 57,002 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of United Rentals by 15.4% during the third quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock worth $637,968,000 after purchasing an additional 105,287 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in United Rentals by 7.6% during the fourth quarter. Nordea Investment Management AB now owns 732,954 shares of the construction company’s stock valued at $517,018,000 after purchasing an additional 52,037 shares during the period. Institutional investors and hedge funds own 96.26% of the company’s stock.

Wall Street Analyst Weigh In

URI has been the topic of several analyst reports. Argus increased their price target on United Rentals from $840.00 to $880.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. lifted their price target on United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Robert W. Baird upgraded United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price objective on the stock in a research report on Tuesday, January 14th. Truist Financial reaffirmed a “buy” rating and set a $956.00 price objective (down previously from $963.00) on shares of United Rentals in a research note on Friday, January 31st. Finally, Evercore ISI decreased their target price on shares of United Rentals from $1,004.00 to $974.00 and set an “outperform” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, United Rentals presently has a consensus rating of “Moderate Buy” and a consensus target price of $829.00.

United Rentals Price Performance

NYSE:URI opened at $656.42 on Friday. The stock has a 50 day moving average of $731.32 and a two-hundred day moving average of $769.95. United Rentals, Inc. has a 12 month low of $596.48 and a 12 month high of $896.98. The firm has a market cap of $42.87 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 1.43 and a beta of 1.68. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42.

United Rentals (NYSE:URI) last announced 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 net margin of 16.78% and a return on equity of 34.21%. On average, analysts expect that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be given a dividend of $1.79 per share. The ex-dividend date is 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 yield of 1.09%. 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.