Asset Allocation & Management Company LLC Acquires New Stake in United Rentals, Inc. (NYSE:URI)

Asset Allocation & Management Company LLC acquired a new stake in shares of United Rentals, Inc. (NYSE:URI) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 674 shares of the construction company’s stock, valued at approximately $475,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its stake in United Rentals by 82,462.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock valued at $1,300,962,000 after purchasing an additional 1,604,715 shares during the last quarter. Marshall Wace LLP boosted its stake in United Rentals by 259.3% during the 2nd quarter. Marshall Wace LLP now owns 150,152 shares of the construction company’s stock valued at $97,108,000 after purchasing an additional 108,360 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in United Rentals by 15.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock valued at $637,968,000 after purchasing an additional 105,287 shares during the last quarter. FMR LLC boosted its stake in United Rentals by 3.7% during the 3rd quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock valued at $1,956,768,000 after purchasing an additional 85,325 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in United Rentals by 10.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 704,145 shares of the construction company’s stock valued at $570,167,000 after purchasing an additional 66,957 shares during the last quarter. Institutional investors own 96.26% of the company’s stock.

Insider Buying and Selling

In related news, SVP Anthony S. Leopold sold 900 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $823.24, for a total transaction of $740,916.00. Following the completion of the transaction, the senior vice president now directly owns 2,044 shares of the company’s stock, valued at approximately $1,682,702.56. This represents a 30.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.53% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

URI has been the topic of several recent analyst reports. Robert W. Baird increased their target price on United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. raised their price target on United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Barclays raised their price target on United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Truist Financial raised their price target on United Rentals from $955.00 to $965.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Bank of America raised their price target on United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $817.08.

United Rentals Stock Performance

NYSE URI traded down $3.21 on Monday, hitting $667.73. 202,269 shares of the company traded hands, compared to its average volume of 604,690. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38. The business’s 50 day moving average price is $789.04 and its 200-day moving average price is $758.98. The company has a market capitalization of $43.82 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 1.83 and a beta of 1.69. United Rentals, Inc. has a 52-week low of $545.16 and a 52-week high of $896.98.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.49 by ($0.69). United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the prior year, the business posted $11.73 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts expect that United Rentals, Inc. will post 43.46 earnings per share for the current year.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Wednesday, November 13th. United Rentals’s dividend payout ratio is currently 17.03%.

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.