SLT Holdings LLC Takes $434,000 Position in United Rentals, Inc. (NYSE:URI)

SLT Holdings LLC acquired a new stake in United Rentals, Inc. (NYSE:URI) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 616 shares of the construction company’s stock, valued at approximately $434,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pettee Investors Inc. increased its position in shares of United Rentals by 0.7% during the fourth quarter. Pettee Investors Inc. now owns 5,662 shares of the construction company’s stock worth $3,989,000 after purchasing an additional 41 shares in the last quarter. AlphaQuest LLC increased its position in shares of United Rentals by 30.2% during the fourth quarter. AlphaQuest LLC now owns 1,159 shares of the construction company’s stock worth $816,000 after purchasing an additional 269 shares in the last quarter. Argentarii LLC purchased a new stake in shares of United Rentals during the fourth quarter worth approximately $753,000. OFI Invest Asset Management purchased a new stake in shares of United Rentals during the fourth quarter worth approximately $36,000. Finally, Amundi increased its position in shares of United Rentals by 20.8% during the fourth quarter. Amundi now owns 286,731 shares of the construction company’s stock worth $192,110,000 after purchasing an additional 49,421 shares in the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

United Rentals Stock Performance

NYSE URI opened at $628.63 on Friday. United Rentals, Inc. has a fifty-two week low of $585.27 and a fifty-two week high of $896.98. The stock has a market cap of $41.05 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 1.43 and a beta of 1.76. The business has a fifty day moving average of $711.17 and a 200-day moving average of $764.91. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42.

United Rentals (NYSE:URI) last posted its quarterly 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 predict 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 was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a $1.79 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $7.16 dividend on an annualized basis and a yield of 1.14%. This is an increase from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s dividend payout ratio is currently 18.48%.

Wall Street Analyst Weigh In

Several analysts recently commented on URI shares. Robert W. Baird upgraded United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price target for the company in a research report on Tuesday, January 14th. Morgan Stanley dropped their price target on United Rentals from $775.00 to $765.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Argus boosted their price objective on United Rentals from $840.00 to $880.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Truist Financial reissued 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, JPMorgan Chase & Co. boosted their price objective on United Rentals from $940.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $829.00.

Insider Activity at United Rentals

In other United Rentals news, CFO William E. Grace sold 1,100 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $638.10, for a total transaction of $701,910.00. Following the sale, the chief financial officer now owns 6,880 shares in the company, valued at $4,390,128. This represents a 13.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.53% of the stock is currently owned by company insiders.

About United Rentals

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.