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

EFG Asset Management North America Corp. increased its holdings in United Rentals, Inc. (NYSE:URI) by 10.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,249 shares of the construction company’s stock after purchasing 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 reporting period.

A number of other hedge funds also recently bought and sold shares of URI. Rialto Wealth Management LLC purchased a new position in shares of United Rentals during the 4th quarter valued at approximately $25,000. ORG Wealth Partners LLC acquired a new position in United Rentals during the fourth quarter worth $26,000. Hanson & Doremus Investment Management purchased a new position in United Rentals during the fourth quarter valued at $33,000. Kestra Investment Management LLC acquired a new stake in shares of United Rentals in the fourth quarter valued at about $34,000. Finally, OFI Invest Asset Management purchased a new stake in shares of United Rentals during the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Price Performance

Shares of URI stock opened at $647.93 on Tuesday. The firm’s 50-day moving average is $695.59 and its two-hundred day moving average is $756.81. United Rentals, Inc. has a 12 month low of $585.27 and a 12 month 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. The company has a market capitalization of $42.31 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 1.43 and a beta of 1.76.

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

United Rentals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a dividend of $1.79 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This is a boost 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 is currently 18.48%.

Wall Street Analysts Forecast Growth

URI has been the topic of several research analyst reports. Evercore ISI lowered their price objective on United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Robert W. Baird raised United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price target on the stock in a research note on Tuesday, January 14th. Truist Financial reissued a “buy” rating and issued a $956.00 price objective (down from $963.00) on shares of United Rentals in a research note on Friday, January 31st. Morgan Stanley lowered 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. Finally, JPMorgan Chase & Co. increased their target price on shares of United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $815.67.

Insider Buying and Selling

In other United Rentals news, CFO William E. Grace sold 1,100 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $638.10, for a total transaction of $701,910.00. Following the completion of the transaction, the chief financial officer now owns 6,880 shares of the company’s stock, valued at $4,390,128. This trade 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 the SEC website. Corporate insiders own 0.53% of the company’s stock.

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.