Allspring Global Investments Holdings LLC Has $8.50 Million Position in United Rentals, Inc. (NYSE:URI)

Allspring Global Investments Holdings LLC lessened its position in United Rentals, Inc. (NYSE:URI) by 5.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 12,317 shares of the construction company’s stock after selling 691 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in United Rentals were worth $8,497,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in United Rentals by 11.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,203 shares of the construction company’s stock valued at $7,492,000 after purchasing an additional 964 shares during the period. GHP Investment Advisors Inc. boosted its position in shares of United Rentals by 6.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 14,855 shares of the construction company’s stock valued at $10,464,000 after purchasing an additional 877 shares in the last quarter. Retireful LLC acquired a new position in United Rentals during the 3rd quarter worth approximately $697,000. Mizuho Securities USA LLC raised its stake in United Rentals by 1,067.5% during the 3rd quarter. Mizuho Securities USA LLC now owns 59,879 shares of the construction company’s stock worth $48,486,000 after buying an additional 54,750 shares during the period. Finally, Fiduciary Alliance LLC increased its position in shares of United Rentals by 196.5% during the fourth quarter. Fiduciary Alliance LLC now owns 1,420 shares of the construction company’s stock valued at $1,000,000 after acquiring an additional 941 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

Analyst Ratings Changes

URI has been the subject of a number of analyst reports. Argus raised their price target on United Rentals from $840.00 to $880.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Robert W. Baird raised 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. Baird R W upgraded shares of United Rentals from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 14th. 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 report on Friday, January 31st. Finally, Barclays increased their price objective on shares of United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, United Rentals currently has an average rating of “Moderate Buy” and an average price target of $814.08.

United Rentals Stock Performance

Shares of URI stock opened at $721.61 on Wednesday. The company has a market cap of $47.13 billion, a P/E ratio of 18.62, a PEG ratio of 1.54 and a beta of 1.68. 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, Inc. has a 52 week low of $596.48 and a 52 week high of $896.98. The business has a 50 day moving average of $737.38 and a two-hundred day moving average of $770.38.

United Rentals (NYSE:URI) last posted its quarterly earnings results 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 return on equity of 34.21% and a net margin of 16.78%. As a group, analysts anticipate that United Rentals, Inc. will post 44.93 EPS for the current year.

United Rentals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Wednesday, February 12th. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s payout ratio is currently 16.83%.

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.