United Rentals, Inc. (NYSE:URI) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in shares of United Rentals, Inc. (NYSE:URI) by 5.3% in the 4th quarter, Holdings Channel reports. The firm owned 12,317 shares of the construction company’s stock after selling 691 shares during the period. Allspring Global Investments Holdings LLC’s holdings in United Rentals were worth $8,497,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FMR LLC raised its holdings in shares of United Rentals by 3.7% during the third quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock valued at $1,956,768,000 after acquiring an additional 85,325 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of United Rentals by 82,462.2% during the third quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock worth $1,300,962,000 after purchasing an additional 1,604,715 shares in the last quarter. Geode Capital Management LLC raised its stake in 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 purchasing an additional 9,256 shares during the last quarter. Franklin Resources Inc. lifted its holdings in United Rentals by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock valued at $862,110,000 after purchasing an additional 57,002 shares in the last quarter. Finally, JPMorgan Chase & Co. grew 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 buying an additional 105,287 shares in the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Stock Performance

Shares of URI stock opened at $721.61 on Wednesday. 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 stock has a market capitalization of $47.13 billion, a PE ratio of 18.62, a price-to-earnings-growth ratio of 1.54 and a beta of 1.68. The stock’s 50-day moving average price is $737.38 and its 200 day moving average price is $770.38.

United Rentals (NYSE:URI) last announced 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 return on equity of 34.21% and a net margin of 16.78%. As a group, equities research analysts forecast that United Rentals, Inc. will post 44.93 EPS for the current year.

United Rentals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be given a $1.79 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 0.99%. This is a boost from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s dividend payout ratio (DPR) is currently 16.83%.

Analyst Upgrades and Downgrades

URI has been the topic of several recent analyst reports. Truist Financial reaffirmed a “buy” rating and issued a $956.00 price target (down previously from $963.00) on shares of United Rentals in a research note on Friday, January 31st. Morgan Stanley decreased their target price on 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. JPMorgan Chase & Co. increased their price objective on United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Robert W. Baird upgraded shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 target price for the company in a report on Tuesday, January 14th. Finally, Baird R W upgraded shares of United Rentals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, United Rentals has an average rating of “Moderate Buy” and an average price target of $814.08.

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.