OFI Invest Asset Management Invests $36,000 in United Rentals, Inc. (NYSE:URI)

OFI Invest Asset Management bought a new position in United Rentals, Inc. (NYSE:URI) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 53 shares of the construction company’s stock, valued at approximately $36,000.

Several other hedge funds also recently made changes to their positions in URI. FMR LLC lifted its stake in shares of United Rentals by 3.7% in the third 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 period. Geode Capital Management LLC lifted its stake in shares of United Rentals by 0.6% in the third 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 period. Franklin Resources Inc. lifted its stake in shares of United Rentals by 6.1% in the third 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 during the period. JPMorgan Chase & Co. lifted its stake in shares of United Rentals by 15.4% in the third 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 period. Finally, Nordea Investment Management AB lifted its stake in shares of United Rentals by 7.6% in the fourth quarter. Nordea Investment Management AB now owns 732,954 shares of the construction company’s stock valued at $517,018,000 after purchasing an additional 52,037 shares during the period. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Stock Performance

Shares of NYSE URI opened at $600.34 on Tuesday. The company has a market cap of $39.21 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 1.43 and a beta of 1.76. 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 50-day simple moving average of $709.06 and a 200-day simple moving average of $764.37.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, January 29th. The construction company reported $11.59 EPS 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%. On average, equities analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a $1.79 dividend. 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 annualized dividend and a dividend yield of 1.19%. United Rentals’s dividend payout ratio (DPR) is currently 18.48%.

Insider Buying and Selling

In related news, CFO William E. Grace sold 1,100 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $638.10, for a total value of $701,910.00. Following the sale, the chief financial officer now directly owns 6,880 shares of the company’s stock, valued at approximately $4,390,128. This trade represents a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on URI. Argus raised their price objective on shares of United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Morgan Stanley dropped their target price on shares of United Rentals from $775.00 to $765.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Truist Financial restated a “buy” rating and set a $956.00 target price (down from $963.00) on shares of United Rentals in a report on Friday, January 31st. Evercore ISI dropped their target price on shares of United Rentals from $1,004.00 to $974.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Finally, Baird R W upgraded shares of United Rentals from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, United Rentals presently has an average rating of “Moderate Buy” and an average target price of $829.00.

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.