Clearbridge Investments LLC Has $9.53 Million Stake in United Rentals, Inc. (NYSE:URI)

Clearbridge Investments LLC lifted its stake in shares of United Rentals, Inc. (NYSE:URI) by 7.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,527 shares of the construction company’s stock after acquiring an additional 943 shares during the period. Clearbridge Investments LLC’s holdings in United Rentals were worth $9,529,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of United Rentals by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,566,802 shares of the construction company’s stock worth $1,264,326,000 after purchasing an additional 9,256 shares in the last quarter. Franklin Resources Inc. boosted its holdings in United Rentals by 6.1% in the third quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock worth $862,110,000 after acquiring an additional 57,002 shares in the last quarter. Norges Bank acquired a new stake in United Rentals in the fourth quarter valued at approximately $695,716,000. JPMorgan Chase & Co. increased 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 valued at $637,968,000 after acquiring an additional 105,287 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of United Rentals by 7.6% during the fourth quarter. Nordea Investment Management AB now owns 732,954 shares of the construction company’s stock worth $517,018,000 after purchasing an additional 52,037 shares during the period. 96.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

URI has been the subject of a number of recent research reports. Citigroup decreased their price target on shares of United Rentals from $985.00 to $835.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Sanford C. Bernstein upgraded shares of United Rentals from an “underperform” rating to a “market perform” rating and lowered their target price for the stock from $705.00 to $666.00 in a report on Tuesday, March 25th. Truist Financial reiterated a “buy” rating and set a $956.00 price target (down previously from $963.00) on shares of United Rentals in a research note on Friday, January 31st. Robert W. Baird raised United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price objective for the company in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lifted their target price on 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 analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, United Rentals has a consensus rating of “Moderate Buy” and a consensus price target of $804.15.

United Rentals Price Performance

URI opened at $647.27 on Thursday. The firm has a market cap of $42.29 billion, a P/E ratio of 16.70, a PEG ratio of 1.43 and a beta of 1.76. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.92 and a current ratio of 0.98. United Rentals, Inc. has a fifty-two week low of $585.27 and a fifty-two week high of $896.98. The firm has a 50-day moving average of $678.19 and a 200 day moving average of $753.23.

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

United Rentals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 1.11%. 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. United Rentals’s dividend payout ratio is currently 18.48%.

Insider Transactions at United Rentals

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 in the company, valued at $4,390,128. This trade represents a 13.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.53% of the stock is owned by corporate insiders.

United Rentals 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.