Geode Capital Management LLC Trims Position in United Rentals, Inc. $URI

Geode Capital Management LLC lessened its position in shares of United Rentals, Inc. (NYSE:URI) by 0.5% in the fourth quarter, Holdings Channel reports. The fund owned 1,637,960 shares of the construction company’s stock after selling 8,018 shares during the quarter. Geode Capital Management LLC’s holdings in United Rentals were worth $1,320,374,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of URI. Woodline Partners LP increased its position in United Rentals by 40.0% during the first quarter. Woodline Partners LP now owns 5,518 shares of the construction company’s stock valued at $3,458,000 after acquiring an additional 1,577 shares during the last quarter. Sei Investments Co. increased its position in United Rentals by 24.7% during the second quarter. Sei Investments Co. now owns 27,136 shares of the construction company’s stock valued at $20,444,000 after acquiring an additional 5,375 shares during the last quarter. Treasurer of the State of North Carolina increased its position in United Rentals by 43.6% during the second quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company’s stock valued at $42,233,000 after acquiring an additional 17,030 shares during the last quarter. HUB Investment Partners LLC increased its position in United Rentals by 11.3% during the second quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company’s stock valued at $1,661,000 after acquiring an additional 223 shares during the last quarter. Finally, Diversify Advisory Services LLC increased its position in United Rentals by 338.7% during the second quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company’s stock valued at $1,246,000 after acquiring an additional 1,277 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on URI shares. Weiss Ratings upgraded United Rentals from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Truist Financial set a $1,209.00 price target on United Rentals in a report on Friday, April 24th. JPMorgan Chase & Co. boosted their price target on United Rentals from $850.00 to $1,050.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Royal Bank Of Canada boosted their price target on United Rentals from $1,041.00 to $1,119.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Finally, Barclays boosted their price target on United Rentals from $600.00 to $715.00 and gave the company an “underweight” rating in a report on Friday, April 24th. Twelve investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, United Rentals presently has a consensus rating of “Moderate Buy” and an average price target of $1,006.13.

United Rentals Stock Performance

NYSE:URI opened at $987.36 on Friday. The stock has a 50-day simple moving average of $849.48 and a two-hundred day simple moving average of $844.62. United Rentals, Inc. has a 52-week low of $681.98 and a 52-week high of $1,021.47. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80. The firm has a market capitalization of $61.86 billion, a PE ratio of 25.19, a P/E/G ratio of 1.57 and a beta of 1.83.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.20 billion. United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The business’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the company earned $8.86 EPS. Analysts forecast that United Rentals, Inc. will post 47.07 EPS for the current year.

United Rentals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were paid a $1.97 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.8%. United Rentals’s dividend payout ratio is 20.10%.

Insiders Place Their Bets

In other news, SVP Joli L. Gross sold 306 shares of the company’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $954.99, for a total value of $292,226.94. Following the completion of the transaction, the senior vice president owned 5,738 shares of the company’s stock, valued at $5,479,732.62. This represents a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Craig Adam Pintoff sold 2,466 shares of the company’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $963.00, for a total value of $2,374,758.00. Following the completion of the transaction, the executive vice president directly owned 14,774 shares of the company’s stock, valued at approximately $14,227,362. This trade represents a 14.30% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 26,088 shares of company stock worth $25,628,877. 0.47% of the stock is currently owned by insiders.

United Rentals Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.