243,786 Shares in United Rentals, Inc. (NYSE:URI) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new position in shares of United Rentals, Inc. (NYSE:URI) in the fourth quarter, HoldingsChannel reports. The fund acquired 243,786 shares of the construction company’s stock, valued at approximately $171,733,000.

Other institutional investors have also made changes to their positions in the company. GHP Investment Advisors Inc. grew its stake in United Rentals by 6.3% in the fourth quarter. GHP Investment Advisors Inc. now owns 14,855 shares of the construction company’s stock valued at $10,464,000 after acquiring an additional 877 shares during the period. Retireful LLC acquired a new position in United Rentals in the third quarter valued at about $697,000. Mizuho Securities USA LLC grew its stake in United Rentals by 1,067.5% in the third quarter. Mizuho Securities USA LLC now owns 59,879 shares of the construction company’s stock valued at $48,486,000 after acquiring an additional 54,750 shares during the period. Fiduciary Alliance LLC grew its stake in United Rentals by 196.5% in 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 period. Finally, Nordea Investment Management AB grew its stake in 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 acquiring an additional 52,037 shares during the period. 96.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on URI shares. Evercore ISI cut their price target on United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Morgan Stanley cut their price target on United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Truist Financial restated a “buy” rating and issued a $956.00 price target (down from $963.00) on shares of United Rentals in a report on Friday, January 31st. JPMorgan Chase & Co. boosted their price target on United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Argus boosted their price target on United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $829.00.

Insider Activity

In related news, CFO William E. Grace sold 1,100 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $638.10, for a total transaction of $701,910.00. Following the sale, the chief financial officer now owns 6,880 shares of the company’s stock, valued at $4,390,128. This represents a 13.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.49% of the stock is owned by company insiders.

United Rentals Price Performance

NYSE:URI opened at $642.29 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. The stock’s 50 day moving average price is $724.58 and its two-hundred day moving average price is $769.00. The firm has a market capitalization of $41.95 billion, a price-to-earnings ratio of 16.58, a P/E/G ratio of 1.43 and a beta of 1.68. United Rentals, Inc. has a 12-month low of $596.48 and a 12-month high of $896.98.

United Rentals (NYSE:URI) last released its quarterly earnings data 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 net margin of 16.78% and a return on equity of 34.21%. On average, analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a $1.79 dividend. This is an increase from United Rentals’s previous quarterly dividend of $1.63. The ex-dividend date was Wednesday, February 12th. This represents a $7.16 annualized dividend and a dividend yield of 1.11%. United Rentals’s dividend payout ratio is presently 18.48%.

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.