Royal London Asset Management Ltd. Has $61.93 Million Holdings in United Rentals, Inc. (NYSE:URI)

Royal London Asset Management Ltd. grew its holdings in shares of United Rentals, Inc. (NYSE:URI) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 87,911 shares of the construction company’s stock after acquiring an additional 1,438 shares during the quarter. Royal London Asset Management Ltd.’s holdings in United Rentals were worth $61,928,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in URI. FMR LLC increased its position in United Rentals by 3.7% during the 3rd quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock worth $1,956,768,000 after purchasing an additional 85,325 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of United Rentals by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,566,802 shares of the construction company’s stock worth $1,264,326,000 after buying an additional 9,256 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of United Rentals by 6.1% during the third quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock worth $862,110,000 after buying an additional 57,002 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of United Rentals by 15.4% in the 3rd 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 during the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of United Rentals by 7.6% in the 4th 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 last quarter. Institutional investors own 96.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Morgan Stanley lowered their target price on 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 reiterated a “buy” rating and issued a $956.00 price objective (down previously from $963.00) on shares of United Rentals in a report on Friday, January 31st. Robert W. Baird raised shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 target price on the stock in a report on Tuesday, January 14th. 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 report on Tuesday, January 14th. Finally, Evercore ISI cut their price target on shares of United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $829.00.

United Rentals Stock Up 0.7 %

Shares of United Rentals stock opened at $631.14 on Friday. The stock’s 50-day moving average is $697.25 and its 200 day moving average is $757.17. United Rentals, Inc. has a one year low of $585.27 and a one year high of $896.98. The firm has a market cap of $41.22 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 1.43 and a beta of 1.76. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92.

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

United Rentals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 1.13%. This is a boost from United Rentals’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Wednesday, February 12th. United Rentals’s dividend payout ratio (DPR) is presently 18.48%.

Insider Activity

In other news, CFO William E. Grace sold 1,100 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $638.10, for a total value of $701,910.00. Following the completion of the sale, the chief financial officer now directly owns 6,880 shares in the company, valued at $4,390,128. This trade represents a 13.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.53% of the company’s stock.

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.