TIAA Trust National Association Increases Holdings in United Rentals, Inc. (NYSE:URI)

TIAA Trust National Association grew its holdings in United Rentals, Inc. (NYSE:URI) by 596.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 12,367 shares of the construction company’s stock after acquiring an additional 10,591 shares during the quarter. TIAA Trust National Association’s holdings in United Rentals were worth $8,712,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Rialto Wealth Management LLC purchased a new position in United Rentals in the fourth quarter valued at approximately $25,000. ORG Wealth Partners LLC acquired a new position in shares of United Rentals in the 4th quarter valued at $26,000. Hanson & Doremus Investment Management purchased a new position in shares of United Rentals in the 4th quarter valued at $33,000. Kestra Investment Management LLC acquired a new stake in United Rentals during the 4th quarter worth $34,000. Finally, OFI Invest Asset Management acquired a new stake in United Rentals during the 4th quarter worth $36,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on URI shares. Evercore ISI decreased their price objective on shares of United Rentals from $1,004.00 to $974.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Truist Financial reissued a “buy” rating and issued a $956.00 target price (down from $963.00) on shares of United Rentals in a research report on Friday, January 31st. Bank of America cut their price target on United Rentals from $850.00 to $750.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. JPMorgan Chase & Co. increased their price objective 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, Sanford C. Bernstein raised shares of United Rentals from an “underperform” rating to a “market perform” rating and cut their target price for the company from $705.00 to $666.00 in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, United Rentals presently has an average rating of “Moderate Buy” and an average target price of $804.15.

United Rentals Trading Up 1.0 %

NYSE URI opened at $653.71 on Wednesday. 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 has a market capitalization of $42.69 billion, a P/E ratio of 16.87, a P/E/G ratio of 1.43 and a beta of 1.76. United Rentals, Inc. has a 52-week low of $585.27 and a 52-week high of $896.98. The firm has a 50-day moving average price of $694.07 and a 200 day moving average price of $756.62.

United Rentals (NYSE:URI) last issued its 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 expect 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. Stockholders of record on Wednesday, February 12th were paid a dividend of $1.79 per share. 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 dividend on an annualized basis and a dividend yield of 1.10%. United Rentals’s dividend payout ratio is 18.48%.

Insider Activity

In related news, CFO William E. Grace sold 1,100 shares of the business’s 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 sale, the chief financial officer now owns 6,880 shares of the company’s stock, valued at approximately $4,390,128. The trade was a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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.