JPMorgan Chase & Co. Cuts Stake in United Rentals, Inc. (NYSE:URI)

JPMorgan Chase & Co. trimmed its stake in United Rentals, Inc. (NYSE:URI) by 29.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 552,226 shares of the construction company’s stock after selling 235,651 shares during the quarter. JPMorgan Chase & Co.’s holdings in United Rentals were worth $389,010,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Townsquare Capital LLC raised its position in shares of United Rentals by 17.7% in the 3rd quarter. Townsquare Capital LLC now owns 2,383 shares of the construction company’s stock worth $1,930,000 after buying an additional 359 shares during the period. Glenmede Trust Co. NA raised its holdings in shares of United Rentals by 4.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 3,914 shares of the construction company’s stock worth $3,169,000 after purchasing an additional 164 shares during the period. Fiduciary Trust Co lifted its stake in shares of United Rentals by 11.7% in the 3rd quarter. Fiduciary Trust Co now owns 1,207 shares of the construction company’s stock valued at $977,000 after purchasing an additional 126 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in shares of United Rentals by 15.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 2,925 shares of the construction company’s stock worth $2,368,000 after purchasing an additional 400 shares during the period. Finally, Isthmus Partners LLC purchased a new stake in shares of United Rentals during the 3rd quarter worth about $340,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on URI. Bank of America reduced their price target on shares of 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. upped their price target on shares of United Rentals from $940.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Evercore ISI cut their price objective on United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Truist Financial reaffirmed a “buy” rating and issued a $956.00 target price (down previously from $963.00) on shares of United Rentals in a research report on Friday, January 31st. Finally, Morgan Stanley dropped their target price 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $804.15.

United Rentals Stock Performance

United Rentals stock opened at $627.10 on Friday. United Rentals, Inc. has a 52 week low of $585.27 and a 52 week high of $896.98. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42. The stock has a market cap of $40.97 billion, a P/E ratio of 16.18, a price-to-earnings-growth ratio of 1.43 and a beta of 1.76. The stock has a 50 day moving average of $686.97 and a 200-day moving average of $754.94.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, January 29th. The construction company reported $11.59 EPS for the quarter, missing analysts’ consensus estimates 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 expect that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a $1.79 dividend. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. This represents a $7.16 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Wednesday, February 12th. United Rentals’s payout ratio is currently 18.48%.

Insider Buying and Selling at United Rentals

In other news, CFO William E. Grace sold 1,100 shares of the business’s stock in a transaction that occurred on 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 approximately $4,390,128. The trade was a 13.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by 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.