Clearbridge Investments LLC Raises Stock Position in United Rentals, Inc. (NYSE:URI)

Clearbridge Investments LLC raised its position in United Rentals, Inc. (NYSE:URI) by 0.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,241 shares of the construction company’s stock after acquiring an additional 40 shares during the period. Clearbridge Investments LLC’s holdings in United Rentals were worth $5,943,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of URI. Capital Research Global Investors lifted its stake in shares of United Rentals by 39.1% during the fourth quarter. Capital Research Global Investors now owns 6,399,808 shares of the construction company’s stock worth $3,669,806,000 after buying an additional 1,799,997 shares during the period. Norges Bank purchased a new position in shares of United Rentals during the fourth quarter worth $977,443,000. International Assets Investment Management LLC raised its holdings in shares of United Rentals by 58,829.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,043,051 shares of the construction company’s stock worth $598,106,000 after purchasing an additional 1,041,281 shares during the last quarter. Heritage Wealth Advisors raised its holdings in shares of United Rentals by 15,100.8% during the first quarter. Heritage Wealth Advisors now owns 100,781 shares of the construction company’s stock worth $72,674,000 after purchasing an additional 100,118 shares during the last quarter. Finally, AMF Tjanstepension AB raised its holdings in shares of United Rentals by 59.9% during the first quarter. AMF Tjanstepension AB now owns 257,246 shares of the construction company’s stock worth $185,539,000 after purchasing an additional 96,323 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at United Rentals

In other United Rentals news, CEO Matthew John Flannery sold 8,379 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total transaction of $5,862,199.77. Following the completion of the sale, the chief executive officer now directly owns 103,400 shares of the company’s stock, valued at $72,341,742. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Michael D. Durand sold 559 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $674.56, for a total value of $377,079.04. Following the transaction, the chief operating officer now owns 8,052 shares in the company, valued at $5,431,557.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew John Flannery sold 8,379 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total value of $5,862,199.77. Following the completion of the transaction, the chief executive officer now owns 103,400 shares in the company, valued at approximately $72,341,742. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

United Rentals Stock Performance

Shares of United Rentals stock traded up $0.86 during trading on Thursday, hitting $716.68. 95,425 shares of the stock were exchanged, compared to its average volume of 576,183. The stock’s fifty day moving average is $662.04 and its 200 day moving average is $659.91. The stock has a market cap of $47.72 billion, a PE ratio of 19.39, a P/E/G ratio of 2.44 and a beta of 1.71. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.83 and a current ratio of 0.89. United Rentals, Inc. has a 12 month low of $387.01 and a 12 month high of $759.98.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, July 24th. The construction company reported $10.70 EPS for the quarter, topping the consensus estimate of $10.48 by $0.22. The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.77 billion. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.88 earnings per share. As a group, sell-side analysts anticipate that United Rentals, Inc. will post 43.89 EPS for the current year.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.91%. United Rentals’s dividend payout ratio is presently 17.66%.

Analysts Set New Price Targets

A number of research analysts have weighed in on URI shares. Truist Financial cut their price objective on shares of United Rentals from $796.00 to $785.00 and set a “buy” rating for the company in a report on Tuesday, July 2nd. Oppenheimer reissued a “market perform” rating on shares of United Rentals in a research note on Monday, April 29th. Citigroup initiated coverage on shares of United Rentals in a research report on Wednesday, June 26th. They issued a “buy” rating and a $745.00 price objective on the stock. Raymond James assumed coverage on shares of United Rentals in a report on Friday, June 28th. They issued an “outperform” rating and a $750.00 target price for the company. Finally, Stifel Nicolaus increased their price target on shares of United Rentals from $720.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $637.67.

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.