Geode Capital Management LLC Has $1.26 Billion Stock Holdings in United Rentals, Inc. (NYSE:URI)

Geode Capital Management LLC increased its stake in shares of United Rentals, Inc. (NYSE:URI) by 0.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,566,802 shares of the construction company’s stock after buying an additional 9,256 shares during the period. Geode Capital Management LLC’s holdings in United Rentals were worth $1,264,326,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in URI. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of United Rentals by 11.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,203 shares of the construction company’s stock valued at $7,492,000 after buying an additional 964 shares during the period. Essex Financial Services Inc. increased its position in United Rentals by 31.9% in the second quarter. Essex Financial Services Inc. now owns 563 shares of the construction company’s stock worth $364,000 after purchasing an additional 136 shares during the period. Retireful LLC bought a new stake in United Rentals during the 3rd quarter worth about $697,000. Mizuho Securities USA LLC lifted its position in United Rentals by 1,067.5% during the 3rd quarter. Mizuho Securities USA LLC now owns 59,879 shares of the construction company’s stock valued at $48,486,000 after purchasing an additional 54,750 shares during the period. Finally, Waverton Investment Management Ltd grew its position in shares of United Rentals by 1.2% during the 3rd quarter. Waverton Investment Management Ltd now owns 210,588 shares of the construction company’s stock worth $170,392,000 after buying an additional 2,497 shares during the period. Institutional investors own 96.26% of the company’s stock.

Insider Buying and Selling

In other news, SVP Anthony S. Leopold sold 900 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $823.24, for a total transaction of $740,916.00. Following the completion of the transaction, the senior vice president now directly owns 2,044 shares in the company, valued at $1,682,702.56. This represents a 30.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.53% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on URI. JPMorgan Chase & Co. increased their price objective on shares of United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Citigroup raised their price target on United Rentals from $955.00 to $985.00 and gave the stock a “buy” rating in a research report on Monday. Robert W. Baird upped their price objective on United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a report on Thursday, October 3rd. Bank of America increased their target price on United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Evercore ISI boosted their target price on United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, United Rentals presently has a consensus rating of “Hold” and a consensus price target of $770.00.

United Rentals Stock Performance

Shares of URI opened at $796.23 on Wednesday. The firm has a market cap of $52.25 billion, a P/E ratio of 20.79, a PEG ratio of 2.01 and a beta of 1.66. United Rentals, Inc. has a twelve month low of $491.60 and a twelve month high of $896.98. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.77 and a current ratio of 0.82. The firm’s 50 day moving average price is $834.54 and its two-hundred day moving average price is $746.30.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing the consensus estimate of $12.49 by ($0.69). The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.01 billion. United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $11.73 earnings per share. On average, analysts forecast that United Rentals, Inc. will post 43.46 EPS for the current fiscal year.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given a dividend of $1.63 per share. The ex-dividend date was Wednesday, November 13th. This represents a $6.52 annualized dividend and a dividend yield of 0.82%. United Rentals’s dividend payout ratio is currently 17.03%.

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.