Huntington National Bank Acquires 31 Shares of United Rentals, Inc. (NYSE:URI)

Huntington National Bank raised its holdings in United Rentals, Inc. (NYSE:URI) by 8.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 385 shares of the construction company’s stock after buying an additional 31 shares during the period. Huntington National Bank’s holdings in United Rentals were worth $271,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Rialto Wealth Management LLC bought a new position in United Rentals in the 4th quarter valued at about $25,000. ORG Wealth Partners LLC bought a new position in shares of United Rentals in the fourth quarter valued at approximately $26,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of United Rentals during the fourth quarter valued at approximately $27,000. Meeder Asset Management Inc. grew its holdings in United Rentals by 241.7% during the fourth quarter. Meeder Asset Management Inc. now owns 41 shares of the construction company’s stock worth $29,000 after buying an additional 29 shares in the last quarter. Finally, Hanson & Doremus Investment Management purchased a new stake in United Rentals in the 4th quarter valued at $33,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at United Rentals

In other news, CFO William E. Grace sold 1,100 shares of United Rentals stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $638.10, for a total transaction of $701,910.00. Following the completion of the sale, the chief financial officer now owns 6,880 shares in the company, valued at approximately $4,390,128. This trade represents a 13.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.53% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

URI has been the subject of several recent analyst reports. Truist Financial reiterated a “buy” rating and issued a $956.00 target price (down previously from $963.00) on shares of United Rentals in a research note on Friday, January 31st. Sanford C. Bernstein upgraded shares of United Rentals from an “underperform” rating to a “market perform” rating and decreased their price objective for the company from $705.00 to $666.00 in a research note on Tuesday, March 25th. Baird R W upgraded United Rentals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 14th. Morgan Stanley decreased their price target on United Rentals from $775.00 to $765.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on United Rentals from $940.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $804.15.

United Rentals Price Performance

Shares of NYSE:URI opened at $564.56 on Friday. The company has a 50-day moving average price of $669.75 and a two-hundred day moving average price of $750.73. The firm has a market capitalization of $36.88 billion, a PE ratio of 14.57, a P/E/G ratio of 1.43 and a beta of 1.72. United Rentals, Inc. has a twelve month low of $544.32 and a twelve month high of $896.98. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42.

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

United Rentals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date was Wednesday, February 12th. This is an increase from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s dividend payout ratio (DPR) is 18.48%.

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.