Colonial River Investments LLC Invests $205,000 in United Rentals, Inc. (NYSE:URI)

Colonial River Investments LLC purchased a new position in United Rentals, Inc. (NYSE:URI) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 291 shares of the construction company’s stock, valued at approximately $205,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. FMR LLC lifted its holdings in United Rentals by 3.7% during the third quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock worth $1,956,768,000 after acquiring an additional 85,325 shares in the last quarter. Geode Capital Management LLC lifted its holdings in United Rentals by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,566,802 shares of the construction company’s stock worth $1,264,326,000 after acquiring an additional 9,256 shares in the last quarter. Franklin Resources Inc. lifted its holdings in United Rentals by 6.1% during the third quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock worth $862,110,000 after acquiring an additional 57,002 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in United Rentals by 15.4% during the third quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock worth $637,968,000 after acquiring an additional 105,287 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in United Rentals by 7.6% during the fourth quarter. Nordea Investment Management AB now owns 732,954 shares of the construction company’s stock worth $517,018,000 after acquiring an additional 52,037 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

URI has been the topic of several recent analyst reports. Argus lifted their target price on United Rentals from $840.00 to $880.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Truist Financial reiterated a “buy” rating and set a $956.00 target price (down from $963.00) on shares of United Rentals in a report on Friday, January 31st. Citigroup dropped their price target on United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Evercore ISI dropped their price target on United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. lifted their price target on United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, United Rentals currently has an average rating of “Moderate Buy” and a consensus price target of $829.00.

United Rentals Price Performance

NYSE:URI opened at $629.17 on Tuesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.92 and a current ratio of 0.98. The stock’s 50-day simple moving average is $728.61 and its 200 day simple moving average is $770.29. The company has a market cap of $41.09 billion, a P/E ratio of 16.24, a P/E/G ratio of 1.43 and a beta of 1.68. United Rentals, Inc. has a 52-week low of $596.48 and a 52-week high of $896.98.

United Rentals (NYSE:URI) last released 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 net margin of 16.78% and a return on equity of 34.21%. As a group, sell-side analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be given a $1.79 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 1.14%. This is an increase from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s payout ratio is currently 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.