Marvin & Palmer Associates Inc. Has $2.91 Million Position in United Rentals, Inc. (NYSE:URI)

Marvin & Palmer Associates Inc. reduced its stake in shares of United Rentals, Inc. (NYSE:URI) by 49.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,133 shares of the construction company’s stock after selling 4,101 shares during the quarter. United Rentals makes up approximately 2.2% of Marvin & Palmer Associates Inc.’s portfolio, making the stock its 21st largest position. Marvin & Palmer Associates Inc.’s holdings in United Rentals were worth $2,911,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Rialto Wealth Management LLC acquired a new stake in shares of United Rentals during the fourth quarter worth approximately $25,000. ORG Wealth Partners LLC acquired a new stake in shares of United Rentals during the fourth quarter worth approximately $26,000. Hanson & Doremus Investment Management acquired a new stake in shares of United Rentals during the fourth quarter worth approximately $33,000. Kestra Investment Management LLC acquired a new stake in shares of United Rentals during the fourth quarter worth approximately $34,000. Finally, OFI Invest Asset Management acquired a new stake in United Rentals in the fourth quarter valued at approximately $36,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other United Rentals news, CFO William E. Grace sold 1,100 shares of United Rentals stock in a transaction on Monday, February 24th. The shares were sold at an average price of $638.10, for a total transaction of $701,910.00. Following the sale, the chief financial officer now owns 6,880 shares in the company, valued at $4,390,128. The trade was a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.53% of the company’s stock.

United Rentals Trading Up 0.4 %

Shares of URI stock opened at $628.63 on Monday. United Rentals, Inc. has a 1 year low of $585.27 and a 1 year high of $896.98. The firm’s fifty day simple moving average is $711.17 and its 200 day simple moving average is $765.19. The firm has a market capitalization of $41.05 billion, a P/E ratio of 16.22, a price-to-earnings-growth ratio of 1.43 and a beta of 1.76. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42.

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

United Rentals Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on URI shares. Truist Financial reiterated a “buy” rating and issued a $956.00 target price (down from $963.00) on shares of United Rentals in a research note on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on shares of United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Argus lifted their target price on shares of United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Citigroup dropped their price target on shares of United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Robert W. Baird raised shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price target on the stock in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, United Rentals currently has a consensus rating of “Moderate Buy” and an average price target of $829.00.

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.