Taikang Asset Management Hong Kong Co Ltd Purchases Shares of 1,409 United Rentals, Inc. (NYSE:URI)

Taikang Asset Management Hong Kong Co Ltd acquired a new position in shares of United Rentals, Inc. (NYSE:URI) in the 4th quarter, HoldingsChannel reports. The firm acquired 1,409 shares of the construction company’s stock, valued at approximately $993,000.

Other hedge funds also recently modified their holdings of the company. Rialto Wealth Management LLC bought a new stake in United Rentals during the 4th quarter worth approximately $25,000. ORG Wealth Partners LLC acquired a new position in United Rentals in the fourth quarter worth $26,000. Hanson & Doremus Investment Management bought a new stake in shares of United Rentals during the fourth quarter worth $33,000. Kestra Investment Management LLC acquired a new stake in shares of United Rentals in the fourth quarter valued at $34,000. Finally, OFI Invest Asset Management bought a new position in shares of United Rentals in the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insider Activity at United Rentals

In other United Rentals news, CFO William E. Grace sold 1,100 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $638.10, for a total value of $701,910.00. Following the completion of the transaction, the chief financial officer now directly owns 6,880 shares of the company’s stock, valued at approximately $4,390,128. The trade was a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is owned by corporate insiders.

United Rentals Price Performance

Shares of URI opened at $647.93 on Tuesday. The stock has a market cap of $42.31 billion, a P/E ratio of 16.72, a price-to-earnings-growth ratio of 1.43 and a beta of 1.76. United Rentals, Inc. has a 1 year low of $585.27 and a 1 year high of $896.98. The stock’s 50-day moving average price is $695.59 and its two-hundred day moving average price is $756.81. 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 released its quarterly earnings data on Wednesday, January 29th. The construction company reported $11.59 earnings per share for the quarter, missing the consensus estimate of $11.65 by ($0.06). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. On average, equities analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a $1.79 dividend. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.16 annualized dividend and a dividend yield of 1.11%. United Rentals’s payout ratio is 18.48%.

Analyst Upgrades and Downgrades

URI has been the topic of a number of research analyst reports. Citigroup decreased their price objective on shares of United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Morgan Stanley decreased their price target on shares of United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Baird R W upgraded shares of United Rentals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 14th. Bank of America decreased their price objective on United Rentals from $850.00 to $750.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Truist Financial restated a “buy” rating and set a $956.00 target price (down previously from $963.00) on shares of United Rentals in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $815.67.

About United Rentals

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.