Congress Asset Management Co. Sells 670 Shares of United Rentals, Inc. (NYSE:URI)

Congress Asset Management Co. reduced its stake in United Rentals, Inc. (NYSE:URI) by 14.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,058 shares of the construction company’s stock after selling 670 shares during the quarter. Congress Asset Management Co.’s holdings in United Rentals were worth $2,859,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC lifted its stake in United Rentals by 82,462.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock valued at $1,300,962,000 after acquiring an additional 1,604,715 shares during the period. JPMorgan Chase & Co. lifted its position in United Rentals by 15.4% during the third quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock valued at $637,968,000 after purchasing an additional 105,287 shares during the period. FMR LLC boosted its holdings in United Rentals by 3.7% in the third quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock worth $1,956,768,000 after purchasing an additional 85,325 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in United Rentals by 10.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 704,145 shares of the construction company’s stock worth $570,167,000 after purchasing an additional 66,957 shares during the period. Finally, Franklin Resources Inc. raised its stake in United Rentals by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock valued at $862,110,000 after buying an additional 57,002 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on URI shares. 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 note on Tuesday, January 14th. Argus lifted their target price on United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Robert W. Baird upgraded United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price target for the company in a research report on Tuesday, January 14th. Morgan Stanley lowered their price objective on United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Finally, Truist Financial reissued a “buy” rating and issued a $956.00 target price (down from $963.00) on shares of United Rentals in a report 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’s stock. According to data from MarketBeat, United Rentals has a consensus rating of “Moderate Buy” and a consensus price target of $814.08.

United Rentals Stock Up 1.6 %

Shares of NYSE URI opened at $741.10 on Tuesday. 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, Inc. has a 12-month low of $596.48 and a 12-month high of $896.98. The firm’s 50-day moving average price is $738.87 and its 200-day moving average price is $770.03. The stock has a market capitalization of $48.40 billion, a price-to-earnings ratio of 19.13, a P/E/G ratio of 1.54 and a beta of 1.68.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, January 29th. The construction company reported $11.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. On average, equities research analysts anticipate that United Rentals, Inc. will post 44.93 EPS for the current fiscal year.

United Rentals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be paid a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 0.97%. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. The ex-dividend date is Wednesday, February 12th. United Rentals’s payout ratio is presently 16.83%.

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.