Parallel Advisors LLC Has $1.01 Million Stock Position in United Rentals, Inc. (NYSE:URI)

Parallel Advisors LLC increased its position in shares of United Rentals, Inc. (NYSE:URI) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,440 shares of the construction company’s stock after purchasing an additional 37 shares during the quarter. Parallel Advisors LLC’s holdings in United Rentals were worth $1,014,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. FMR LLC increased its position in United Rentals by 3.7% in the 3rd quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock valued at $1,956,768,000 after acquiring an additional 85,325 shares in the last quarter. Geode Capital Management LLC increased its position in United Rentals by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,566,802 shares of the construction company’s stock valued at $1,264,326,000 after acquiring an additional 9,256 shares in the last quarter. Franklin Resources Inc. increased its position in United Rentals by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock valued at $862,110,000 after acquiring an additional 57,002 shares in the last quarter. JPMorgan Chase & Co. increased its position in United Rentals by 15.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock valued at $637,968,000 after acquiring an additional 105,287 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in United Rentals by 7.6% in the 4th quarter. Nordea Investment Management AB now owns 732,954 shares of the construction company’s stock valued at $517,018,000 after acquiring an additional 52,037 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Stock Up 3.0 %

United Rentals stock opened at $627.42 on Thursday. The company’s 50 day simple moving average is $698.05 and its 200 day simple moving average is $758.05. United Rentals, Inc. has a fifty-two week low of $585.27 and a fifty-two week high of $896.98. The firm has a market capitalization of $40.97 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 1.43 and a beta of 1.76. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92.

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%. As a group, sell-side analysts anticipate 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. Shareholders of record on Wednesday, February 12th were issued a dividend of $1.79 per share. This is an increase from United Rentals’s previous quarterly dividend of $1.63. This represents a $7.16 annualized dividend and a yield of 1.14%. The ex-dividend date was Wednesday, February 12th. United Rentals’s dividend payout ratio (DPR) is 18.48%.

Analyst Ratings Changes

URI has been the subject of several research reports. Citigroup lowered their price objective on shares of United Rentals from $985.00 to $835.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Evercore ISI reduced their target price on shares of 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. Truist Financial reaffirmed 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. JPMorgan Chase & Co. raised 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. Finally, Robert W. Baird raised shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 target price on the stock in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, United Rentals currently has an average rating of “Moderate Buy” and a consensus target price of $829.00.

Insiders Place Their Bets

In other United Rentals news, CFO William E. Grace sold 1,100 shares of the firm’s stock in a transaction that occurred 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 directly 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 filing with the SEC, which is accessible through this link. Corporate insiders own 0.53% of the company’s stock.

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.