T. Rowe Price Investment Management Inc. Sells 112,640 Shares of United Rentals, Inc. (NYSE:URI)

T. Rowe Price Investment Management Inc. trimmed its holdings in shares of United Rentals, Inc. (NYSE:URI) by 19.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 472,150 shares of the construction company’s stock after selling 112,640 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 0.72% of United Rentals worth $332,602,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in URI. Capital World Investors raised its holdings in shares of United Rentals by 17.1% during the 4th quarter. Capital World Investors now owns 2,221,228 shares of the construction company’s stock worth $1,564,722,000 after buying an additional 323,636 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of United Rentals by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 1,587,203 shares of the construction company’s stock worth $1,115,142,000 after purchasing an additional 20,401 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of United Rentals by 16.0% in the 4th quarter. Alliancebernstein L.P. now owns 1,250,324 shares of the construction company’s stock valued at $880,778,000 after buying an additional 172,340 shares during the last quarter. Franklin Resources Inc. increased its position in United Rentals by 9.8% during the 4th quarter. Franklin Resources Inc. now owns 1,093,350 shares of the construction company’s stock valued at $770,199,000 after purchasing an additional 97,336 shares during the period. Finally, Capital International Investors increased its position in shares of United Rentals by 41.0% during the fourth quarter. Capital International Investors now owns 1,051,365 shares of the construction company’s stock worth $740,624,000 after buying an additional 305,491 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Price Performance

URI stock opened at $589.65 on Thursday. United Rentals, Inc. has a 12 month low of $525.91 and a 12 month high of $896.98. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $38.52 billion, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 1.43 and a beta of 1.72. The firm has a 50 day moving average of $619.53 and a 200-day moving average of $729.21.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, April 23rd. The construction company reported $8.86 earnings per share for the quarter, missing the consensus estimate of $8.92 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. The business had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.61 billion. As a group, sell-side analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th will be issued a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 1.21%. United Rentals’s payout ratio is currently 18.48%.

Insider Buying and Selling at United Rentals

In other news, CFO William E. Grace sold 1,100 shares of United Rentals 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 transaction, the chief financial officer now owns 6,880 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on URI. Citigroup lowered their target price on United Rentals from $720.00 to $650.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Baird R W raised shares of United Rentals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 14th. UBS Group downgraded shares of United Rentals from a “buy” rating to a “sell” rating and cut their price objective for the stock from $910.00 to $485.00 in a report on Monday, April 7th. Truist Financial reduced their target price on United Rentals from $956.00 to $732.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of United Rentals from $1,000.00 to $750.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $729.79.

United Rentals Company 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.