Legacy Trust Cuts Holdings in United Rentals, Inc. (NYSE:URI)

Legacy Trust cut its position in shares of United Rentals, Inc. (NYSE:URI) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,821 shares of the construction company’s stock after selling 177 shares during the quarter. United Rentals accounts for about 3.1% of Legacy Trust’s portfolio, making the stock its 4th biggest holding. Legacy Trust’s holdings in United Rentals were worth $13,258,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of URI. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of United Rentals by 11.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,203 shares of the construction company’s stock worth $7,492,000 after buying an additional 964 shares during the last quarter. Retireful LLC bought a new stake in United Rentals during the third quarter worth about $697,000. Mizuho Securities USA LLC raised its holdings in United Rentals by 1,067.5% during the third quarter. Mizuho Securities USA LLC now owns 59,879 shares of the construction company’s stock worth $48,486,000 after acquiring an additional 54,750 shares in the last quarter. Fiduciary Alliance LLC boosted its position in United Rentals by 196.5% during the fourth quarter. Fiduciary Alliance LLC now owns 1,420 shares of the construction company’s stock valued at $1,000,000 after purchasing an additional 941 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in United Rentals by 7.6% in the fourth quarter. Nordea Investment Management AB now owns 732,954 shares of the construction company’s stock valued at $517,018,000 after purchasing an additional 52,037 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Trading Down 1.1 %

Shares of URI stock opened at $758.30 on Thursday. United Rentals, Inc. has a 12-month low of $596.48 and a 12-month high of $896.98. The company has a market capitalization of $49.76 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 1.73 and a beta of 1.69. The firm has a 50 day moving average price of $767.89 and a two-hundred day moving average price of $768.71. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI) last released its quarterly earnings results 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 34.73% and a net margin of 17.12%. As a group, analysts predict that United Rentals, Inc. will post 43.43 earnings per share for the current year.

United Rentals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be paid a $1.79 dividend. This is an increase from United Rentals’s previous quarterly dividend of $1.63. This represents a $7.16 annualized dividend and a dividend yield of 0.94%. United Rentals’s dividend payout ratio is 17.03%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Citigroup dropped their price objective on United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. 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. Truist Financial decreased their price objective on shares of United Rentals from $965.00 to $963.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Robert W. Baird upgraded shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price objective on the stock in a research note on Tuesday, January 14th. Finally, Barclays raised their target price on shares of United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $813.73.

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.