Institute for Wealth Management LLC. Has $5.42 Million Stock Position in United Rentals, Inc. (NYSE:URI)

Institute for Wealth Management LLC. reduced its stake in United Rentals, Inc. (NYSE:URI) by 2.8% during the 4th quarter, HoldingsChannel reports. The firm owned 7,688 shares of the construction company’s stock after selling 220 shares during the quarter. United Rentals makes up approximately 0.7% of Institute for Wealth Management LLC.’s holdings, making the stock its 23rd biggest holding. Institute for Wealth Management LLC.’s holdings in United Rentals were worth $5,415,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of URI. ORG Wealth Partners LLC acquired a new stake in shares of United Rentals during the 4th quarter worth about $26,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of United Rentals during the third quarter worth approximately $31,000. Carmichael Hill & Associates Inc. raised its stake in shares of United Rentals by 80.0% in the third quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company’s stock valued at $36,000 after acquiring an additional 20 shares during the last quarter. Hanson & Doremus Investment Management acquired a new position in shares of United Rentals in the 4th quarter worth approximately $33,000. Finally, HM Payson & Co. bought a new stake in United Rentals during the 3rd quarter worth approximately $41,000. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Price Performance

Shares of NYSE:URI opened at $774.50 on Friday. The stock’s 50 day moving average is $766.58 and its 200-day moving average is $768.75. United Rentals, Inc. has a twelve month low of $596.48 and a twelve month high of $896.98. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $50.82 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 1.68 and a beta of 1.69.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, January 29th. The construction company reported $11.59 EPS for the quarter, missing the consensus estimate of $11.65 by ($0.06). United Rentals had a return on equity of 34.51% and a net margin of 16.78%. Sell-side analysts forecast that United Rentals, Inc. will post 46.06 EPS for the current fiscal year.

United Rentals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be issued a $1.79 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $7.16 annualized dividend and a dividend yield of 0.92%. This is a boost from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s dividend payout ratio (DPR) is presently 16.83%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Bank of America boosted their target price on shares of United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Robert W. Baird raised United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 target price for the company in a research note on Tuesday, January 14th. Truist Financial dropped their target price on United Rentals from $965.00 to $963.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Barclays raised their price target on United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Finally, Baird R W raised United Rentals from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $813.73.

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.