Chevy Chase Trust Holdings LLC Sells 1,267 Shares of United Rentals, Inc. (NYSE:URI)

Chevy Chase Trust Holdings LLC trimmed its holdings in United Rentals, Inc. (NYSE:URI) by 3.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,438 shares of the construction company’s stock after selling 1,267 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in United Rentals were worth $24,260,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. ORG Wealth Partners LLC bought a new position in shares of United Rentals during the 4th quarter valued at approximately $26,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of United Rentals during the 3rd quarter valued at approximately $31,000. Hanson & Doremus Investment Management bought a new position in shares of United Rentals during the 4th quarter valued at approximately $33,000. Carmichael Hill & Associates Inc. boosted its position in shares of United Rentals by 80.0% during the 3rd 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. Finally, HM Payson & Co. bought a new position in shares of United Rentals during the 3rd quarter valued at approximately $41,000. 96.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

URI has been the subject of a number of research reports. Argus increased 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. Barclays increased 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. Truist Financial restated a “buy” rating and set a $956.00 price target (down previously from $963.00) on shares of United Rentals in a report on Friday, January 31st. Morgan Stanley decreased their price target on United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Finally, Bank of America increased their price target on United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $814.08.

United Rentals Stock Performance

URI stock opened at $741.10 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. The business’s fifty day simple moving average is $740.77 and its two-hundred day simple moving average is $769.76. United Rentals, Inc. has a twelve month low of $596.48 and a twelve month high of $896.98. The firm has a market cap of $48.40 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 1.54 and a beta of 1.68.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, January 29th. The construction company reported $11.59 earnings per share for the quarter, missing analysts’ consensus estimates of $11.65 by ($0.06). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. Analysts predict that United Rentals, Inc. will post 44.93 earnings per share for the current year.

United Rentals Increases Dividend

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

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.