Allstate Corp Invests $1.38 Million in United Rentals, Inc. (NYSE:URI)

Allstate Corp purchased a new stake in shares of United Rentals, Inc. (NYSE:URI) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,955 shares of the construction company’s stock, valued at approximately $1,377,000.

A number of other large investors have also added to or reduced their stakes in URI. GHP Investment Advisors Inc. grew its position in shares of United Rentals by 6.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 14,855 shares of the construction company’s stock valued at $10,464,000 after acquiring an additional 877 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in United Rentals by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 445,214 shares of the construction company’s stock valued at $313,627,000 after purchasing an additional 6,787 shares during the period. Fiduciary Alliance LLC increased its position in United Rentals by 196.5% in the fourth quarter. Fiduciary Alliance LLC now owns 1,420 shares of the construction company’s stock worth $1,000,000 after buying an additional 941 shares during the last quarter. Blueshift Asset Management LLC bought a new stake in shares of United Rentals in the fourth quarter valued at $649,000. Finally, Nordea Investment Management AB lifted its position in shares of United Rentals by 7.6% during the 4th quarter. Nordea Investment Management AB now owns 732,954 shares of the construction company’s stock valued at $517,018,000 after buying an additional 52,037 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Price Performance

United Rentals stock opened at $627.10 on Monday. The business has a 50-day simple moving average of $686.97 and a 200 day simple moving average of $755.28. United Rentals, Inc. has a 52 week low of $585.27 and a 52 week high of $896.98. The stock has a market cap of $40.97 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 1.43 and a beta of 1.76. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42.

United Rentals (NYSE:URI) last posted 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%. On average, research analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Wednesday, February 12th. United Rentals’s payout ratio is currently 18.48%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on URI. Truist Financial reissued a “buy” rating and issued a $956.00 price objective (down previously from $963.00) on shares of United Rentals in a report on Friday, January 31st. Bank of America reduced their target price on shares of United Rentals from $850.00 to $750.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Citigroup dropped their price target on shares of United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Sanford C. Bernstein upgraded shares of United Rentals from an “underperform” rating to a “market perform” rating and reduced their price objective for the company from $705.00 to $666.00 in a research note on Tuesday, March 25th. Finally, Morgan Stanley lowered their target price on shares of United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, United Rentals currently has an average rating of “Moderate Buy” and an average target price of $804.15.

Insider Buying and Selling

In other United Rentals 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 transaction of $701,910.00. Following the completion of the sale, the chief financial officer now owns 6,880 shares of the company’s stock, valued at $4,390,128. The trade was a 13.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.53% of the stock is owned by company insiders.

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.