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

Allstate Corp acquired a new stake in shares of United Rentals, Inc. (NYSE:URI) during the fourth quarter, Holdings Channel reports. The fund acquired 1,955 shares of the construction company’s stock, valued at approximately $1,377,000.

Several other large investors have also recently modified their holdings of the stock. Norges Bank purchased a new stake in United Rentals during the 4th quarter valued at about $695,716,000. Proficio Capital Partners LLC bought a new position in shares of United Rentals in the fourth quarter worth approximately $171,733,000. Raymond James Financial Inc. purchased a new position in shares of United Rentals in the fourth quarter worth $164,493,000. TD Asset Management Inc. raised its holdings in United Rentals by 207.8% during the 4th quarter. TD Asset Management Inc. now owns 234,366 shares of the construction company’s stock valued at $165,097,000 after buying an additional 158,214 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in United Rentals by 15.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock valued at $637,968,000 after buying an additional 105,287 shares during the period. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Price Performance

URI opened at $627.10 on Monday. 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 company has a market cap of $40.97 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 1.43 and a beta of 1.76. The stock has a fifty day simple moving average of $686.97 and a two-hundred day simple moving average of $755.28. United Rentals, Inc. has a 12-month low of $585.27 and a 12-month high of $896.98.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, January 29th. The construction company reported $11.59 earnings per share (EPS) 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%. Research analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a $1.79 dividend. This is a boost 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%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on URI. Citigroup lowered their price objective on shares of United Rentals from $985.00 to $835.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Baird R W raised United Rentals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 14th. Morgan Stanley dropped their price objective on United Rentals from $775.00 to $765.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. JPMorgan Chase & Co. boosted their target price on United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Bank of America dropped their price target on United Rentals from $850.00 to $750.00 and set a “buy” rating for the company in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, United Rentals has a consensus rating of “Moderate Buy” and a consensus price target of $804.15.

Insider Buying and Selling

In other United Rentals news, CFO William E. Grace sold 1,100 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $638.10, for a total value of $701,910.00. Following the sale, the chief financial officer now directly owns 6,880 shares of the company’s stock, 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 legal filing with the SEC, which can be accessed through this link. 0.53% of the stock is currently 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.