Blueshift Asset Management LLC Invests $649,000 in United Rentals, Inc. (NYSE:URI)

Blueshift Asset Management LLC acquired a new position in shares of United Rentals, Inc. (NYSE:URI) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 922 shares of the construction company’s stock, valued at approximately $649,000.

A number of other hedge funds have also modified their holdings of the business. GSA Capital Partners LLP grew its stake in United Rentals by 54.2% in the 3rd quarter. GSA Capital Partners LLP now owns 589 shares of the construction company’s stock worth $477,000 after acquiring an additional 207 shares during the period. OneDigital Investment Advisors LLC grew its stake in United Rentals by 3.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 650 shares of the construction company’s stock worth $526,000 after acquiring an additional 20 shares during the period. Quest Partners LLC grew its stake in United Rentals by 4.5% in the 3rd quarter. Quest Partners LLC now owns 890 shares of the construction company’s stock worth $721,000 after acquiring an additional 38 shares during the period. Prospera Financial Services Inc grew its stake in United Rentals by 20.1% in the 3rd quarter. Prospera Financial Services Inc now owns 933 shares of the construction company’s stock worth $756,000 after acquiring an additional 156 shares during the period. Finally, Fifth Third Wealth Advisors LLC grew its stake in United Rentals by 11.2% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 757 shares of the construction company’s stock worth $613,000 after acquiring an additional 76 shares during the period. 96.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Evercore ISI lowered their target price on shares of United Rentals from $1,004.00 to $974.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Morgan Stanley lowered their price objective on shares of United Rentals from $775.00 to $765.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Truist Financial reissued a “buy” rating and set a $956.00 price objective (down from $963.00) on shares of United Rentals in a research note on Friday, January 31st. JPMorgan Chase & Co. boosted their price objective on shares of 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, Robert W. Baird raised shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price objective for the company in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, United Rentals currently has an average rating of “Moderate Buy” and a consensus target price of $829.00.

United Rentals Stock Performance

NYSE:URI opened at $631.14 on Friday. United Rentals, Inc. has a twelve month low of $585.27 and a twelve month high of $896.98. 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 firm has a market capitalization of $41.22 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 1.43 and a beta of 1.76. The firm’s fifty day simple moving average is $697.25 and its 200 day simple moving average is $757.17.

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

United Rentals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a $1.79 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $7.16 dividend on an annualized basis and a yield of 1.13%. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s payout ratio is currently 18.48%.

Insiders Place Their Bets

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 shares were sold at an average price of $638.10, for a total value of $701,910.00. Following the transaction, the chief financial officer now owns 6,880 shares in the company, valued at $4,390,128. The trade was a 13.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.53% of the stock is currently owned by company insiders.

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.