Fred Alger Management LLC Buys 4,687 Shares of United Rentals, Inc. (NYSE:URI)

Fred Alger Management LLC raised its stake in United Rentals, Inc. (NYSE:URI) by 185.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,210 shares of the construction company’s stock after purchasing an additional 4,687 shares during the quarter. Fred Alger Management LLC’s holdings in United Rentals were worth $5,079,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Adell Harriman & Carpenter Inc. grew its stake in shares of United Rentals by 1.8% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 814 shares of the construction company’s stock worth $573,000 after acquiring an additional 14 shares during the last quarter. Valmark Advisers Inc. grew its position in United Rentals by 1.8% during the 4th quarter. Valmark Advisers Inc. now owns 788 shares of the construction company’s stock worth $555,000 after purchasing an additional 14 shares during the last quarter. Erste Asset Management GmbH increased its stake in United Rentals by 0.5% during the 4th quarter. Erste Asset Management GmbH now owns 2,794 shares of the construction company’s stock valued at $2,002,000 after purchasing an additional 14 shares in the last quarter. Forum Financial Management LP increased its position in shares of United Rentals by 1.9% in the 4th quarter. Forum Financial Management LP now owns 749 shares of the construction company’s stock valued at $528,000 after acquiring an additional 14 shares during the period. Finally, Klingman & Associates LLC lifted its position in United Rentals by 2.3% during the 4th quarter. Klingman & Associates LLC now owns 669 shares of the construction company’s stock worth $471,000 after acquiring an additional 15 shares during the period. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Price Performance

Shares of NYSE URI opened at $672.53 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92. The company has a market cap of $43.71 billion, a PE ratio of 17.36, a P/E/G ratio of 1.43 and a beta of 1.70. The stock has a fifty day moving average price of $616.74 and a 200 day moving average price of $714.50. United Rentals, Inc. has a 1-year low of $525.91 and a 1-year high of $896.98.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, April 23rd. The construction company reported $8.86 earnings per share for the quarter, missing analysts’ consensus estimates of $8.92 by ($0.06). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same period in the prior year, the company earned $9.15 EPS. The company’s revenue was up 6.7% on a year-over-year basis. Sell-side analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be given a $1.79 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $7.16 annualized dividend and a dividend yield of 1.06%. United Rentals’s dividend payout ratio is presently 18.54%.

Insider Activity

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 completion of the transaction, the chief financial officer now directly owns 6,880 shares in the company, valued at approximately $4,390,128. The trade was a 13.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on URI shares. Cfra Research raised United Rentals to a “strong-buy” rating in a report on Friday, April 25th. Evercore ISI decreased their price objective on United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. UBS Group lowered shares of United Rentals from a “buy” rating to a “sell” rating and decreased their price objective for the stock from $910.00 to $485.00 in a report on Monday, April 7th. Bank of America dropped their target price on United Rentals from $850.00 to $750.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Finally, JPMorgan Chase & Co. reduced their price target on United Rentals from $1,000.00 to $750.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $725.69.

United Rentals Company 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.