Parkside Financial Bank & Trust Purchases 84 Shares of United Rentals, Inc. (NYSE:URI)

Parkside Financial Bank & Trust grew its position in United Rentals, Inc. (NYSE:URI) by 8.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,042 shares of the construction company’s stock after acquiring an additional 84 shares during the period. Parkside Financial Bank & Trust’s holdings in United Rentals were worth $598,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC raised its position in shares of United Rentals by 58,829.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,043,051 shares of the construction company’s stock valued at $598,106,000 after acquiring an additional 1,041,281 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of United Rentals by 88.1% in the 3rd quarter. Deutsche Bank AG now owns 362,151 shares of the construction company’s stock valued at $161,001,000 after buying an additional 169,586 shares during the period. Invesco Ltd. grew its holdings in shares of United Rentals by 19.1% in the 3rd quarter. Invesco Ltd. now owns 933,428 shares of the construction company’s stock valued at $414,974,000 after buying an additional 149,838 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of United Rentals in the 3rd quarter valued at $40,634,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of United Rentals by 12.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 638,958 shares of the construction company’s stock valued at $284,061,000 after buying an additional 72,066 shares during the period. Institutional investors own 96.26% of the company’s stock.

Insider Buying and Selling

In other United Rentals news, CFO William E. Grace sold 775 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $655.62, for a total value of $508,105.50. Following the sale, the chief financial officer now owns 6,323 shares in the company, valued at $4,145,485.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.49% of the stock is currently owned by company insiders.

United Rentals Stock Performance

Shares of NYSE:URI traded up $32.50 on Tuesday, reaching $661.80. 405,975 shares of the company’s stock were exchanged, compared to its average volume of 578,989. The company has a fifty day moving average of $679.24 and a 200-day moving average of $573.90. United Rentals, Inc. has a twelve month low of $325.15 and a twelve month high of $732.37. The company has a market capitalization of $44.45 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 2.18 and a beta of 1.84. The company has a current ratio of 0.81, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, January 24th. The construction company reported $11.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.85 by $0.41. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.63 billion. United Rentals had a net margin of 16.91% and a return on equity of 36.80%. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the business posted $9.74 EPS. On average, research analysts predict that United Rentals, Inc. will post 43.13 EPS for the current fiscal year.

United Rentals announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 24th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 3.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

United Rentals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were given a dividend of $1.63 per share. This is a positive change from United Rentals’s previous quarterly dividend of $1.48. The ex-dividend date was Tuesday, February 13th. This represents a $6.52 annualized dividend and a dividend yield of 0.99%. United Rentals’s dividend payout ratio (DPR) is currently 18.44%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on URI. Wells Fargo & Company upped their target price on shares of United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Truist Financial began coverage on shares of United Rentals in a research note on Thursday, March 14th. They issued a “buy” rating and a $793.00 target price for the company. Evercore ISI upped their target price on shares of United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Robert W. Baird upped their target price on shares of United Rentals from $322.00 to $559.00 and gave the stock an “underperform” rating in a research note on Friday, January 26th. Finally, The Goldman Sachs Group upped their target price on shares of United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $589.21.

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.