Pictet Asset Management Holding SA Boosts Stock Holdings in United Rentals, Inc. (NYSE:URI)

Pictet Asset Management Holding SA grew its stake in shares of United Rentals, Inc. (NYSE:URI) by 16.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,262 shares of the construction company’s stock after buying an additional 5,782 shares during the period. Pictet Asset Management Holding SA owned 0.06% of United Rentals worth $28,362,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in URI. Rialto Wealth Management LLC acquired a new stake in United Rentals during the fourth quarter worth about $25,000. ORG Wealth Partners LLC purchased a new stake in shares of United Rentals during the 4th quarter worth about $26,000. Murphy & Mullick Capital Management Corp acquired a new stake in United Rentals during the 4th quarter worth approximately $27,000. Hanson & Doremus Investment Management purchased a new position in United Rentals in the fourth quarter valued at approximately $33,000. Finally, Kestra Investment Management LLC acquired a new position in United Rentals during the fourth quarter valued at approximately $34,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO William E. Grace sold 1,100 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 6,880 shares of the company’s stock, valued at $4,390,128. This represents a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.53% of the company’s stock.

United Rentals Price Performance

Shares of NYSE:URI opened at $625.97 on Tuesday. United Rentals, Inc. has a 12 month low of $585.27 and a 12 month high of $896.98. The stock has a market cap of $40.90 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 1.43 and a beta of 1.76. The stock’s 50 day moving average price is $684.08 and its 200 day moving average price is $754.67. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92.

United Rentals (NYSE:URI) last released its earnings results 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%. Equities research analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 1.14%. This is a boost from United Rentals’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Wednesday, February 12th. United Rentals’s dividend payout ratio (DPR) is presently 18.48%.

Analysts Set New Price Targets

URI has been the topic of a number of research reports. Truist Financial reissued a “buy” rating and issued a $956.00 target price (down previously from $963.00) on shares of United Rentals in a research note on Friday, January 31st. Baird R W raised United Rentals from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 14th. Citigroup decreased their price objective on shares of United Rentals from $985.00 to $835.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Morgan Stanley lowered their price target 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. Finally, Evercore ISI dropped their price objective on shares of United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, United Rentals has a consensus rating of “Moderate Buy” and a consensus price target of $804.15.

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.