Allspring Global Investments Holdings LLC Sells 691 Shares of United Rentals, Inc. (NYSE:URI)

Allspring Global Investments Holdings LLC reduced its position in United Rentals, Inc. (NYSE:URI) by 5.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,317 shares of the construction company’s stock after selling 691 shares during the period. Allspring Global Investments Holdings LLC’s holdings in United Rentals were worth $8,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Davidson Capital Management Inc. lifted its stake in shares of United Rentals by 3.4% in the 4th quarter. Davidson Capital Management Inc. now owns 4,648 shares of the construction company’s stock worth $3,274,000 after purchasing an additional 151 shares during the period. Certuity LLC bought a new position in shares of United Rentals during the 4th quarter valued at about $229,000. Schear Investment Advisers LLC grew its position in shares of United Rentals by 4.6% during the fourth quarter. Schear Investment Advisers LLC now owns 1,745 shares of the construction company’s stock valued at $1,229,000 after purchasing an additional 77 shares in the last quarter. Leavell Investment Management Inc. increased its holdings in shares of United Rentals by 8.8% in the fourth quarter. Leavell Investment Management Inc. now owns 497 shares of the construction company’s stock worth $350,000 after purchasing an additional 40 shares during the last quarter. Finally, Paladin Wealth LLC lifted its position in shares of United Rentals by 6.9% in the fourth quarter. Paladin Wealth LLC now owns 1,037 shares of the construction company’s stock worth $731,000 after buying an additional 67 shares in the last quarter. Institutional investors own 96.26% of the company’s stock.

United Rentals Trading Down 2.7 %

NYSE URI opened at $721.61 on Wednesday. The firm has a market cap of $47.13 billion, a PE ratio of 18.62, a price-to-earnings-growth ratio of 1.54 and a beta of 1.68. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. The company has a 50 day moving average price of $737.38 and a 200 day moving average price of $770.38. United Rentals, Inc. has a 52 week low of $596.48 and a 52 week high of $896.98.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, January 29th. The construction company reported $11.59 earnings per share for the quarter, missing the consensus estimate of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. As a group, sell-side analysts forecast that United Rentals, Inc. will post 44.93 EPS for the current fiscal year.

United Rentals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be paid a $1.79 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 0.99%. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s dividend payout ratio is presently 16.83%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on URI. Morgan Stanley decreased their price objective on United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Barclays raised their target price on shares of United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Truist Financial reissued a “buy” rating and issued a $956.00 price objective (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 research report on Tuesday, January 14th. Finally, Citigroup dropped their price target on United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, United Rentals currently has a consensus rating of “Moderate Buy” and an average price target of $814.08.

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.