Lord Abbett & CO. LLC Has $75.90 Million Stake in United Rentals, Inc. $URI

Lord Abbett & CO. LLC boosted its stake in United Rentals, Inc. (NYSE:URI) by 9.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 93,785 shares of the construction company’s stock after purchasing an additional 8,208 shares during the period. Lord Abbett & CO. LLC owned about 0.15% of United Rentals worth $75,902,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of URI. Capital International Investors lifted its position in shares of United Rentals by 22.8% in the 3rd quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock worth $3,247,762,000 after purchasing an additional 631,484 shares during the period. Capital World Investors increased its position in shares of United Rentals by 1.1% during the fourth quarter. Capital World Investors now owns 2,708,877 shares of the construction company’s stock worth $2,192,357,000 after buying an additional 30,263 shares during the period. Franklin Resources Inc. increased its position in shares of United Rentals by 2.2% during the fourth quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company’s stock worth $1,087,711,000 after buying an additional 28,895 shares during the period. Norges Bank acquired a new stake in shares of United Rentals during the fourth quarter worth $978,017,000. Finally, Alliancebernstein L.P. increased its position in shares of United Rentals by 5.6% during the third quarter. Alliancebernstein L.P. now owns 1,088,209 shares of the construction company’s stock worth $1,038,870,000 after buying an additional 57,977 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Stock Performance

Shares of United Rentals stock opened at $1,076.03 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37. The business has a 50-day moving average price of $920.44 and a two-hundred day moving average price of $862.24. United Rentals, Inc. has a 1-year low of $682.08 and a 1-year high of $1,106.88. The company has a market cap of $67.41 billion, a P/E ratio of 27.45, a PEG ratio of 1.69 and a beta of 1.81.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.20 billion. During the same quarter in the previous year, the business posted $8.86 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. As a group, analysts anticipate that United Rentals, Inc. will post 47.26 EPS for the current year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were paid a $1.97 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. United Rentals’s dividend payout ratio (DPR) is currently 20.10%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on URI shares. Raymond James Financial reiterated an “outperform” rating and set a $1,275.00 price target on shares of United Rentals in a report on Wednesday. Robert W. Baird increased their price target on United Rentals from $970.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Barclays increased their price target on United Rentals from $600.00 to $715.00 and gave the stock an “underweight” rating in a report on Friday, April 24th. UBS Group increased their price target on United Rentals from $1,025.00 to $1,145.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Finally, Evercore reiterated an “outperform” rating and set a $1,101.00 price target on shares of United Rentals in a report on Monday, May 11th. Thirteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, United Rentals currently has a consensus rating of “Moderate Buy” and an average price target of $1,045.81.

Insider Transactions at United Rentals

In other news, SVP Joli L. Gross sold 306 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $954.99, for a total value of $292,226.94. Following the completion of the sale, the senior vice president directly owned 5,738 shares in the company, valued at $5,479,732.62. This trade represents a 5.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Matthew John Flannery sold 22,768 shares of the firm’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $984.98, for a total value of $22,426,024.64. Following the completion of the sale, the chief executive officer owned 99,980 shares of the company’s stock, valued at approximately $98,478,300.40. This represents a 18.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 26,088 shares of company stock valued at $25,628,877. 0.47% of the stock is currently owned by corporate insiders.

About United Rentals

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.