United Rentals, Inc. $URI Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in shares of United Rentals, Inc. (NYSE:URI) by 2.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,844 shares of the construction company’s stock after selling 1,910 shares during the period. Principal Financial Group Inc. owned about 0.11% of United Rentals worth $51,614,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of United Rentals in the 4th quarter valued at $978,017,000. Corient Private Wealth LLC boosted its position in United Rentals by 1,667.4% during the 4th quarter. Corient Private Wealth LLC now owns 343,965 shares of the construction company’s stock worth $278,378,000 after purchasing an additional 324,503 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in United Rentals by 3,459.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 196,688 shares of the construction company’s stock valued at $159,184,000 after purchasing an additional 191,162 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in United Rentals in the 4th quarter valued at $102,945,000. Finally, Victory Capital Management Inc. raised its position in United Rentals by 103.7% in the fourth quarter. Victory Capital Management Inc. now owns 231,018 shares of the construction company’s stock valued at $186,967,000 after purchasing an additional 117,584 shares during the period. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on URI. Evercore reaffirmed an “outperform” rating and issued a $1,101.00 target price on shares of United Rentals in a research report on Monday, May 11th. Bank of America boosted their price target on United Rentals from $1,020.00 to $1,195.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. JPMorgan Chase & Co. upped their price target on United Rentals from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Truist Financial increased their price objective on shares of United Rentals from $1,209.00 to $1,421.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Finally, Raymond James Financial reiterated an “outperform” rating and set a $1,275.00 price objective on shares of United Rentals in a research note on Wednesday, June 10th. Fourteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, United Rentals has an average rating of “Moderate Buy” and a consensus target price of $1,140.00.

United Rentals Stock Down 2.6%

Shares of United Rentals stock opened at $1,043.73 on Friday. United Rentals, Inc. has a 1-year low of $701.59 and a 1-year high of $1,143.69. The company has a market capitalization of $65.39 billion, a PE ratio of 26.63, a P/E/G ratio of 1.71 and a beta of 1.79. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.74. The business has a 50-day moving average of $1,041.31 and a 200-day moving average of $910.42.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The business had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $4.20 billion. During the same period in the prior year, the company posted $8.86 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, equities analysts forecast that United Rentals, Inc. will post 46.77 EPS for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were paid a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Wednesday, May 13th. United Rentals’s dividend payout ratio is 20.10%.

Insider Activity at United Rentals

In other United Rentals news, SVP Joli L. Gross sold 306 shares of the stock in a transaction on Monday, April 27th. The shares were sold at an average price of $954.99, for a total transaction of $292,226.94. Following the transaction, the senior vice president directly owned 5,738 shares in the company, valued at $5,479,732.62. This represents a 5.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Craig Adam Pintoff sold 2,466 shares of the stock in a transaction on Monday, April 27th. The shares were sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the transaction, the executive vice president owned 14,774 shares in the company, valued at $14,227,362. This trade represents a 14.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 26,088 shares of company stock worth $25,628,877 over the last three months. 0.47% of the stock is owned by corporate insiders.

United Rentals Profile

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.