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

Lord Abbett & CO. LLC increased its position in United Rentals, Inc. (NYSE:URI) by 9.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 93,785 shares of the construction company’s stock after purchasing an additional 8,208 shares during the quarter. Lord Abbett & CO. LLC’s holdings in United Rentals were worth $75,902,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Aventura Private Wealth LLC bought a new position in United Rentals in the 4th quarter valued at about $27,000. Core Wealth Advisors LLC bought a new position in United Rentals in the 4th quarter valued at about $28,000. Abich Financial Wealth Management LLC bought a new position in United Rentals in the 3rd quarter valued at about $29,000. Board of the Pension Protection Fund bought a new position in United Rentals in the 4th quarter valued at about $32,000. Finally, Laurel Wealth Advisors LLC bought a new position in United Rentals in the 4th quarter valued at about $32,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Price Performance

United Rentals stock opened at $1,076.03 on Friday. United Rentals, Inc. has a 52 week low of $682.08 and a 52 week high of $1,106.88. The company’s 50 day moving average price is $920.44 and its two-hundred day moving average price is $862.24. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.37. The stock has a market cap of $67.41 billion, a P/E ratio of 27.45, a P/E/G ratio of 1.69 and a beta of 1.81.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing the consensus estimate of $11.47 by ($1.76). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.20 billion. During the same period in the prior year, the business earned $8.86 EPS. United Rentals’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities analysts predict that United Rentals, Inc. will post 47.26 earnings per share for the current year.

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were given a dividend of $1.97 per share. The ex-dividend date of this dividend 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 Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of United Rentals from $850.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. Truist Financial set a $1,209.00 price target on shares of United Rentals in a research report on Friday, April 24th. Citigroup raised their price target on shares of United Rentals from $950.00 to $1,130.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Sanford C. Bernstein set a $903.00 price target on shares of United Rentals and gave the company an “outperform” rating in a research report on Thursday, April 9th. Finally, Robert W. Baird raised their price target on shares of United Rentals from $970.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Thirteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, United Rentals has a consensus rating of “Moderate Buy” and a consensus price target of $1,045.81.

Insider Activity

In other United Rentals news, VP Andrew B. Limoges sold 548 shares of United Rentals stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $977.86, for a total transaction of $535,867.28. Following the transaction, the vice president owned 1,865 shares of the company’s stock, valued at $1,823,708.90. This trade represents a 22.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew John Flannery sold 22,768 shares of United Rentals stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $984.98, for a total transaction of $22,426,024.64. Following the transaction, the chief executive officer directly owned 99,980 shares in the company, valued at approximately $98,478,300.40. This represents a 18.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 26,088 shares of company stock worth $25,628,877 in the last quarter. 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.