Cyndeo Wealth Partners LLC Invests $1.81 Million in United Rentals, Inc. (NYSE:URI)

Cyndeo Wealth Partners LLC bought a new position in shares of United Rentals, Inc. (NYSE:URI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,569 shares of the construction company’s stock, valued at approximately $1,810,000.

A number of other hedge funds and other institutional investors have also modified their holdings of URI. FMR LLC increased its holdings in United Rentals by 3.7% in the third quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock valued at $1,956,768,000 after buying an additional 85,325 shares during the last quarter. International Assets Investment Management LLC increased its holdings in United Rentals by 82,462.2% in the third quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock valued at $1,300,962,000 after buying an additional 1,604,715 shares during the last quarter. Geode Capital Management LLC increased its holdings in United Rentals by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,566,802 shares of the construction company’s stock valued at $1,264,326,000 after buying an additional 9,256 shares during the last quarter. Franklin Resources Inc. increased its holdings in United Rentals by 6.1% in the third quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock valued at $862,110,000 after buying an additional 57,002 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in United Rentals by 15.4% in the third quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock valued at $637,968,000 after buying an additional 105,287 shares during the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Argus boosted their price objective on United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Baird R W upgraded United Rentals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 14th. Truist Financial decreased their target price on United Rentals from $965.00 to $963.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Robert W. Baird upgraded United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 target price for the company in a research note on Tuesday, January 14th. Finally, Bank of America lifted their target price on United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $805.08.

United Rentals Trading Up 0.2 %

United Rentals stock opened at $790.25 on Friday. The company’s fifty day simple moving average is $771.48 and its 200-day simple moving average is $766.58. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 1.38. United Rentals, Inc. has a 12 month low of $596.48 and a 12 month high of $896.98. The stock has a market cap of $51.86 billion, a P/E ratio of 20.64, a P/E/G ratio of 1.73 and a beta of 1.69.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, October 23rd. The construction company reported $11.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.01 billion. United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $11.73 earnings per share. As a group, sell-side analysts forecast that United Rentals, Inc. will post 43.43 EPS for the current fiscal year.

Insider Buying and Selling at United Rentals

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $823.24, for a total transaction of $740,916.00. Following the completion of the sale, the senior vice president now directly owns 2,044 shares in the company, valued at $1,682,702.56. This represents a 30.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.53% of the company’s stock.

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.