Baird Downgrades United Rentals (URI)

On March 27, 2023,
Baird
downgraded
their outlook for United Rentals (NYSE:URI) from Neutral to Underperform.

Analyst Price Forecast Suggests 26.32% Upside

As of March 26, 2023,
the average one-year price target for United Rentals is $468.36.
The forecasts range from a low of $298.96 to a high of $588.00.
The average price target represents an increase of 26.32% from its latest reported closing price of $370.78.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for United Rentals
is $13,004MM, an increase of 11.70%.

The projected annual non-GAAP EPS
is $36.91.

What are Large Shareholders Doing?

Capital Research Global Investors
holds 3,018K shares

representing 4.35% ownership of the company.

In it’s prior filing, the firm reported owning 2,792K shares, representing
an increase
of 7.49%.

The firm

increased

its portfolio allocation in URI by 30.84% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 2,105K shares

representing 3.03% ownership of the company.

In it’s prior filing, the firm reported owning 2,082K shares, representing
an increase
of 1.09%.

The firm

increased

its portfolio allocation in URI by 22.85% over the last quarter.

Capital World Investors
holds 1,706K shares

representing 2.46% ownership of the company.

In it’s prior filing, the firm reported owning 1,693K shares, representing
an increase
of 0.75%.

The firm

increased

its portfolio allocation in URI by 25.88% over the last quarter.

Norges Bank
holds 1,650K shares

representing 2.38% ownership of the company.

In it’s prior filing, the firm reported owning 0K shares, representing
an increase
of 100.00%.

VIMSX – Vanguard Mid-Cap Index Fund Investor Shares
holds 1,614K shares

representing 2.33% ownership of the company.

In it’s prior filing, the firm reported owning 1,614K shares, representing
an increase
of 0.01%.

The firm

increased

its portfolio allocation in URI by 20.87% over the last quarter.

What is the Fund Sentiment?

There are 1758 funds or institutions reporting positions in United Rentals.

This is an increase
of
116
owner(s) or 7.06% in the last quarter.

Average portfolio weight of all funds dedicated to URI is 0.35%,
an increase
of 12.67%.

Total shares owned by institutions increased
in the last three months by 2.42% to 75,203K shares.

The put/call ratio of URI is 1.10, indicating a

bearish
outlook.

United Rentals Background Information
(This description is provided by the company.)

United Rentals, Inc. is the largest equipment rental company in the world. The company has an integrated network of 1,169 rental locations in North America and 11 in Europe. In North America, the company operates in 49 states and every Canadian province. The company’s approximately 18,900 employees serve construction and industrial customers, utilities, municipalities, homeowners and others. The company offers approximately 4,000 classes of equipment for rent with a total original cost of $14.13 billion. United Rentals is a member of the Standard & Poor’s 500 Index, the Barron’s 400 Index and the Russell 3000 Index® and is headquartered in Stamford, Conn.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.