Invesco LLC Reduces Holdings in United Rentals, Inc. $URI

Invesco LLC reduced its position in United Rentals, Inc. (NYSE:URI) by 34.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 434 shares of the construction company’s stock after selling 233 shares during the period. Invesco LLC’s holdings in United Rentals were worth $327,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in URI. Nuveen LLC acquired a new position in shares of United Rentals in the 1st quarter valued at $402,291,000. JPMorgan Chase & Co. grew its position in United Rentals by 98.1% during the 1st quarter. JPMorgan Chase & Co. now owns 1,093,805 shares of the construction company’s stock worth $685,488,000 after purchasing an additional 541,579 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in United Rentals by 28.8% in the first quarter. The Manufacturers Life Insurance Company now owns 849,786 shares of the construction company’s stock valued at $532,561,000 after purchasing an additional 190,007 shares during the period. Goldman Sachs Group Inc. increased its stake in United Rentals by 22.3% in the first quarter. Goldman Sachs Group Inc. now owns 661,251 shares of the construction company’s stock valued at $414,406,000 after purchasing an additional 120,449 shares during the period. Finally, Ceredex Value Advisors LLC purchased a new stake in shares of United Rentals in the first quarter valued at about $65,613,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Wall Street Analyst Weigh In

URI has been the topic of a number of research reports. BNP Paribas Exane raised United Rentals from an “underperform” rating to a “neutral” rating and set a $900.00 price target on the stock in a report on Tuesday, September 16th. Citigroup lifted their target price on United Rentals from $1,000.00 to $1,080.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Sanford C. Bernstein set a $1,128.00 price target on United Rentals and gave the stock an “outperform” rating in a research note on Tuesday, September 23rd. Argus set a $935.00 price target on United Rentals in a report on Tuesday, August 12th. Finally, BNP Paribas set a $900.00 price objective on shares of United Rentals and gave the company a “neutral” rating in a research note on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $911.06.

United Rentals Trading Up 1.7%

NYSE:URI opened at $947.47 on Monday. The stock has a fifty day moving average price of $913.99 and a two-hundred day moving average price of $762.86. The stock has a market capitalization of $60.96 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 2.19 and a beta of 1.72. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.80 and a current ratio of 0.86. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year high of $980.53.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, July 23rd. The construction company reported $10.47 EPS for the quarter, missing the consensus estimate of $10.54 by ($0.07). The company had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.90 billion. United Rentals had a return on equity of 32.01% and a net margin of 16.11%.United Rentals’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.70 earnings per share. United Rentals has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th were issued a $1.79 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $7.16 dividend on an annualized basis and a yield of 0.8%. United Rentals’s dividend payout ratio (DPR) is 18.52%.

About United Rentals

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.