Envestnet Portfolio Solutions Inc. Sells 327 Shares of United Rentals, Inc. $URI

Envestnet Portfolio Solutions Inc. decreased its position in United Rentals, Inc. (NYSE:URI) by 17.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,541 shares of the construction company’s stock after selling 327 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in United Rentals were worth $1,161,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Nuveen LLC bought a new stake in United Rentals during the 1st quarter worth about $402,291,000. JPMorgan Chase & Co. grew its holdings 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 acquiring an additional 541,579 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in United Rentals during the 2nd quarter worth about $152,069,000. The Manufacturers Life Insurance Company grew its holdings in United Rentals by 28.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 849,786 shares of the construction company’s stock worth $532,561,000 after acquiring an additional 190,007 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in United Rentals by 22.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 661,251 shares of the construction company’s stock worth $414,406,000 after acquiring an additional 120,449 shares during the last quarter. Institutional investors own 96.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on URI shares. Weiss Ratings reissued a “hold (c+)” rating on shares of United Rentals in a report on Wednesday, October 8th. Evercore ISI reissued an “outperform” rating on shares of United Rentals in a report on Tuesday, August 19th. Citigroup increased their price objective on shares of United Rentals from $1,000.00 to $1,080.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. KeyCorp raised their target price on shares of United Rentals from $1,075.00 to $1,120.00 and gave the company an “overweight” rating in a research note on Thursday, September 25th. Finally, UBS Group raised their target price on shares of United Rentals from $780.00 to $835.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, United Rentals presently has an average rating of “Moderate Buy” and a consensus price target of $956.13.

United Rentals Stock Down 2.6%

Shares of NYSE URI opened at $979.96 on Friday. The firm has a market capitalization of $63.05 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 2.26 and a beta of 1.73. The firm’s 50-day moving average is $950.90 and its 200-day moving average is $798.11. The company has a current ratio of 0.86, a quick ratio of 0.80 and a debt-to-equity ratio of 1.34. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year high of $1,021.47.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, July 23rd. The construction company reported $10.47 earnings per share for the quarter, missing analysts’ consensus estimates of $10.54 by ($0.07). The firm had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.90 billion. United Rentals had a net margin of 16.11% and a return on equity of 32.01%. The business’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.70 earnings per share. United Rentals has set its FY 2025 guidance at EPS. Equities analysts expect that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th were given a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Wednesday, August 13th. United Rentals’s dividend payout ratio (DPR) is currently 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.