United Rentals (NYSE:URI – Get Free Report) released its earnings results on Wednesday. The construction company reported $12.76 earnings per share for the quarter, beating analysts’ consensus estimates of $11.53 by $1.23, FiscalAI reports. The company had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.22 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%.
United Rentals Price Performance
Shares of URI stock traded up $20.74 during trading hours on Wednesday, hitting $1,034.28. The stock had a trading volume of 669,156 shares, compared to its average volume of 595,934. United Rentals has a one year low of $701.59 and a one year high of $1,143.69. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.74. The stock’s 50-day moving average price is $1,043.86 and its two-hundred day moving average price is $913.86. The stock has a market capitalization of $64.79 billion, a price-to-earnings ratio of 26.38, a PEG ratio of 1.62 and a beta of 1.79.
Wall Street Analyst Weigh In
URI has been the subject of a number of analyst reports. Royal Bank Of Canada increased their price target on United Rentals from $1,041.00 to $1,119.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Raymond James Financial reaffirmed an “outperform” rating and issued a $1,275.00 price objective on shares of United Rentals in a research note on Wednesday, June 10th. Bank of America increased their target price on United Rentals from $1,020.00 to $1,195.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Truist Financial lifted their target price on United Rentals from $1,209.00 to $1,421.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Finally, Weiss Ratings cut United Rentals from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. Fourteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,140.00.
Insider Transactions at United Rentals
In related news, VP Andrew B. Limoges sold 548 shares of the stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $977.86, for a total transaction of $535,867.28. Following the completion of the transaction, the vice president directly owned 1,865 shares of the company’s stock, valued at approximately $1,823,708.90. This represents a 22.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew John Flannery sold 22,768 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $984.98, for a total value of $22,426,024.64. Following the transaction, the chief executive officer owned 99,980 shares of the company’s stock, valued at $98,478,300.40. This represents a 18.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 26,088 shares of company stock valued at $25,628,877 in the last ninety days. Corporate insiders own 0.47% of the company’s stock.
Hedge Funds Weigh In On United Rentals
Several institutional investors have recently bought and sold shares of the business. Boston Partners increased its holdings in shares of United Rentals by 4.1% in the 3rd quarter. Boston Partners now owns 744,672 shares of the construction company’s stock worth $712,228,000 after buying an additional 29,422 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of United Rentals by 0.9% in the 3rd quarter. Invesco Ltd. now owns 649,608 shares of the construction company’s stock valued at $620,155,000 after acquiring an additional 5,497 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of United Rentals by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 491,145 shares of the construction company’s stock valued at $397,493,000 after acquiring an additional 8,042 shares during the last quarter. Amundi grew its position in United Rentals by 19.2% in the fourth quarter. Amundi now owns 376,795 shares of the construction company’s stock worth $304,948,000 after acquiring an additional 60,771 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in United Rentals by 0.6% in the fourth quarter. Wells Fargo & Company MN now owns 287,645 shares of the construction company’s stock worth $232,797,000 after acquiring an additional 1,609 shares in the last quarter. Institutional investors own 96.26% of the company’s stock.
United Rentals Company 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.
Featured Stories
- Five stocks we like better than United Rentals
- Could Truth API Become Trump Media’s First Meaningful Revenue Driver?
- Small Caps Are Crushing the S&P 500—3 Stocks Still Worth Buying
- Moog Is More Than a Missile Maker, and Wall Street Is Noticing
- A Boring Dividend Growth Strategy Becomes a Solid Defensive Play
Receive News & Ratings for United Rentals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Rentals and related companies with MarketBeat.com's FREE daily email newsletter.
