Gradient Investments LLC lifted its position in shares of United Rentals, Inc. (NYSE:URI – Free Report) by 7.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,514 shares of the construction company’s stock after purchasing an additional 2,866 shares during the period. Gradient Investments LLC’s holdings in United Rentals were worth $44,765,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in United Rentals during the 4th quarter worth approximately $978,017,000. Corient Private Wealth LLC lifted its stake in United Rentals by 1,667.4% in the fourth quarter. Corient Private Wealth LLC now owns 343,965 shares of the construction company’s stock valued at $278,378,000 after buying an additional 324,503 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in United Rentals by 3,459.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 196,688 shares of the construction company’s stock valued at $159,184,000 after buying an additional 191,162 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of United Rentals in the fourth quarter valued at approximately $102,945,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of United Rentals by 103.7% in the fourth quarter. Victory Capital Management Inc. now owns 231,018 shares of the construction company’s stock valued at $186,967,000 after acquiring an additional 117,584 shares during the period. 96.26% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on URI shares. Robert W. Baird set a $1,300.00 target price on shares of United Rentals in a research report on Friday, July 24th. Wall Street Zen upgraded shares of United Rentals from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Zacks Research upgraded shares of United Rentals from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. BNP Paribas Exane raised shares of United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price objective on the stock in a research report on Monday, June 29th. Finally, Argus restated a “buy” rating and issued a $1,250.00 price objective on shares of United Rentals in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, United Rentals currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,246.19.
Insider Buying and Selling
In other news, EVP William E. Grace sold 1,500 shares of the firm’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the completion of the sale, the executive vice president owned 6,062 shares in the company, valued at approximately $6,869,155.30. This trade represents a 19.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.47% of the company’s stock.
United Rentals Trading Down 0.0%
NYSE:URI opened at $1,162.37 on Friday. The firm has a market cap of $72.35 billion, a P/E ratio of 27.91, a PEG ratio of 1.50 and a beta of 1.80. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38. The stock’s 50 day simple moving average is $1,085.32 and its 200-day simple moving average is $933.12. United Rentals, Inc. has a 12-month low of $701.59 and a 12-month high of $1,179.18.
United Rentals (NYSE:URI – Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, topping the consensus estimate of $11.53 by $1.23. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The business had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter in the prior year, the business earned $10.47 earnings per share. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. Equities analysts anticipate that United Rentals, Inc. will post 48.55 EPS for the current year.
United Rentals Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be given a dividend of $1.97 per share. The ex-dividend date is Wednesday, August 12th. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. United Rentals’s dividend payout ratio is presently 18.92%.
United Rentals 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.
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