Denali Advisors LLC acquired a new position in United Rentals, Inc. (NYSE:URI – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,130 shares of the construction company’s stock, valued at approximately $1,280,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. NewEdge Wealth LLC bought a new stake in United Rentals during the 2nd quarter valued at $4,520,000. Danica Pension Livsforsikringsaktieselskab bought a new position in shares of United Rentals during the 2nd quarter worth $736,000. Danske Bank A S bought a new position in shares of United Rentals during the 2nd quarter worth $68,825,000. Diversify Advisory Services LLC purchased a new position in shares of United Rentals during the second quarter valued at $1,932,000. Finally, Wealthfront Advisers LLC bought a new stake in shares of United Rentals in the second quarter valued at about $10,624,000. Institutional investors own 96.26% of the company’s stock.
United Rentals Stock Down 0.0%
United Rentals stock opened at $1,116.17 on Thursday. United Rentals, Inc. has a 1-year low of $701.59 and a 1-year high of $1,179.18. The business has a fifty day moving average price of $1,098.29 and a 200-day moving average price of $946.28. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.70. The stock has a market capitalization of $69.47 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 1.44 and a beta of 1.80.
United Rentals Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be paid 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 dividend yield of 0.7%. United Rentals’s payout ratio is presently 18.92%.
Insider Activity
In other news, EVP William E. Grace sold 1,500 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the transaction, the executive vice president owned 6,062 shares in the company, valued at $6,869,155.30. This represents a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.47% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on URI. Evercore reiterated an “outperform” rating and set a $1,101.00 target price on shares of United Rentals in a report on Monday, May 11th. JPMorgan Chase & Co. increased their price objective on shares of United Rentals from $1,100.00 to $1,235.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Zacks Research raised shares of United Rentals from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. UBS Group upped their target price on United Rentals from $1,300.00 to $1,350.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Finally, Royal Bank Of Canada increased their target price on United Rentals from $1,041.00 to $1,119.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,246.19.
Read Our Latest Stock Report on URI
About United Rentals
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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