Haverford Trust Co bought a new stake in United Rentals, Inc. (NYSE:URI – Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 655 shares of the construction company’s stock, valued at approximately $742,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. First Nebraska Trust Co bought a new stake in shares of United Rentals during the 2nd quarter worth $285,000. Bank of Nova Scotia bought a new position in United Rentals in the second quarter valued at about $20,265,000. Kendall Capital Management bought a new position in United Rentals in the second quarter valued at about $2,364,000. Elevation Point Wealth Partners LLC acquired a new position in United Rentals during the second quarter worth about $4,499,000. Finally, Alta Advisers Ltd acquired a new position in United Rentals during the second quarter worth about $281,000. Institutional investors own 96.26% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the stock. UBS Group upped their price objective on shares of United Rentals from $1,300.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Barclays raised their target price on shares of United Rentals from $715.00 to $950.00 and gave the company an “underweight” rating in a research report on Friday, July 24th. Evercore reaffirmed an “outperform” rating and set a $1,101.00 target price on shares of United Rentals in a research note on Monday, May 11th. Raymond James Financial reiterated an “outperform” rating and set a $1,275.00 price target on shares of United Rentals in a report on Wednesday, June 10th. Finally, Zacks Research upgraded United Rentals from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, United Rentals presently has an average rating of “Moderate Buy” and a consensus target price of $1,246.19.
United Rentals Stock Down 0.0%
NYSE:URI opened at $1,095.21 on Friday. United Rentals, Inc. has a one year low of $701.59 and a one year high of $1,179.18. 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 company has a market cap of $68.17 billion, a PE ratio of 26.30, a P/E/G ratio of 1.42 and a beta of 1.80. The firm’s 50 day simple moving average is $1,099.22 and its 200 day simple moving average is $949.51.
United Rentals (NYSE:URI – Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.53 by $1.23. The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $10.47 earnings per share. On average, research analysts anticipate that United Rentals, Inc. will post 48.55 earnings per share for the current year.
United Rentals Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be issued a $1.97 dividend. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Wednesday, August 12th. United Rentals’s dividend payout ratio is presently 18.92%.
Insider Transactions at United Rentals
In related news, EVP William E. Grace sold 1,500 shares of the firm’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the completion of the transaction, the executive vice president directly owned 6,062 shares of the company’s stock, valued at $6,869,155.30. This trade represents a 19.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.47% of the stock is currently owned by corporate insiders.
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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