Freestone Grove Partners LP bought a new stake in United Rentals, Inc. (NYSE:URI – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 69,428 shares of the construction company’s stock, valued at approximately $78,654,000.
Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in United Rentals in the second quarter valued at about $5,816,326,000. Norges Bank purchased a new stake in shares of United Rentals in the fourth quarter worth about $978,017,000. The Manufacturers Life Insurance Company purchased a new stake in shares of United Rentals in the second quarter worth about $716,129,000. Bank of New York Mellon Corp acquired a new stake in shares of United Rentals in the second quarter valued at about $412,860,000. Finally, Legal & General Group Plc acquired a new stake in shares of United Rentals in the second quarter valued at about $411,896,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.
United Rentals Trading Up 0.5%
NYSE:URI opened at $1,058.50 on Thursday. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38. The business’s 50 day moving average is $1,099.04 and its two-hundred day moving average is $955.68. United Rentals, Inc. has a 52 week low of $701.59 and a 52 week high of $1,179.18. The company has a market cap of $65.88 billion, a PE ratio of 25.42, a P/E/G ratio of 1.36 and a beta of 1.80.
United Rentals Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were 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 of this dividend was Wednesday, August 12th. United Rentals’s payout ratio is currently 18.92%.
Insiders Place Their Bets
In other United Rentals news, EVP William E. Grace sold 1,500 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president owned 6,062 shares in the company, valued at $6,869,155.30. The trade was a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several equities analysts recently commented on the company. Citigroup boosted their price target on United Rentals from $1,270.00 to $1,330.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Truist Financial increased their price objective on shares of United Rentals from $1,421.00 to $1,466.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Wells Fargo & Company lifted their price objective on shares of United Rentals from $1,245.00 to $1,355.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Zacks Research upgraded shares of United Rentals from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Finally, Barclays raised their price target on shares of United Rentals from $715.00 to $950.00 and gave the company an “underweight” rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, United Rentals has an average rating of “Moderate Buy” and an average target price of $1,246.19.
Get Our Latest Analysis on United Rentals
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
- Williams-Sonoma’s Quarter Gave Bulls More Than Just a Beat-and-Raise
- Alcoa’s Gallium Project Opens a New Door Beyond Aluminum
- Oura’s $16 Billion IPO Could Put a New Price on Wearable Tech
- Can Tesla’s Flying Roadster Distract From Its Real Risks?
Want to see what other hedge funds are holding URI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Rentals, Inc. (NYSE:URI – Free Report).
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.
