Glenview Trust Co acquired a new position in United Rentals, Inc. (NYSE:URI – Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 15,859 shares of the construction company’s stock, valued at approximately $17,967,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Woodline Partners LP increased its position in shares of United Rentals by 40.0% during the 1st quarter. Woodline Partners LP now owns 5,518 shares of the construction company’s stock worth $3,458,000 after purchasing an additional 1,577 shares during the last quarter. Sei Investments Co. lifted its position in United Rentals by 24.7% in the second quarter. Sei Investments Co. now owns 27,136 shares of the construction company’s stock valued at $20,444,000 after buying an additional 5,375 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in United Rentals by 43.6% in the second quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company’s stock valued at $42,233,000 after buying an additional 17,030 shares during the last quarter. HUB Investment Partners LLC boosted its stake in United Rentals by 11.3% during the second quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company’s stock worth $1,661,000 after buying an additional 223 shares during the period. Finally, Diversify Advisory Services LLC boosted its stake in United Rentals by 338.7% during the second quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company’s stock worth $1,246,000 after buying an additional 1,277 shares during the period. Institutional investors and hedge funds own 96.26% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the stock. Weiss Ratings upgraded shares of United Rentals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 23rd. Citigroup increased their price objective on shares of 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. Morgan Stanley set a $1,335.00 target price on shares of United Rentals and gave the company an “overweight” rating in a report on Friday, July 24th. Wall Street Zen upgraded shares of United Rentals from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Finally, Wells Fargo & Company boosted their target price on United Rentals from $1,245.00 to $1,355.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, United Rentals currently has an average rating of “Moderate Buy” and a consensus target price of $1,246.19.
United Rentals Stock Performance
NYSE URI opened at $1,038.12 on Friday. 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 $64.61 billion, a P/E ratio of 24.93, a P/E/G ratio of 1.36 and a beta of 1.80. The stock has a 50-day moving average of $1,098.25 and a two-hundred day moving average of $956.65. United Rentals, Inc. has a 1-year low of $701.59 and a 1-year high of $1,179.18.
United Rentals (NYSE:URI – Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.53 by $1.23. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The business had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter in the prior year, the company earned $10.47 earnings per share. The business’s quarterly revenue was up 11.8% on a year-over-year basis. As a group, analysts anticipate that United Rentals, Inc. will post 48.55 EPS for the current year.
United Rentals Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were issued a dividend of $1.97 per share. The ex-dividend date was Wednesday, August 12th. This represents a $7.88 dividend on an annualized basis and a yield of 0.8%. United Rentals’s dividend payout ratio is 18.92%.
Insider Transactions at United Rentals
In other United Rentals news, EVP William E. Grace sold 1,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president 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 filing with the SEC, which is available at this link. 0.47% of the stock is currently owned by company 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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