UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in United Rentals, Inc. (NYSE:URI – Free Report) by 15.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 539,121 shares of the construction company’s stock after acquiring an additional 74,008 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.87% of United Rentals worth $610,765,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Core Wealth Advisors LLC acquired a new stake in United Rentals during the 4th quarter worth approximately $28,000. MV Capital Management Inc. acquired a new stake in shares of United Rentals during the fourth quarter worth $28,000. Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of United Rentals during the second quarter worth $29,000. MidFirst Bank bought a new stake in United Rentals in the 2nd quarter valued at $31,000. Finally, Hilton Head Capital Partners LLC acquired a new position in United Rentals in the 4th quarter worth $34,000. Institutional investors own 96.26% of the company’s stock.
United Rentals Stock Performance
Shares of NYSE URI opened at $1,030.64 on Monday. The stock has a 50 day moving average price of $1,097.31 and a 200 day moving average price of $957.73. United Rentals, Inc. has a 52 week low of $701.59 and a 52 week high of $1,179.18. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.70 and a current ratio of 0.76. The stock has a market capitalization of $64.15 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 1.33 and a beta of 1.80.
United Rentals Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were issued a dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Wednesday, August 12th. United Rentals’s payout ratio is presently 18.92%.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on URI. Truist Financial increased their target price on United Rentals from $1,421.00 to $1,466.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Wells Fargo & Company lifted 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. Evercore reaffirmed an “outperform” rating and set a $1,101.00 price target on shares of United Rentals in a research report on Monday, May 11th. Raymond James Financial reaffirmed an “outperform” rating and set a $1,275.00 price target on shares of United Rentals in a research note on Wednesday, June 10th. Finally, Barclays boosted their price objective on shares of United Rentals from $715.00 to $950.00 and gave the stock an “underweight” rating in a research report on Friday, July 24th. One equities research 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,246.19.
Get Our Latest Analysis on United Rentals
Insider Transactions at United Rentals
In other United Rentals news, EVP William E. Grace sold 1,500 shares of the company’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 sale, the executive vice president directly owned 6,062 shares of the company’s stock, valued at approximately $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. Company insiders own 0.47% of the company’s stock.
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.
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