Provenance Wealth Advisors LLC raised its stake in United Rentals, Inc. (NYSE:URI – Free Report) by 607.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,457 shares of the construction company’s stock after acquiring an additional 1,251 shares during the period. Provenance Wealth Advisors LLC’s holdings in United Rentals were worth $1,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently made changes to their positions in URI. BlackRock Inc. purchased a new stake in shares of United Rentals in the 2nd quarter valued at about $5,816,326,000. State Street Corp boosted its position in shares of United Rentals by 1.1% in the 2nd quarter. State Street Corp now owns 2,993,837 shares of the construction company’s stock valued at $3,391,688,000 after purchasing an additional 32,238 shares during the period. International Assets Investment Management LLC boosted its position in shares of United Rentals by 88,861.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,499,000 shares of the construction company’s stock valued at $1,545,000 after purchasing an additional 1,497,315 shares during the period. Bank of America Corp DE purchased a new position in United Rentals during the 2nd quarter worth approximately $944,196,000. Finally, The Manufacturers Life Insurance Company purchased a new position in United Rentals during the 2nd quarter worth approximately $716,129,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.
United Rentals Stock Performance
Shares of URI stock opened at $1,173.72 on Wednesday. The stock’s 50-day moving average price is $1,052.53 and its 200 day moving average price is $973.16. The company has a quick ratio of 0.73, a current ratio of 0.80 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $72.68 billion, a PE ratio of 25.80, a price-to-earnings-growth ratio of 1.65 and a beta of 1.82. United Rentals, Inc. has a 52-week low of $701.59 and a 52-week high of $1,202.12.
United Rentals (NYSE:URI – Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The construction company reported $15.55 earnings per share for the quarter, topping analysts’ consensus estimates of $13.97 by $1.58. United Rentals had a return on equity of 33.47% and a net margin of 16.33%. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.71 billion. During the same period last year, the firm earned $11.70 EPS. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. As a group, equities research analysts forecast that United Rentals, Inc. will post 51.17 EPS for the current year.
United Rentals Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Wednesday, November 11th will be paid a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, November 10th. United Rentals’s dividend payout ratio is 17.32%.
Analyst Upgrades and Downgrades
Several research analysts have commented on the company. Wells Fargo & Company lifted their price target on United Rentals from $1,245.00 to $1,355.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. KeyCorp restated an “overweight” rating on shares of United Rentals in a research report on Friday, October 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of United Rentals in a report on Wednesday, October 21st. Zacks Research upgraded shares of United Rentals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 22nd. Finally, JPMorgan Chase & Co. cut shares of United Rentals from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $1,235.00 to $1,170.00 in a research note on Thursday, September 10th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, United Rentals has an average rating of “Moderate Buy” and a consensus price target of $1,292.88.
Check Out Our Latest Stock Report on United Rentals
About United Rentals
United Rentals, Inc is an equipment rental company serving construction, industrial, infrastructure, utilities, government and other commercial customers. The company provides access to equipment and related services through a network of rental locations, helping customers manage projects without purchasing and maintaining all of the equipment they need.
Its rental fleet includes aerial work platforms, earthmoving equipment, material-handling equipment, general construction tools, trucks and trailers, and light-duty equipment.
Read More
- Five stocks we like better than United Rentals
- Marriott’s Earnings Beat Shows Why It’s More Than a Bet on Travel Demand
- Franklin Templeton’s New ETFs Turn Stock Dividends Into Bitcoin—What’s the Catch?
- Apple’s Earnings Beat Comes With a Catch for Investors Heading Into the Holidays
- Palantir’s $2.3 Billion Quarter Puts Its Premium Valuation to the Test
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.
