Fifth Third Bancorp lifted its position in United Rentals, Inc. (NYSE:URI – Free Report) by 374.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,360 shares of the construction company’s stock after buying an additional 14,492 shares during the period. Fifth Third Bancorp’s holdings in United Rentals were worth $13,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently modified their holdings of URI. Candriam S.C.A. boosted its position in United Rentals by 6.9% in the first quarter. Candriam S.C.A. now owns 10,992 shares of the construction company’s stock worth $8,008,000 after purchasing an additional 711 shares during the last quarter. Stiles Financial Services Inc grew its position in United Rentals by 43.8% during the first quarter. Stiles Financial Services Inc now owns 2,569 shares of the construction company’s stock valued at $1,872,000 after buying an additional 782 shares during the period. Roman Butler Fullerton & Co. grew its position in United Rentals by 23.6% during the first quarter. Roman Butler Fullerton & Co. now owns 1,569 shares of the construction company’s stock valued at $1,194,000 after buying an additional 300 shares during the period. Kestra Advisory Services LLC increased its holdings in United Rentals by 5.8% during the first quarter. Kestra Advisory Services LLC now owns 7,298 shares of the construction company’s stock valued at $5,317,000 after buying an additional 398 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV increased its holdings in United Rentals by 2.7% during the first quarter. Azzad Asset Management Inc. ADV now owns 1,985 shares of the construction company’s stock valued at $1,446,000 after buying an additional 53 shares during the last quarter. Institutional investors own 96.26% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on URI. Morgan Stanley reiterated an “overweight” rating and set a $1,030.00 price target on shares of United Rentals in a research note on Friday, April 24th. Weiss Ratings lowered United Rentals from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. Bank of America raised their target price on United Rentals from $1,020.00 to $1,195.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. BNP Paribas Exane upgraded United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 target price on the stock in a research report on Monday, June 29th. Finally, Truist Financial boosted their price target on United Rentals from $1,209.00 to $1,421.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Fourteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,131.56.
United Rentals Price Performance
NYSE:URI opened at $1,064.77 on Wednesday. The business’s 50-day simple moving average is $1,034.86 and its two-hundred day simple moving average is $906.18. United Rentals, Inc. has a 52 week low of $701.59 and a 52 week high of $1,143.69. The stock has a market cap of $66.71 billion, a PE ratio of 27.16, a P/E/G ratio of 1.74 and a beta of 1.79. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.37.
United Rentals (NYSE:URI – Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The business had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.20 billion. During the same period last year, the company earned $8.86 EPS. The business’s revenue was up 7.2% on a year-over-year basis. As a group, analysts forecast that United Rentals, Inc. will post 46.7 EPS for the current fiscal year.
United Rentals Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were given a dividend of $1.97 per share. The ex-dividend date was Wednesday, May 13th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. United Rentals’s dividend payout ratio is currently 20.10%.
Insider Activity at United Rentals
In other news, SVP Joli L. Gross sold 306 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $954.99, for a total transaction of $292,226.94. Following the completion of the transaction, the senior vice president owned 5,738 shares in the company, valued at $5,479,732.62. This trade represents a 5.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Andrew B. Limoges sold 548 shares of United Rentals stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $977.86, for a total value of $535,867.28. Following the completion of the sale, the vice president directly owned 1,865 shares in the company, valued at $1,823,708.90. This trade represents a 22.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 26,088 shares of company stock valued at $25,628,877. 0.47% of the stock is currently owned by insiders.
United Rentals 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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