Redhawk Wealth Advisors Inc. purchased a new stake in shares of United Rentals, Inc. (NYSE:URI – Free Report) in the second quarter, Holdings Channel.com reports. The firm purchased 1,917 shares of the construction company’s stock, valued at approximately $2,171,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Core Wealth Advisors LLC bought a new position in shares of United Rentals in the fourth quarter valued at approximately $28,000. MV Capital Management Inc. purchased a new position in shares of United Rentals during the fourth quarter valued at approximately $28,000. Laurel Wealth Advisors LLC bought a new stake in United Rentals during the fourth quarter worth $32,000. Hilton Head Capital Partners LLC bought a new stake in United Rentals during the fourth quarter worth $34,000. Finally, Frazier Financial Advisors LLC raised its position in United Rentals by 33.3% in the 1st quarter. Frazier Financial Advisors LLC now owns 56 shares of the construction company’s stock valued at $41,000 after buying an additional 14 shares during the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.
United Rentals Stock Performance
NYSE URI opened at $1,136.27 on Tuesday. United Rentals, Inc. has a 52-week low of $701.59 and a 52-week high of $1,179.18. The company has a 50-day simple moving average of $1,088.09 and a 200 day simple moving average of $934.79. 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 company has a market capitalization of $70.72 billion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 1.50 and a beta of 1.80.
United Rentals Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be issued a $1.97 dividend. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, August 12th. United Rentals’s payout ratio is 18.92%.
Insider Activity at United Rentals
In related news, EVP William E. Grace sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the transaction, the executive vice president owned 6,062 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.47% of the company’s stock.
Wall Street Analyst Weigh In
URI has been the topic of several recent analyst reports. Weiss Ratings upgraded United Rentals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 23rd. Royal Bank Of Canada upped their target price on shares of United Rentals from $1,041.00 to $1,119.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. UBS Group increased their target price on shares of United Rentals from $1,300.00 to $1,350.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Morgan Stanley set a $1,335.00 price target on shares of United Rentals and gave the company an “overweight” rating in a research report on Friday, July 24th. Finally, JPMorgan Chase & Co. boosted their price target on shares of United Rentals from $1,100.00 to $1,235.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, United Rentals has an average rating of “Moderate Buy” and an average price target of $1,246.19.
Read Our Latest Analysis on United Rentals
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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