RB Capital Management LLC acquired a new position in shares of United Rentals, Inc. (NYSE:URI – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,935 shares of the construction company’s stock, valued at approximately $3,326,000.
A number of other large investors also recently modified their holdings of the stock. PFG Investments LLC grew its holdings in United Rentals by 0.9% during the first quarter. PFG Investments LLC now owns 1,172 shares of the construction company’s stock worth $854,000 after buying an additional 11 shares in the last quarter. CoreCap Advisors LLC lifted its stake in United Rentals by 16.9% during the 2nd quarter. CoreCap Advisors LLC now owns 76 shares of the construction company’s stock valued at $86,000 after acquiring an additional 11 shares in the last quarter. Great Valley Advisor Group Inc. lifted its stake in United Rentals by 2.9% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock valued at $292,000 after acquiring an additional 11 shares in the last quarter. Legacy Financial Advisors Inc. boosted its holdings in United Rentals by 3.9% during the 4th quarter. Legacy Financial Advisors Inc. now owns 322 shares of the construction company’s stock worth $260,000 after acquiring an additional 12 shares during the last quarter. Finally, Moss Adams Wealth Advisors LLC boosted its holdings in United Rentals by 2.0% during the 1st quarter. Moss Adams Wealth Advisors LLC now owns 605 shares of the construction company’s stock worth $441,000 after acquiring an additional 12 shares during the last quarter. Institutional investors own 96.26% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently commented on URI shares. Truist Financial increased their target price on shares of United Rentals from $1,421.00 to $1,466.00 and gave the company a “buy” rating in a report on Friday, July 24th. Argus reaffirmed a “buy” rating and issued a $1,250.00 price objective on shares of United Rentals in a research report on Tuesday, August 4th. JPMorgan Chase & Co. increased their price objective on shares of United Rentals from $1,100.00 to $1,235.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Bank of America lifted their target price on shares of United Rentals from $1,195.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Finally, Wells Fargo & Company upped their target price on United Rentals from $1,245.00 to $1,355.00 and gave the company an “overweight” rating in a 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 given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,246.19.
Insider Activity at United Rentals
In other news, EVP William E. Grace sold 1,500 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.47% of the stock is owned by corporate insiders.
United Rentals Trading Down 0.7%
Shares of URI stock opened at $1,030.64 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38. The firm has a market cap of $64.15 billion, a P/E ratio of 24.75, a PEG ratio of 1.34 and a beta of 1.80. The company has a 50 day moving average of $1,097.31 and a 200-day moving average of $957.16. United Rentals, Inc. has a 12-month low of $701.59 and a 12-month high of $1,179.18.
United Rentals (NYSE:URI – Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, beating the consensus estimate of $11.53 by $1.23. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The business had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter in the prior year, the business earned $10.47 earnings per share. United Rentals’s revenue for the quarter was up 11.8% on a year-over-year basis. Sell-side analysts anticipate that United Rentals, Inc. will post 48.55 earnings per share for the current year.
United Rentals Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were paid a $1.97 dividend. The ex-dividend date was Wednesday, August 12th. This represents a $7.88 annualized dividend and a dividend yield of 0.8%. United Rentals’s payout ratio is presently 18.92%.
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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