Jackson Wealth Management LLC trimmed its holdings in United Rentals, Inc. (NYSE:URI – Free Report) by 90.4% during the second quarter, Holdings Channel reports. The institutional investor owned 831 shares of the construction company’s stock after selling 7,840 shares during the quarter. Jackson Wealth Management LLC’s holdings in United Rentals were worth $941,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in URI. PFG Investments LLC raised its holdings in shares of United Rentals by 0.9% in the 1st quarter. PFG Investments LLC now owns 1,172 shares of the construction company’s stock worth $854,000 after acquiring an additional 11 shares during the last quarter. CoreCap Advisors LLC increased its holdings in United Rentals by 16.9% during the 2nd quarter. CoreCap Advisors LLC now owns 76 shares of the construction company’s stock worth $86,000 after purchasing an additional 11 shares in the last quarter. Great Valley Advisor Group Inc. increased its holdings 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 worth $292,000 after purchasing an additional 11 shares in the last quarter. Legacy Financial Advisors Inc. raised its stake in shares of United Rentals by 3.9% in the fourth quarter. Legacy Financial Advisors Inc. now owns 322 shares of the construction company’s stock worth $260,000 after purchasing an additional 12 shares during the last quarter. Finally, Moss Adams Wealth Advisors LLC lifted its holdings in shares of United Rentals by 2.0% in the first quarter. Moss Adams Wealth Advisors LLC now owns 605 shares of the construction company’s stock valued at $441,000 after purchasing an additional 12 shares in the last quarter. 96.26% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on URI shares. JPMorgan Chase & Co. upped their price target on United Rentals from $1,100.00 to $1,235.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Citigroup raised their price target on shares of United Rentals from $1,270.00 to $1,330.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Wells Fargo & Company boosted their price target on shares of United Rentals from $1,245.00 to $1,355.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Raymond James Financial reaffirmed an “outperform” rating and issued a $1,275.00 price objective on shares of United Rentals in a research report on Wednesday, June 10th. Finally, Wall Street Zen raised United Rentals from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,246.19.
United Rentals Stock Up 0.9%
United Rentals stock opened at $1,039.25 on Tuesday. The firm has a market capitalization of $64.68 billion, a price-to-earnings ratio of 24.96, a P/E/G ratio of 1.33 and a beta of 1.80. United Rentals, Inc. has a 1-year low of $701.59 and a 1-year high of $1,179.18. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38. The firm has a 50 day simple moving average of $1,096.24 and a 200 day simple moving average of $958.89.
United Rentals (NYSE:URI – Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $4.22 billion. During the same quarter in the prior year, the firm posted $10.47 EPS. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. On average, analysts predict that United Rentals, Inc. will post 48.55 earnings per share for the current year.
United Rentals Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were issued a $1.97 dividend. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $7.88 annualized dividend and a dividend yield of 0.8%. United Rentals’s dividend payout ratio is presently 18.92%.
Insider Buying and Selling at United Rentals
In other United Rentals news, EVP William E. Grace sold 1,500 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president owned 6,062 shares of the company’s stock, valued at $6,869,155.30. This trade represents a 19.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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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