1,011 Shares in United Rentals, Inc. $URI Acquired by Archer Investment Corp

Key Points

• Archer Investment Corp acquired 1,011 United Rentals shares worth approximately $1.15 million in the second quarter. Institutional investors collectively own 96.26% of URI, with BlackRock also establishing a major position.
• United Rentals exceeded quarterly expectations, reporting $12.76 in EPS and $4.41 billion in revenue, up 11.8% year over year. The company also paid a quarterly dividend of $1.97 per share, representing a 0.8% annualized yield.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $1,246.19, above the stock’s reported opening price of $1,030.64.

Archer Investment Corp acquired a new stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,011 shares of the construction company's stock, valued at approximately $1,146,000.

A number of other institutional investors have also recently added to or reduced their stakes in URI. BlackRock Inc. acquired a new stake in shares of United Rentals in the second quarter valued at approximately $5,816,326,000. Capital World Investors boosted its position in shares of United Rentals by 1.1% during the fourth quarter. Capital World Investors now owns 2,708,877 shares of the construction company's stock worth $2,192,357,000 after buying an additional 30,263 shares during the period. Franklin Resources Inc. grew its holdings in United Rentals by 2.2% in the 4th quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company's stock worth $1,087,711,000 after buying an additional 28,895 shares in the last quarter. Norges Bank bought a new position in United Rentals in the 4th quarter worth approximately $978,017,000. Finally, Bank of America Corp DE acquired a new stake in United Rentals in the 2nd quarter valued at approximately $944,196,000. 96.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other United Rentals news, EVP William E. Grace sold 1,500 shares of the business's stock in a transaction on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the sale, the executive vice president directly owned 6,062 shares of the company's stock, valued at $6,869,155.30. The trade was a 19.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.47% of the company's stock.

United Rentals Price Performance

NYSE URI opened at $1,030.64 on Friday. United Rentals, Inc. has a 1 year low of $701.59 and a 1 year high of $1,179.18. The business's fifty day moving average is $1,097.31 and its two-hundred day moving average is $957.16. The stock has a market capitalization of $64.15 billion, a P/E ratio of 24.75, a P/E/G ratio of 1.34 and a beta of 1.80. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.70 and a current ratio of 0.76.

United Rentals (NYSE:URI - Get Free Report) last announced its earnings results 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 company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same period in the previous year, the firm earned $10.47 earnings per share. United Rentals's revenue for the quarter was up 11.8% compared to the same quarter last year. On average, research analysts forecast that United Rentals, Inc. will post 48.55 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were given a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a yield of 0.8%. The ex-dividend date was Wednesday, August 12th. United Rentals's payout ratio is presently 18.92%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on URI shares. KeyCorp reaffirmed an "overweight" rating and issued a $1,350.00 price objective on shares of United Rentals in a report on Friday, July 24th. Citigroup raised their target price on shares of United Rentals from $1,270.00 to $1,330.00 and gave the company a "buy" rating in a research note on Friday, July 24th. JPMorgan Chase & Co. upped 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 research note on Friday, July 24th. BNP Paribas Exane upgraded shares of United Rentals from a "neutral" rating to an "outperform" rating and set a $1,320.00 price objective for the company in a report on Monday, June 29th. Finally, Weiss Ratings upgraded shares of United Rentals from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,246.19.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source