Plato Investment Management Ltd purchased a new stake in United Rentals, Inc. (NYSE:URI - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,651 shares of the construction company's stock, valued at approximately $1,859,000.
Several other hedge funds have also recently bought and sold shares of URI. Bell Investment Advisors Inc bought a new position in shares of United Rentals during the second quarter worth approximately $40,000. AMG National Trust Bank bought a new stake in United Rentals in the 2nd quarter valued at $2,142,000. Roman Butler Fullerton & Co. acquired a new position in United Rentals in the 2nd quarter valued at $1,759,000. Simplicity Wealth LLC acquired a new position in United Rentals in the 2nd quarter valued at $403,000. Finally, Wealth Effects LLC bought a new position in United Rentals during the 2nd quarter worth $3,335,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.
United Rentals Stock Performance
NYSE:URI opened at $1,166.11 on Tuesday. The company has a market cap of $72.58 billion, a price-to-earnings ratio of 28.00, a PEG ratio of 1.49 and a beta of 1.80. United Rentals, Inc. has a fifty-two week low of $701.59 and a fifty-two week high of $1,179.18. 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 stock has a fifty day moving average price of $1,096.63 and a 200-day moving average price of $942.44.
United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, topping analysts' consensus estimates of $11.53 by $1.23. The company had revenue of $4.41 billion for the quarter, compared to analysts' expectations of $4.22 billion. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.United Rentals's revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the business earned $10.47 earnings per share. As a group, equities analysts anticipate that United Rentals, Inc. will post 48.55 EPS for the current fiscal year.
United Rentals Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be paid a dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Wednesday, August 12th. United Rentals's dividend payout ratio is presently 18.92%.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on URI. KeyCorp reissued an "overweight" rating and set a $1,350.00 target price on shares of United Rentals in a report on Friday, July 24th. Raymond James Financial restated an "outperform" rating and issued a $1,275.00 price target on shares of United Rentals in a research note on Wednesday, June 10th. Wall Street Zen raised shares of United Rentals from a "hold" rating to a "buy" rating in a research report on Saturday, July 25th. Wells Fargo & Company boosted their price objective on shares of United Rentals from $1,245.00 to $1,355.00 and gave the company an "overweight" rating in a report on Friday, July 24th. Finally, Truist Financial boosted their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $1,246.19.
Read Our Latest Stock Report on URI
Insider Buying and Selling
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 shares were 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 directly 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.47% of the stock is currently owned by corporate insiders.
About United Rentals
(
Free Report)
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.
Further Reading
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