3,990 Shares in United Rentals, Inc. $URI Acquired by NewEdge Wealth LLC

Key Points

• NewEdge Wealth acquired 3,990 shares of United Rentals during the second quarter, valued at approximately $4.52 million. Institutional investors collectively own 96.26% of the company.
• Analysts remain broadly positive, with a “Moderate Buy” consensus rating and an average price target of $1,246.19. Recent targets ranged from $950 to $1,466.
• United Rentals exceeded quarterly expectations, reporting $12.76 in adjusted EPS and $4.41 billion in revenue, up 11.8% year over year. The company also declared a $1.97 quarterly dividend, representing a 0.7% yield.

NewEdge Wealth LLC acquired a new stake in United Rentals, Inc. (NYSE:URI - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,990 shares of the construction company's stock, valued at approximately $4,520,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Woodline Partners LP lifted its stake in shares of United Rentals by 40.0% in the first quarter. Woodline Partners LP now owns 5,518 shares of the construction company's stock worth $3,458,000 after buying an additional 1,577 shares in the last quarter. Sei Investments Co. grew its stake in United Rentals by 24.7% during the 2nd quarter. Sei Investments Co. now owns 27,136 shares of the construction company's stock valued at $20,444,000 after acquiring an additional 5,375 shares in the last quarter. Treasurer of the State of North Carolina grew its stake in United Rentals by 43.6% during the 2nd quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company's stock valued at $42,233,000 after acquiring an additional 17,030 shares in the last quarter. HUB Investment Partners LLC raised its holdings in United Rentals by 11.3% in the 2nd quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company's stock valued at $1,661,000 after acquiring an additional 223 shares during the last quarter. Finally, Diversify Advisory Services LLC raised its holdings in United Rentals by 338.7% in the 2nd quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company's stock valued at $1,246,000 after acquiring an additional 1,277 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company's stock.

Insider Transactions at United Rentals

In related news, EVP William E. Grace sold 1,500 shares of the business'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 sale, the executive vice president directly owned 6,062 shares in the company, valued at approximately $6,869,155.30. The trade was a 19.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.47% of the company's stock.

Analysts Set New Price Targets

URI has been the topic of a number of research reports. Royal Bank Of Canada raised 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. Truist Financial upped their price target on United Rentals from $1,421.00 to $1,466.00 and gave the company a "buy" rating in a research report on Friday, July 24th. BNP Paribas Exane raised United Rentals from a "neutral" rating to an "outperform" rating and set a $1,320.00 price target for the company in a report on Monday, June 29th. Barclays lifted their price objective on United Rentals from $715.00 to $950.00 and gave the stock an "underweight" rating in a research report on Friday, July 24th. Finally, Wells Fargo & Company boosted their price objective on United Rentals from $1,245.00 to $1,355.00 and gave the stock an "overweight" rating in a research note 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 issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $1,246.19.

United Rentals Trading Down 0.0%

Shares of United Rentals stock opened at $1,116.17 on Thursday. The firm has a market capitalization of $69.47 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 1.44 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 50 day moving average of $1,098.29 and a 200 day moving average of $946.28.

United Rentals (NYSE:URI - Get Free Report) last posted its earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.41 billion during the quarter, compared to analysts' expectations of $4.22 billion. During the same quarter last year, the firm earned $10.47 earnings per share. The firm's quarterly revenue was up 11.8% compared to the same quarter last year. As a group, research analysts predict that United Rentals, Inc. will post 48.55 earnings per share for the current year.

United Rentals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be given a dividend of $1.97 per share. 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 dividend payout ratio (DPR) is presently 18.92%.

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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