EFG International AG bought a new stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 61,303 shares of the construction company's stock, valued at approximately $69,476,000. United Rentals comprises about 1.3% of EFG International AG's holdings, making the stock its 17th biggest position. EFG International AG owned about 0.10% of United Rentals at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Core Wealth Advisors LLC acquired a new stake in shares of United Rentals during the fourth quarter valued at $28,000. MV Capital Management Inc. acquired a new position in United Rentals in the 4th quarter valued at about $28,000. Clal Insurance Enterprises Holdings Ltd acquired a new position in United Rentals in the 2nd quarter valued at about $29,000. MidFirst Bank purchased a new position in United Rentals in the 2nd quarter valued at about $31,000. Finally, Laurel Wealth Advisors LLC purchased a new position in United Rentals in the 4th quarter valued at about $32,000. 96.26% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at United Rentals
In related news, EVP William E. Grace sold 1,500 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 6,062 shares of the company's stock, valued at approximately $6,869,155.30. This represents a 19.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.47% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently commented on URI. KeyCorp reiterated an "overweight" rating and set a $1,350.00 price target on shares of United Rentals in a report on Friday, July 24th. Zacks Research raised shares of United Rentals from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Wall Street Zen upgraded shares of United Rentals from a "hold" rating to a "buy" rating in a research report on Saturday, July 25th. Wells Fargo & Company lifted their target price on shares of 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. Finally, JPMorgan Chase & Co. boosted their price target on United Rentals from $1,100.00 to $1,235.00 and gave the company an "overweight" rating in a report on Friday, July 24th. One investment 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, United Rentals has an average rating of "Moderate Buy" and an average price target of $1,246.19.
Read Our Latest Stock Report on URI
United Rentals Stock Down 2.9%
Shares of NYSE URI opened at $1,052.07 on Wednesday. The stock has a market capitalization of $65.48 billion, a PE ratio of 25.27, a P/E/G ratio of 1.40 and a beta of 1.80. 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 fifty day moving average of $1,098.88 and a 200-day moving average of $954.20. United Rentals, Inc. has a 52-week low of $701.59 and a 52-week high of $1,179.18.
United Rentals (NYSE:URI - Get Free Report) last issued its earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, beating 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 firm had revenue of $4.41 billion for 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 revenue for the quarter was up 11.8% compared to the same quarter last year. On average, analysts anticipate that United Rentals, Inc. will post 48.55 EPS for the current year.
United Rentals Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be issued a dividend of $1.97 per share. The ex-dividend date is Wednesday, August 12th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. United Rentals's payout ratio is presently 18.92%.
United Rentals Profile
(
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.
See Also
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