Adage Capital Partners GP L.L.C. Increases Stake in United Rentals, Inc. $URI

Key Points

• Adage Capital Partners GP L.L.C. has increased its holdings in United Rentals, Inc. by 43.9%, acquiring an additional 21,245 shares, bringing their total to approximately 69,588 shares.
• United Rentals recently reported a quarterly earnings per share (EPS) of $10.47, which missed expectations by $0.07, while their revenue reached $3.94 billion.
• The company announced a quarterly dividend of $1.79 per share, yielding 0.8%, and has set a growth forecast with a consensus target price of $842.86 from analysts.

Adage Capital Partners GP L.L.C. increased its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 43.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,588 shares of the construction company's stock after purchasing an additional 21,245 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.11% of United Rentals worth $43,611,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in United Rentals by 77,674.5% in the 1st quarter. GAMMA Investing LLC now owns 887,407 shares of the construction company's stock valued at $556,138,000 after acquiring an additional 886,266 shares during the period. Nuveen LLC bought a new position in United Rentals during the first quarter worth $402,291,000. JPMorgan Chase & Co. boosted its stake in United Rentals by 98.1% during the first quarter. JPMorgan Chase & Co. now owns 1,093,805 shares of the construction company's stock worth $685,488,000 after acquiring an additional 541,579 shares in the last quarter. Leigh Baldwin & CO. LLC bought a new position in shares of United Rentals in the fourth quarter valued at $330,989,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of United Rentals by 28.8% in the first quarter. The Manufacturers Life Insurance Company now owns 849,786 shares of the construction company's stock valued at $532,561,000 after buying an additional 190,007 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Price Performance

United Rentals stock traded down $5.77 during mid-day trading on Monday, hitting $969.46. 576,450 shares of the company traded hands, compared to its average volume of 638,696. United Rentals, Inc. has a one year low of $525.91 and a one year high of $980.53. The stock has a market cap of $62.38 billion, a price-to-earnings ratio of 25.07, a price-to-earnings-growth ratio of 2.25 and a beta of 1.72. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.80 and a current ratio of 0.86. The stock has a fifty day moving average price of $868.94 and a 200-day moving average price of $729.03.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The construction company reported $10.47 earnings per share for the quarter, missing analysts' consensus estimates of $10.54 by ($0.07). United Rentals had a return on equity of 32.01% and a net margin of 16.11%.The business had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter in the previous year, the firm posted $10.70 earnings per share. The company's revenue was up 4.5% compared to the same quarter last year. United Rentals has set its FY 2025 guidance at EPS. On average, equities analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th were given a $1.79 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 0.7%. United Rentals's dividend payout ratio is currently 18.52%.

Wall Street Analysts Forecast Growth

URI has been the topic of a number of recent research reports. Morgan Stanley raised their price objective on shares of United Rentals from $702.00 to $955.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. KeyCorp increased their target price on shares of United Rentals from $960.00 to $1,075.00 and gave the company an "overweight" rating in a report on Friday, August 29th. Citigroup restated a "buy" rating and set a $810.00 price objective (up previously from $740.00) on shares of United Rentals in a report on Tuesday, June 24th. The Goldman Sachs Group raised their price objective on shares of United Rentals from $770.00 to $850.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Finally, JPMorgan Chase & Co. raised their price objective on shares of United Rentals from $920.00 to $950.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, United Rentals currently has an average rating of "Moderate Buy" and a consensus price target of $842.86.

About United Rentals

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.