Addenda Capital Inc. Purchases New Shares in United Rentals, Inc. $URI

Key Points

• Addenda Capital Inc. acquired 9,450 shares of United Rentals, worth approximately $7.12 million, during the second quarter, highlighting increasing institutional interest in the stock.
• United Rentals reported earnings of $10.47 EPS for the most recent quarter, falling short of expectations, but saw a revenue increase of 4.5% year-over-year.
• The company issued a quarterly dividend of $1.79, yielding 0.8% annually, and has a dividend payout ratio of 18.52%.

Addenda Capital Inc. bought a new position in shares of United Rentals, Inc. (NYSE:URI - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 9,450 shares of the construction company's stock, valued at approximately $7,120,000.

Other large investors have also recently bought and sold shares of the company. TruNorth Capital Management LLC grew its position in shares of United Rentals by 1,266.7% during the 1st quarter. TruNorth Capital Management LLC now owns 41 shares of the construction company's stock worth $26,000 after buying an additional 38 shares during the period. Fourth Dimension Wealth LLC acquired a new stake in United Rentals during the 1st quarter worth $26,000. Maseco LLP bought a new stake in shares of United Rentals during the 2nd quarter valued at $32,000. Flaharty Asset Management LLC acquired a new position in shares of United Rentals in the 1st quarter valued at $30,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of United Rentals by 69.0% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 49 shares of the construction company's stock worth $31,000 after purchasing an additional 20 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company's stock.

United Rentals Stock Performance

Shares of NYSE URI opened at $947.47 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.86 and a quick ratio of 0.80. The firm has a market cap of $60.96 billion, a price-to-earnings ratio of 24.50, a P/E/G ratio of 2.19 and a beta of 1.72. The stock's fifty day moving average price is $913.99 and its two-hundred day moving average price is $761.68. United Rentals, Inc. has a one year low of $525.91 and a one year high of $980.53.

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

United Rentals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th were given a $1.79 dividend. The ex-dividend date was Wednesday, August 13th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 0.8%. United Rentals's dividend payout ratio (DPR) is presently 18.52%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on URI shares. JPMorgan Chase & Co. raised their target price on United Rentals from $1,000.00 to $1,150.00 and gave the stock an "overweight" rating in a report on Monday, September 22nd. Argus set a $935.00 price target on shares of United Rentals in a research report on Tuesday, August 12th. Sanford C. Bernstein set a $1,128.00 target price on United Rentals and gave the company an "outperform" rating in a research note on Tuesday, September 23rd. Morgan Stanley boosted their price objective on United Rentals from $702.00 to $955.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Finally, BNP Paribas set a $900.00 target price on shares of United Rentals and gave the stock a "neutral" rating in a report on Tuesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $911.06.

United Rentals Profile

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.

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