Advisors Capital Management LLC purchased a new position in United Rentals, Inc. (NYSE:URI - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 32,182 shares of the construction company's stock, valued at approximately $36,459,000. Advisors Capital Management LLC owned approximately 0.05% of United Rentals as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of United Rentals during the second quarter valued at $5,816,326,000. Capital World Investors grew its position in United Rentals by 1.1% during the 4th quarter. Capital World Investors now owns 2,708,877 shares of the construction company's stock valued at $2,192,357,000 after purchasing an additional 30,263 shares during the last quarter. Franklin Resources Inc. increased its stake in United Rentals by 2.2% during the 4th quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company's stock valued at $1,087,711,000 after purchasing an additional 28,895 shares in the last quarter. Norges Bank purchased a new position in United Rentals in the fourth quarter worth about $978,017,000. Finally, Bank of America Corp DE raised its holdings in United Rentals by 14.7% in the first quarter. Bank of America Corp DE now owns 806,380 shares of the construction company's stock worth $587,496,000 after buying an additional 103,371 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company's stock.
Analyst Upgrades and Downgrades
URI has been the subject of several analyst reports. Robert W. Baird set a $1,300.00 price target on shares of United Rentals in a research report on Friday, July 24th. Evercore reaffirmed an "outperform" rating and issued a $1,101.00 price objective on shares of United Rentals in a research report on Monday, May 11th. Bank of America increased their target price on United Rentals from $1,195.00 to $1,300.00 and gave the company a "buy" rating in a research note on Thursday, July 23rd. 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. Finally, Morgan Stanley set a $1,335.00 price target on United Rentals 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 issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $1,246.19.
Get Our Latest Report on United Rentals
Insider Buying and Selling at United Rentals
In other news, EVP William E. Grace sold 1,500 shares of the company's stock in a transaction on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the completion of the sale, the executive vice president directly owned 6,062 shares in the company, valued at $6,869,155.30. This represents a 19.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.47% of the stock is owned by corporate insiders.
United Rentals Trading Down 2.0%
Shares of NYSE:URI opened at $1,094.54 on Friday. The stock has a market capitalization of $68.12 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 1.44 and a beta of 1.80. 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's 50-day simple moving average is $1,098.84 and its two-hundred day simple moving average is $948.49. 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 released its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, beating the consensus estimate of $11.53 by $1.23. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The firm had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the prior year, the firm earned $10.47 EPS. The business's revenue for the quarter was up 11.8% compared to the same quarter last year. Analysts expect that United Rentals, Inc. will post 48.55 EPS for the current year.
United Rentals Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be given a $1.97 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $7.88 annualized dividend and a yield of 0.7%. United Rentals's dividend payout ratio (DPR) 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.
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