Allstate Corp Sells 561 Shares of United Rentals, Inc. $URI

Key Points

• Allstate Corp reduced its stake in United Rentals, Inc. by 28.7% during the first quarter, now holding 1,394 shares valued at approximately $874,000.
• Several institutional investors increased their positions in United Rentals, with Cary Street Partners posting the largest increase of 27.5% in the first quarter.
• United Rentals reported a quarterly earnings miss, with EPS at $10.47, slightly below estimates, but revenue for the quarter was up 4.5% year-over-year at $3.94 billion.

Allstate Corp lessened its position in United Rentals, Inc. (NYSE:URI - Free Report) by 28.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,394 shares of the construction company's stock after selling 561 shares during the period. Allstate Corp's holdings in United Rentals were worth $874,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of URI. Centaurus Financial Inc. grew its position in United Rentals by 1.7% in the 4th quarter. Centaurus Financial Inc. now owns 999 shares of the construction company's stock valued at $704,000 after purchasing an additional 17 shares during the period. Leavell Investment Management Inc. grew its holdings in shares of United Rentals by 3.6% during the first quarter. Leavell Investment Management Inc. now owns 515 shares of the construction company's stock valued at $323,000 after buying an additional 18 shares during the last quarter. Baer Investment Advisory LLC grew its holdings in shares of United Rentals by 0.6% during the first quarter. Baer Investment Advisory LLC now owns 3,202 shares of the construction company's stock valued at $2,007,000 after buying an additional 18 shares during the last quarter. HBK Sorce Advisory LLC increased its position in shares of United Rentals by 4.0% during the first quarter. HBK Sorce Advisory LLC now owns 490 shares of the construction company's stock worth $307,000 after acquiring an additional 19 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its position in shares of United Rentals by 27.5% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 88 shares of the construction company's stock worth $55,000 after acquiring an additional 19 shares in the last quarter. Institutional investors own 96.26% of the company's stock.

United Rentals Stock Performance

NYSE URI opened at $929.7890 on Monday. The firm has a market cap of $59.82 billion, a P/E ratio of 24.04, a price-to-earnings-growth ratio of 2.15 and a beta of 1.72. The company's 50 day moving average is $821.49 and its 200-day moving average is $713.38. United Rentals, Inc. has a 12-month low of $525.91 and a 12-month high of $937.45. The company has a quick ratio of 0.80, a current ratio of 0.86 and a debt-to-equity ratio of 1.34.

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

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th will be issued a $1.79 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $7.16 annualized dividend and a dividend yield of 0.8%. United Rentals's payout ratio is currently 18.52%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on URI shares. Citigroup reiterated a "buy" rating and set a $810.00 price target (up previously from $740.00) on shares of United Rentals in a research note on Tuesday, June 24th. Barclays raised their target price on United Rentals from $565.00 to $620.00 and gave the company an "underweight" rating in a report on Monday, July 21st. KeyCorp upped their price target on United Rentals from $865.00 to $960.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. UBS Group increased their price target on United Rentals from $780.00 to $835.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Finally, Evercore ISI reaffirmed an "outperform" rating on shares of United Rentals in a report on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $834.64.

United Rentals Company 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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