Amundi Acquires 6,763 Shares of United Rentals, Inc. $URI

Key Points

• Amundi increased its United Rentals stake by 1.8%, buying 6,763 shares to own 383,558 shares valued at approximately $279.4 million. Institutional investors collectively hold 96.26% of the company.
• United Rentals reported quarterly earnings of $12.76 per share and revenue of $4.41 billion, exceeding analyst estimates; revenue rose 11.8% year over year.
• The company declared a quarterly dividend of $1.97 per share, equivalent to a $7.88 annualized payout and a 0.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $1,226.50.

Amundi raised its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 383,558 shares of the construction company's stock after buying an additional 6,763 shares during the quarter. Amundi owned about 0.61% of United Rentals worth $279,443,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in shares of United Rentals during the 4th quarter worth about $978,017,000. Corient Private Wealth LLC raised its position in United Rentals by 1,667.4% in the fourth quarter. Corient Private Wealth LLC now owns 343,965 shares of the construction company's stock worth $278,378,000 after purchasing an additional 324,503 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in United Rentals by 3,459.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 196,688 shares of the construction company's stock worth $159,184,000 after purchasing an additional 191,162 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in United Rentals during the fourth quarter worth about $102,945,000. Finally, Victory Capital Management Inc. boosted its holdings in United Rentals by 103.7% during the fourth quarter. Victory Capital Management Inc. now owns 231,018 shares of the construction company's stock valued at $186,967,000 after purchasing an additional 117,584 shares in the last quarter. 96.26% of the stock is owned by institutional investors.

United Rentals Stock Performance

Shares of United Rentals stock opened at $1,069.23 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.70. The firm has a 50 day simple moving average of $1,064.93 and a 200 day simple moving average of $924.30. United Rentals, Inc. has a fifty-two week low of $701.59 and a fifty-two week high of $1,177.67. The firm has a market cap of $66.55 billion, a P/E ratio of 25.68, a P/E/G ratio of 1.37 and a beta of 1.79.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 EPS 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 analyst estimates of $4.22 billion. During the same period last year, the company earned $10.47 EPS. The business's quarterly revenue was up 11.8% compared to the same quarter last year. Sell-side analysts predict that United Rentals, Inc. will post 48.35 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be issued a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, August 12th. United Rentals's payout ratio is currently 18.92%.

Insider Activity

In related news, EVP William E. Grace sold 1,500 shares of the business's 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 directly owned 6,062 shares of the company's stock, valued at $6,869,155.30. The trade was a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on URI. Citigroup increased their target price on United Rentals from $1,270.00 to $1,330.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Wall Street Zen upgraded United Rentals from a "hold" rating to a "buy" rating in a research note on Saturday, July 25th. Evercore reaffirmed an "outperform" rating and issued a $1,101.00 target price on shares of United Rentals in a report on Monday, May 11th. UBS Group increased their target price on shares of United Rentals from $1,300.00 to $1,350.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Finally, Sanford C. Bernstein set a $903.00 price target on shares of United Rentals and gave the company an "outperform" rating in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $1,226.50.

United Rentals Profile

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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