AQR Capital Management LLC Sells 740 Shares of United Rentals, Inc. $URI

Key Points

• AQR Capital Management LLC has reduced its stake in United Rentals, Inc. by 2.5%, selling 740 shares, bringing its total holdings to 29,048 shares valued at approximately $17.7 million.
• United Rentals recently declared a quarterly dividend of $1.79 per share, resulting in an annualized dividend yield of 0.8% with a payout ratio of 18.52%.
• Analysts have varied targets for United Rentals, with Barclays raising its target to $620 and Morgan Stanley increasing it to $955, reflecting a consensus target price of $842.86.

AQR Capital Management LLC cut its holdings in United Rentals, Inc. (NYSE:URI - Free Report) by 2.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,048 shares of the construction company's stock after selling 740 shares during the quarter. AQR Capital Management LLC's holdings in United Rentals were worth $17,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of United Rentals by 77,674.5% during 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 purchased a new position in shares of United Rentals during the first quarter worth $402,291,000. JPMorgan Chase & Co. grew its position in shares of United Rentals by 98.1% in the first quarter. JPMorgan Chase & Co. now owns 1,093,805 shares of the construction company's stock valued at $685,488,000 after purchasing an additional 541,579 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of United Rentals by 28.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 849,786 shares of the construction company's stock worth $532,561,000 after purchasing an additional 190,007 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of United Rentals by 22.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 661,251 shares of the construction company's stock worth $414,406,000 after purchasing an additional 120,449 shares during the period. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

United Rentals Trading Down 2.2%

Shares of United Rentals stock traded down $20.98 during midday trading on Friday, reaching $938.61. The company had a trading volume of 534,834 shares, compared to its average volume of 461,173. United Rentals, Inc. has a fifty-two week low of $525.91 and a fifty-two week high of $980.53. 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 stock has a fifty day moving average price of $886.34 and a 200 day moving average price of $738.51. The firm has a market cap of $60.39 billion, a PE ratio of 24.27, a P/E/G ratio of 2.22 and a beta of 1.72.

United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The construction company reported $10.47 earnings per share (EPS) 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 business had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.90 billion. During the same period last year, the firm posted $10.70 earnings per share. United Rentals's quarterly 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 anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th were given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, August 13th. United Rentals's dividend payout ratio is presently 18.52%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Citigroup reiterated a "buy" rating and set a $810.00 price target (up from $740.00) on shares of United Rentals in a research note on Tuesday, June 24th. Evercore ISI reiterated an "outperform" rating on shares of United Rentals in a report on Tuesday, August 19th. KeyCorp lifted their target price on shares of United Rentals from $960.00 to $1,075.00 and gave the company an "overweight" rating in a research note on Friday, August 29th. Barclays lifted their price target on shares of United Rentals from $565.00 to $620.00 and gave the stock an "underweight" rating in a research note on Monday, July 21st. Finally, Truist Financial boosted their price objective on United Rentals from $786.00 to $952.00 and gave the stock a "buy" rating in a report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.