Assenagon Asset Management S.A. Trims Stock Position in United Rentals, Inc. $URI

Key Points

• Assenagon Asset Management S.A. reduced its stake in United Rentals by 56.4%, now holding 20,259 shares valued at approximately $15.3 million.
• The company's recent earnings report showed EPS of $10.47, missing estimates but revenue rose by 4.5% year-over-year.
• United Rentals declared a quarterly dividend of $1.79 per share, resulting in an annualized yield of 0.8%.

Assenagon Asset Management S.A. cut its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 56.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,259 shares of the construction company's stock after selling 26,242 shares during the period. Assenagon Asset Management S.A.'s holdings in United Rentals were worth $15,263,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. IFM Investors Pty Ltd raised its stake in shares of United Rentals by 2.6% during the second quarter. IFM Investors Pty Ltd now owns 13,825 shares of the construction company's stock worth $10,416,000 after purchasing an additional 346 shares during the last quarter. Trust Point Inc. purchased a new position in United Rentals during the 2nd quarter worth $367,000. YHB Investment Advisors Inc. raised its position in United Rentals by 0.3% during the 2nd quarter. YHB Investment Advisors Inc. now owns 19,700 shares of the construction company's stock worth $14,842,000 after buying an additional 59 shares during the last quarter. Mogy Joel R Investment Counsel Inc. purchased a new position in United Rentals during the second quarter worth about $205,000. Finally, Park Capital Management LLC WI purchased a new position in United Rentals during the second quarter worth about $201,000. Hedge funds and other institutional investors own 96.26% of the company's stock.

United Rentals Stock Up 0.2%

Shares of NYSE URI opened at $943.48 on Tuesday. The firm has a fifty day moving average of $903.12 and a 200-day moving average of $753.32. United Rentals, Inc. has a 52-week low of $525.91 and a 52-week high of $980.53. The company has a quick ratio of 0.80, a current ratio of 0.86 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $60.70 billion, a PE ratio of 24.40, a P/E/G ratio of 2.18 and a beta of 1.72.

United Rentals (NYSE:URI - Get Free Report) last issued 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). United Rentals had a return on equity of 32.01% and a net margin of 16.11%.The firm had revenue of $3.94 billion for the quarter, compared to analysts' expectations of $3.90 billion. During the same quarter in the previous year, the firm posted $10.70 EPS. The firm'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. On average, analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Investors 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 yield of 0.8%. The ex-dividend date of this dividend was Wednesday, August 13th. United Rentals's dividend payout ratio is 18.52%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on URI shares. JPMorgan Chase & Co. increased their target price on United Rentals from $1,000.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Monday. Truist Financial increased their price objective on United Rentals from $786.00 to $952.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Redburn Atlantic cut United Rentals from a "buy" rating to a "neutral" rating and set a $760.00 price objective for the company. in a research report on Friday, June 13th. KeyCorp increased their price objective on United Rentals from $960.00 to $1,075.00 and gave the stock an "overweight" rating in a research report on Friday, August 29th. Finally, Argus set a $935.00 price target on shares of United Rentals in a report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, United Rentals presently has an average rating of "Moderate Buy" and an average price target of $862.50.

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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