Bank of America Corp DE Acquires Shares of 833,440 United Rentals, Inc. $URI

Bank of America Corp DE bought a new position in United Rentals, Inc. (NYSE:URI - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm bought 833,440 shares of the construction company's stock, valued at approximately $944,196,000. Bank of America Corp DE owned approximately 1.34% of United Rentals as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Freestone Grove Partners LP bought a new stake in United Rentals in the second quarter worth about $78,654,000. Caisse de depot et placement du Quebec purchased a new stake in United Rentals during the second quarter valued at about $42,021,000. Man Group plc bought a new stake in United Rentals in the second quarter worth $34,516,000. Western Wealth Management LLC bought a new stake in United Rentals during the 2nd quarter valued at $566,000. Finally, Jupiter Topco LLC purchased a new position in shares of United Rentals in the second quarter valued at about $9,227,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on URI. UBS Group set a $1,170.00 price objective on United Rentals in a research report on Thursday, September 10th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $1,170.00 price target (down from $1,235.00) on shares of United Rentals in a report on Thursday, September 10th. Weiss Ratings upgraded United Rentals from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 23rd. Bank of America lifted their price objective on shares of United Rentals from $1,195.00 to $1,300.00 and gave the company a "buy" rating in a research report on Thursday, July 23rd. Finally, Raymond James Financial reiterated an "outperform" rating and set a $1,275.00 target price on shares of United Rentals in a research report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,230.88.

United Rentals Stock Performance

Shares of United Rentals stock opened at $988.17 on Wednesday. The company has a 50 day moving average price of $1,073.25 and a 200 day moving average price of $968.28. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $61.50 billion, a P/E ratio of 23.73, a PEG ratio of 1.46 and a beta of 1.79. 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 earnings results on Wednesday, July 22nd. The construction company reported $12.76 EPS for the quarter, topping analysts' consensus estimates of $11.53 by $1.23. The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The company's revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.47 earnings per share. Sell-side analysts expect that United Rentals, Inc. will post 48.7 EPS for the current year.

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were paid a $1.97 dividend. The ex-dividend date was Wednesday, August 12th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.8%. United Rentals's dividend payout ratio is presently 18.92%.

Insider Transactions at United Rentals

In other United Rentals news, EVP William Grace sold 1,500 shares of United Rentals stock in a transaction on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the completion of the transaction, the executive vice president owned 6,062 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.47% of the company's stock.

United Rentals Profile

United Rentals, Inc is an equipment rental company serving construction, industrial, commercial, government and residential customers. The company provides access to a broad range of equipment without requiring customers to purchase and maintain their own fleets.

Its rental offerings include aerial work platforms, earthmoving equipment, material-handling equipment, trucks and trailers, power-generation and climate-control equipment, pumps, tools, trench-safety products and traffic-control equipment.

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