Cardinal Capital Management Inc. Acquires 5,142 Shares of United Rentals, Inc. $URI

Key Points

• Cardinal Capital Management increased its United Rentals stake by 11.6% in the second quarter, acquiring 5,142 shares for a total holding of 49,644 shares valued at approximately $56.2 million. Institutional investors collectively own 96.26% of the company.
• United Rentals reported strong quarterly results, with EPS of $12.76 beating estimates by $1.23 and revenue rising 11.8% year over year to $4.41 billion. The company also declared a quarterly dividend of $1.97 per share, yielding 0.7% annually.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $1,246.19, above the reported share price of $1,145.69. However, EVP William E. Grace sold 1,500 shares, reducing his direct ownership by 19.84%.

Cardinal Capital Management Inc. boosted its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 11.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,644 shares of the construction company's stock after acquiring an additional 5,142 shares during the period. United Rentals accounts for about 1.4% of Cardinal Capital Management Inc.'s investment portfolio, making the stock its 23rd largest holding. Cardinal Capital Management Inc. owned about 0.08% of United Rentals worth $56,241,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Core Wealth Advisors LLC bought a new position in shares of United Rentals during the fourth quarter valued at approximately $28,000. MV Capital Management Inc. bought a new stake in shares of United Rentals in the 4th quarter worth approximately $28,000. Laurel Wealth Advisors LLC bought a new stake in shares of United Rentals in the 4th quarter worth approximately $32,000. Hilton Head Capital Partners LLC purchased a new stake in shares of United Rentals in the 4th quarter worth approximately $34,000. Finally, Sunbelt Securities Inc. grew its stake in shares of United Rentals by 2,300.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 48 shares of the construction company's stock worth $46,000 after buying an additional 46 shares during the last quarter. Institutional investors own 96.26% of the company's stock.

Insider Activity

In other news, EVP William E. Grace sold 1,500 shares of the company's stock in a transaction on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the transaction, the executive vice president directly owned 6,062 shares of the company's stock, valued at $6,869,155.30. This represents a 19.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.47% of the stock is currently owned by insiders.

United Rentals Price Performance

Shares of URI opened at $1,145.69 on Wednesday. United Rentals, Inc. has a twelve month low of $701.59 and a twelve month high of $1,179.18. The company has a market capitalization of $71.31 billion, a P/E ratio of 27.51, a price-to-earnings-growth ratio of 1.47 and a beta of 1.80. The firm has a 50 day moving average of $1,091.10 and a 200 day moving average of $936.23. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.53 by $1.23. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The business had revenue of $4.41 billion for the quarter, compared to analysts' expectations of $4.22 billion. During the same period in the prior year, the firm posted $10.47 EPS. The firm's quarterly revenue was up 11.8% on a year-over-year basis. As a group, equities research analysts anticipate that United Rentals, Inc. will post 48.55 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Barclays lifted their price objective on United Rentals from $715.00 to $950.00 and gave the company an "underweight" rating in a research note on Friday, July 24th. Truist Financial increased their target price on United Rentals from $1,421.00 to $1,466.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Zacks Research upgraded United Rentals from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. Royal Bank Of Canada lifted their price target on United Rentals from $1,041.00 to $1,119.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Finally, BNP Paribas Exane upgraded shares of United Rentals from a "neutral" rating to an "outperform" rating and set a $1,320.00 price target on the stock in a research note on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, United Rentals has a consensus rating of "Moderate Buy" and an average target price of $1,246.19.

United Rentals Company 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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