Comerica Bank Sells 1,537 Shares of United Rentals, Inc. $URI

Key Points

• Comerica Bank reduced its holdings in United Rentals, Inc. by 8.9%, selling 1,537 shares and bringing its total ownership to 15,828 shares valued at approximately $9.9 million.
• Research analysts have set a variety of target prices for United Rentals, with Morgan Stanley raising their target to $955.00, while the stock maintains an average rating of "Moderate Buy" with a target price of $834.64.
• The company recently announced a quarterly dividend, which will pay out $1.79 per share, contributing to an annual yield of 0.8%, with a payout ratio of 18.52%.

Comerica Bank trimmed its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 8.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,828 shares of the construction company's stock after selling 1,537 shares during the period. Comerica Bank's holdings in United Rentals were worth $9,919,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Fourth Dimension Wealth LLC purchased a new stake in shares of United Rentals during the first quarter worth $26,000. TruNorth Capital Management LLC lifted its position in shares of United Rentals by 1,266.7% during the first quarter. TruNorth Capital Management LLC now owns 41 shares of the construction company's stock worth $26,000 after acquiring an additional 38 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of United Rentals by 69.0% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 49 shares of the construction company's stock worth $31,000 after acquiring an additional 20 shares in the last quarter. Grove Bank & Trust purchased a new stake in shares of United Rentals during the first quarter worth $36,000. Finally, NBC Securities Inc. purchased a new stake in shares of United Rentals during the first quarter worth $40,000. 96.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Argus set a $935.00 target price on United Rentals in a research report on Tuesday, August 12th. Morgan Stanley increased their target price on United Rentals from $702.00 to $955.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Evercore ISI restated an "outperform" rating on shares of United Rentals in a research report on Tuesday, August 19th. The Goldman Sachs Group increased their target price on United Rentals from $770.00 to $850.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Finally, KeyCorp increased their target price on United Rentals from $865.00 to $960.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, United Rentals currently has an average rating of "Moderate Buy" and an average price target of $834.64.

United Rentals Trading Up 0.4%

Shares of URI stock opened at $943.06 on Wednesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.80 and a current ratio of 0.86. United Rentals, Inc. has a 52-week low of $525.91 and a 52-week high of $946.97. The company has a market capitalization of $60.68 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 2.17 and a beta of 1.72. The business's fifty day moving average is $831.49 and its 200 day moving average is $716.36.

United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $3.94 billion during the quarter, compared to analysts' expectations of $3.90 billion. United Rentals had a return on equity of 32.01% and a net margin of 16.11%.The company's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business posted $10.70 EPS. United Rentals has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Dividend Announcement

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

United Rentals 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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