Commonwealth Equity Services LLC Purchases 1,642 Shares of United Rentals, Inc. (NYSE:URI)

Key Points

• Commonwealth Equity Services LLC increased its stake in United Rentals, Inc. by 3.0%, now owning 56,640 shares valued at approximately $35.50 million.
• Analysts have raised price targets for United Rentals, with UBS Group setting a new target of $835.00 and Goldman Sachs reaching $850.00, indicating a positive outlook for the stock.
• United Rentals reported earnings of $10.47 per share for the latest quarter, slightly below analysts' expectations, while revenue increased by 4.5% year-over-year.

Commonwealth Equity Services LLC lifted its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,640 shares of the construction company's stock after buying an additional 1,642 shares during the quarter. Commonwealth Equity Services LLC owned about 0.09% of United Rentals worth $35,496,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Envestnet Asset Management Inc. grew its holdings in United Rentals by 10.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 125,163 shares of the construction company's stock valued at $88,170,000 after purchasing an additional 12,028 shares during the period. Titleist Asset Management LLC acquired a new position in United Rentals during the fourth quarter valued at approximately $246,000. Trek Financial LLC acquired a new position in United Rentals during the fourth quarter valued at approximately $394,000. Cerity Partners LLC boosted its holdings in shares of United Rentals by 0.5% in the fourth quarter. Cerity Partners LLC now owns 106,834 shares of the construction company's stock valued at $75,643,000 after buying an additional 582 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of United Rentals by 7.4% in the fourth quarter. Invesco Ltd. now owns 922,452 shares of the construction company's stock valued at $649,813,000 after buying an additional 63,657 shares during the period. Institutional investors and hedge funds own 96.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of United Rentals from $786.00 to $952.00 and gave the company a "buy" rating in a report on Friday, July 25th. Evercore ISI reduced their price target on shares of United Rentals from $974.00 to $921.00 and set an "outperform" rating for the company in a report on Monday, May 19th. UBS Group upped their price target on shares of United Rentals from $780.00 to $835.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Citigroup reiterated a "buy" rating and issued a $810.00 price target (up previously from $740.00) on shares of United Rentals in a report on Tuesday, June 24th. Finally, Redburn Atlantic cut shares of United Rentals from a "buy" rating to a "neutral" rating and set a $760.00 price target for the company. in a report on Friday, June 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, United Rentals has an average rating of "Moderate Buy" and a consensus price target of $830.71.

Insider Transactions at United Rentals

In related news, VP Andrew B. Limoges sold 708 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $705.86, for a total value of $499,748.88. Following the completion of the transaction, the vice president owned 1,921 shares in the company, valued at $1,355,957.06. This trade represents a 26.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.53% of the stock is currently owned by company insiders.

United Rentals Price Performance

United Rentals stock traded up $4.38 during trading hours on Friday, reaching $858.99. 273,014 shares of the stock were exchanged, compared to its average volume of 657,143. The company has a market cap of $55.27 billion, a P/E ratio of 22.21, a price-to-earnings-growth ratio of 1.99 and a beta of 1.72. The company has a current ratio of 0.86, a quick ratio of 0.80 and a debt-to-equity ratio of 1.34. United Rentals, Inc. has a twelve month low of $525.91 and a twelve month high of $903.60. The stock has a 50 day moving average of $777.39 and a two-hundred day moving average of $703.50.

United Rentals (NYSE:URI - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The construction company reported $10.47 EPS for the quarter, missing analysts' consensus estimates of $10.54 by ($0.07). The company had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.90 billion. United Rentals had a return on equity of 32.01% and a net margin of 16.11%. The firm's revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company posted $10.70 EPS. Equities analysts expect that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Announces Dividend

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

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.