Douglas Lane & Associates LLC Decreases Stock Position in United Rentals, Inc. $URI

Key Points

• Douglas Lane & Associates LLC reduced its stake in United Rentals, Inc. by 4.1% during the second quarter, with holdings valued at approximately $10.51 million.
• United Rentals reported earnings of $10.47 per share for the latest quarter, slightly missing analyst expectations, but saw revenue growth of 4.5% year over year.
• Wall Street analysts have set a consensus price target of $842.86 for United Rentals, with ratings ranging from "Strong Buy" to "Sell" based on a variety of forecasts.

Douglas Lane & Associates LLC lessened its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 4.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 13,945 shares of the construction company's stock after selling 602 shares during the period. Douglas Lane & Associates LLC's holdings in United Rentals were worth $10,506,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. GAMMA Investing LLC grew its position in United Rentals by 77,674.5% in the 1st quarter. GAMMA Investing LLC now owns 887,407 shares of the construction company's stock valued at $556,138,000 after acquiring an additional 886,266 shares during the last quarter. Nuveen LLC bought a new position in United Rentals in the 1st quarter valued at $402,291,000. JPMorgan Chase & Co. grew its position in United Rentals by 98.1% in the 1st quarter. JPMorgan Chase & Co. now owns 1,093,805 shares of the construction company's stock valued at $685,488,000 after acquiring an additional 541,579 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in United Rentals by 28.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 849,786 shares of the construction company's stock valued at $532,561,000 after acquiring an additional 190,007 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in United Rentals by 22.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 661,251 shares of the construction company's stock valued at $414,406,000 after acquiring an additional 120,449 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company's stock.

Analyst Ratings Changes

URI has been the topic of several research analyst reports. BNP Paribas Exane raised United Rentals from an "underperform" rating to a "neutral" rating and set a $900.00 price objective on the stock in a research report on Tuesday. Morgan Stanley increased their price target on United Rentals from $702.00 to $955.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. UBS Group increased their price target on United Rentals from $780.00 to $835.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Argus set a $935.00 price target on United Rentals in a research report on Tuesday, August 12th. Finally, Truist Financial increased their price target on United Rentals from $786.00 to $952.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $850.00.

United Rentals Stock Up 1.2%

URI stock traded up $10.94 during trading on Tuesday, reaching $958.84. 447,346 shares of the company traded hands, compared to its average volume of 480,459. United Rentals, Inc. has a 12 month low of $525.91 and a 12 month high of $980.53. The business has a 50 day simple moving average of $892.95 and a 200 day simple moving average of $743.55. The company has a market capitalization of $61.69 billion, a price-to-earnings ratio of 24.80, a price-to-earnings-growth ratio of 2.19 and a beta of 1.72. 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 (NYSE:URI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The construction company reported $10.47 earnings per share for the quarter, missing analysts' consensus estimates of $10.54 by ($0.07). United Rentals had a net margin of 16.11% and a return on equity of 32.01%. The company had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same period in the previous year, the business earned $10.70 EPS. United Rentals'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, equities research analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $7.16 dividend on an annualized basis and a yield of 0.7%. United Rentals's dividend payout ratio (DPR) is presently 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.