Drive Wealth Management LLC Invests $225,000 in United Rentals, Inc. $URI

Key Points

• Drive Wealth Management LLC has invested $225,000 in United Rentals, Inc., acquiring 299 shares as per the firm’s recent SEC filing.
• Several institutional investors, including JPMorgan Chase & Co. and Goldman Sachs, have significantly increased their stakes in United Rentals, demonstrating strong institutional confidence in the stock.
• The stock currently enjoys a consensus rating of Moderate Buy, with an average price target of $954.88, reflecting positive market sentiment despite a missed earnings estimate in the last quarter.

Drive Wealth Management LLC acquired a new stake in United Rentals, Inc. (NYSE:URI - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 299 shares of the construction company's stock, valued at approximately $225,000.

A number of other institutional investors also recently added to or reduced their stakes in URI. Nuveen LLC acquired a new stake in shares of United Rentals in the 1st quarter valued at approximately $402,291,000. JPMorgan Chase & Co. raised its position in United Rentals by 98.1% in the first quarter. JPMorgan Chase & Co. now owns 1,093,805 shares of the construction company's stock worth $685,488,000 after acquiring an additional 541,579 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in United Rentals in the second quarter valued at $152,069,000. The Manufacturers Life Insurance Company boosted its position in shares of United Rentals by 28.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 849,786 shares of the construction company's stock worth $532,561,000 after purchasing an additional 190,007 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of United Rentals by 22.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 661,251 shares of the construction company's stock worth $414,406,000 after purchasing an additional 120,449 shares during the period. Hedge funds and other institutional investors own 96.26% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. BNP Paribas Exane upgraded shares of United Rentals from an "underperform" rating to a "neutral" rating and set a $900.00 price objective for the company in a research note on Tuesday, September 16th. UBS Group lifted their price target on shares of United Rentals from $780.00 to $835.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Evercore ISI restated an "outperform" rating on shares of United Rentals in a report on Tuesday, August 19th. BNP Paribas set a $900.00 price objective on United Rentals and gave the company a "neutral" rating in a research note on Tuesday, September 16th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of United Rentals in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $954.88.

United Rentals Price Performance

URI stock opened at $1,000.15 on Tuesday. The stock's 50 day moving average price is $953.51 and its 200 day moving average price is $802.61. The firm has a market cap of $64.35 billion, a P/E ratio of 25.86, a PEG ratio of 2.26 and a beta of 1.73. 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 1 year low of $525.91 and a 1 year high of $1,021.47.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings results 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 return on equity of 32.01% and a net margin of 16.11%.The company had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.90 billion. During the same period last year, the firm earned $10.70 earnings per share. The business's revenue was up 4.5% compared to the same quarter last year. United Rentals has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th were issued a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Wednesday, August 13th. United Rentals's dividend payout ratio is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.