Eastover Investment Advisors LLC Buys 276 Shares of United Rentals, Inc. $URI

Key Points

• Eastover Investment Advisors LLC increased its stake in United Rentals, Inc. by 3.0% during the 2nd quarter, now holding 9,573 shares valued at approximately $7.2 million.
• A number of analysts have raised their price targets for United Rentals, with JPMorgan Chase & Co. increasing its target from $1,000 to $1,150 and maintaining an "overweight" rating.
• The company recently declared a quarterly dividend of $1.79 per share, with an annualized yield of 0.8% and a dividend payout ratio of 18.52%.

Eastover Investment Advisors LLC increased its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 3.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,573 shares of the construction company's stock after acquiring an additional 276 shares during the quarter. United Rentals makes up 3.2% of Eastover Investment Advisors LLC's investment portfolio, making the stock its 15th largest position. Eastover Investment Advisors LLC's holdings in United Rentals were worth $7,212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in United Rentals by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 7,422,036 shares of the construction company's stock valued at $4,651,390,000 after buying an additional 29,501 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of United Rentals by 98.1% during the first quarter. JPMorgan Chase & Co. now owns 1,093,805 shares of the construction company's stock worth $685,488,000 after purchasing an additional 541,579 shares during the period. GAMMA Investing LLC grew its stake in shares of United Rentals by 77,674.5% in the first quarter. GAMMA Investing LLC now owns 887,407 shares of the construction company's stock worth $556,138,000 after purchasing an additional 886,266 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings 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 worth $532,561,000 after buying an additional 190,007 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of United Rentals by 22.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 661,251 shares of the construction company's stock worth $414,406,000 after buying an additional 120,449 shares during the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on URI shares. JPMorgan Chase & Co. raised their price target on United Rentals from $1,000.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Monday, September 22nd. Argus set a $935.00 target price on shares of United Rentals in a research note on Tuesday, August 12th. Barclays boosted their price target on shares of United Rentals from $565.00 to $620.00 and gave the company an "underweight" rating in a research report on Monday, July 21st. Bank of America lifted their price objective on United Rentals from $895.00 to $900.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, Citigroup increased their target price on United Rentals from $1,000.00 to $1,080.00 and gave the stock a "buy" rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, United Rentals has an average rating of "Moderate Buy" and a consensus target price of $911.06.

United Rentals Stock Up 1.7%

URI stock opened at $947.47 on Friday. United Rentals, Inc. has a twelve month low of $525.91 and a twelve month high of $980.53. The company has a quick ratio of 0.80, a current ratio of 0.86 and a debt-to-equity ratio of 1.34. The firm has a market cap of $60.96 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 2.15 and a beta of 1.72. The business has a 50 day moving average of $913.99 and a 200 day moving average of $760.64.

United Rentals (NYSE:URI - Get Free Report) last released 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 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 revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $10.70 earnings per share. United Rentals has set its FY 2025 guidance at EPS. On average, research analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 0.8%. United Rentals's dividend payout ratio (DPR) 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.

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