Elevation Point Wealth Partners LLC Increases Holdings in United Rentals, Inc. $URI

Key Points

• Elevation Point Wealth Partners LLC increased its stake in United Rentals by 520.4% in the first quarter, ending with 3,468 shares valued at about $2.53 million.
• United Rentals reported Q1 EPS of $9.71, below analyst expectations of $11.47, and revenue of $3.98 billion, also short of forecasts, though revenue still rose 7.2% year over year.
• Wall Street sentiment remains constructive overall, with 15 Buy ratings and a consensus Moderate Buy rating; the average price target stands at about $1,119.69.

Elevation Point Wealth Partners LLC boosted its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 520.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,468 shares of the construction company's stock after buying an additional 2,909 shares during the period. Elevation Point Wealth Partners LLC's holdings in United Rentals were worth $2,527,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Woodline Partners LP grew its holdings in shares of United Rentals by 40.0% in the first quarter. Woodline Partners LP now owns 5,518 shares of the construction company's stock valued at $3,458,000 after purchasing an additional 1,577 shares during the period. Sei Investments Co. grew its stake in shares of United Rentals by 24.7% in the 2nd quarter. Sei Investments Co. now owns 27,136 shares of the construction company's stock valued at $20,444,000 after buying an additional 5,375 shares during the period. Treasurer of the State of North Carolina increased its holdings in shares of United Rentals by 43.6% during the 2nd quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company's stock worth $42,233,000 after buying an additional 17,030 shares during the last quarter. HUB Investment Partners LLC increased its holdings in shares of United Rentals by 11.3% during the 2nd quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company's stock worth $1,661,000 after buying an additional 223 shares during the last quarter. Finally, Diversify Advisory Services LLC raised its position in shares of United Rentals by 338.7% during the 2nd quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company's stock valued at $1,246,000 after buying an additional 1,277 shares during the period. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Stock Performance

NYSE:URI opened at $1,100.43 on Friday. United Rentals, Inc. has a fifty-two week low of $701.59 and a fifty-two week high of $1,143.69. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80. The company has a 50 day moving average price of $1,018.24 and a 200 day moving average price of $892.34. The stock has a market capitalization of $68.94 billion, a P/E ratio of 28.07, a PEG ratio of 1.76 and a beta of 1.79.

United Rentals (NYSE:URI - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $11.47 by ($1.76). United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The firm had revenue of $3.98 billion during the quarter, compared to analysts' expectations of $4.20 billion. During the same period in the previous year, the firm earned $8.86 EPS. The firm's revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts forecast that United Rentals, Inc. will post 46.76 EPS for the current year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were issued a $1.97 dividend. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Wednesday, May 13th. United Rentals's payout ratio is currently 20.10%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Royal Bank Of Canada upped their price objective on United Rentals from $1,041.00 to $1,119.00 and gave the company an "outperform" rating in a report on Friday, April 24th. Barclays lifted their target price on United Rentals from $600.00 to $715.00 and gave the company an "underweight" rating in a research report on Friday, April 24th. Raymond James Financial reaffirmed an "outperform" rating and issued a $1,275.00 price target on shares of United Rentals in a research note on Wednesday, June 10th. Citigroup increased their price target on United Rentals from $950.00 to $1,130.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Finally, BNP Paribas Exane raised United Rentals from a "neutral" rating to an "outperform" rating and set a $1,320.00 price objective for the company in a research report on Monday, June 29th. Fifteen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, United Rentals presently has a consensus rating of "Moderate Buy" and an average price target of $1,119.69.

Insider Transactions at United Rentals

In other United Rentals news, CEO Matthew John Flannery sold 22,768 shares of United Rentals stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $984.98, for a total value of $22,426,024.64. Following the completion of the transaction, the chief executive officer directly owned 99,980 shares of the company's stock, valued at $98,478,300.40. The trade was a 18.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Andrew B. Limoges sold 548 shares of the business's stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $977.86, for a total transaction of $535,867.28. Following the sale, the vice president owned 1,865 shares in the company, valued at $1,823,708.90. This trade represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 26,088 shares of company stock worth $25,628,877 in the last 90 days. Insiders own 0.47% of the company's stock.

United Rentals Profile

United Rentals, Inc NYSE: URI is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company's product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.

Want to see what other hedge funds are holding URI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Rentals, Inc. (NYSE:URI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.