Emerald Investment Advisers LLC acquired a new position in United Rentals, Inc. (NYSE:URI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 11,425 shares of the construction company's stock, valued at approximately $12,943,000. United Rentals accounts for approximately 0.9% of Emerald Investment Advisers LLC's portfolio, making the stock its 20th largest holding.
A number of other hedge funds also recently bought and sold shares of the company. Westpac Banking Corp purchased a new position in United Rentals in the second quarter worth about $159,000. TRB Wealth Management LLC purchased a new stake in shares of United Rentals during the 2nd quarter valued at about $240,000. Korea Investment CORP bought a new position in shares of United Rentals in the 2nd quarter worth approximately $34,345,000. EP Wealth Advisors LLC bought a new position in shares of United Rentals in the 2nd quarter worth approximately $20,707,000. Finally, Ieq Capital LLC purchased a new position in shares of United Rentals in the second quarter worth approximately $6,985,000. Hedge funds and other institutional investors own 96.26% of the company's stock.
Wall Street Analyst Weigh In
URI has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their target price on shares of United Rentals from $1,100.00 to $1,235.00 and gave the company an "overweight" rating in a research report on Friday, July 24th. Weiss Ratings upgraded shares of United Rentals from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 23rd. Bank of America lifted their price target on shares of United Rentals from $1,195.00 to $1,300.00 and gave the stock a "buy" rating in a research note on Thursday, July 23rd. Royal Bank Of Canada boosted their price objective on shares of United Rentals from $1,041.00 to $1,119.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Finally, Raymond James Financial restated an "outperform" rating and issued a $1,275.00 price objective on shares of United Rentals in a research note on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, United Rentals currently has an average rating of "Moderate Buy" and an average target price of $1,246.19.
View Our Latest Research Report on United Rentals
Insider Buying and Selling at United Rentals
In related news, EVP William E. Grace sold 1,500 shares of the company's stock in a transaction on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the completion of the transaction, the executive vice president owned 6,062 shares of the company's stock, valued at approximately $6,869,155.30. This represents a 19.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.47% of the company's stock.
United Rentals Trading Down 0.0%
United Rentals stock opened at $1,095.21 on Friday. The firm has a 50 day moving average of $1,099.22 and a 200 day moving average of $949.51. The firm has a market capitalization of $68.17 billion, a price-to-earnings ratio of 26.30, a P/E/G ratio of 1.41 and a beta of 1.80. United Rentals, Inc. has a 12-month low of $701.59 and a 12-month high of $1,179.18. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38.
United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, beating the consensus estimate of $11.53 by $1.23. The business had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The company's revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $10.47 earnings per share. As a group, research analysts predict that United Rentals, Inc. will post 48.55 earnings per share for the current year.
United Rentals Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be given a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Wednesday, August 12th. United Rentals's dividend payout ratio (DPR) is presently 18.92%.
About United Rentals
(
Free Report)
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.
Further Reading
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