Empowered Funds LLC Buys 758 Shares of United Rentals, Inc. $URI

Key Points

• Empowered Funds LLC increased its stake in United Rentals, Inc. by 12.4%, acquiring an additional 758 shares, bringing their total holdings to 6,895 shares valued at approximately $4.32 million.
• Several institutional investors made significant new stakes in United Rentals during the first quarter, contributing to a robust institutional ownership of 96.26% of the company's stock.
• Despite reporting quarterly earnings of $10.47 per share, United Rentals missed the consensus estimate by $0.07, although they achieved a revenue of $3.94 billion, slightly surpassing expectations.

Empowered Funds LLC increased its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 12.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,895 shares of the construction company's stock after acquiring an additional 758 shares during the period. Empowered Funds LLC's holdings in United Rentals were worth $4,321,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. MBB Public Markets I LLC acquired a new position in shares of United Rentals in the first quarter valued at approximately $314,000. United Services Automobile Association bought a new stake in United Rentals during the first quarter worth $997,000. Caxton Associates LLP bought a new stake in United Rentals during the first quarter worth $1,200,000. Fred Alger Management LLC lifted its stake in United Rentals by 175.3% during the first quarter. Fred Alger Management LLC now owns 19,852 shares of the construction company's stock worth $12,441,000 after purchasing an additional 12,642 shares during the last quarter. Finally, Challenger Wealth Management bought a new position in shares of United Rentals in the 1st quarter valued at $219,000. Institutional investors own 96.26% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on URI shares. The Goldman Sachs Group raised their target price on United Rentals from $770.00 to $850.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. JPMorgan Chase & Co. lifted their price objective on United Rentals from $920.00 to $950.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Barclays raised their target price on United Rentals from $565.00 to $620.00 and gave the company an "underweight" rating in a research note on Monday, July 21st. Argus set a $935.00 price target on United Rentals in a research note on Tuesday, August 12th. Finally, Morgan Stanley lifted their price target on United Rentals from $702.00 to $955.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, United Rentals presently has a consensus rating of "Moderate Buy" and an average target price of $842.86.

United Rentals Stock Down 2.2%

URI opened at $938.61 on Friday. The stock has a market cap of $60.39 billion, a PE ratio of 24.27, a P/E/G ratio of 2.22 and a beta of 1.72. The company has a quick ratio of 0.80, a current ratio of 0.86 and a debt-to-equity ratio of 1.34. United Rentals, Inc. has a 52 week low of $525.91 and a 52 week high of $980.53. The business's fifty day simple moving average is $886.34 and its 200 day simple moving average is $738.51.

United Rentals (NYSE:URI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The construction company reported $10.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.54 by ($0.07). The business had revenue of $3.94 billion for the quarter, compared to analysts' expectations of $3.90 billion. United Rentals had a net margin of 16.11% and a return on equity of 32.01%. The business's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $10.70 earnings per share. United Rentals has set its FY 2025 guidance at EPS. As a group, research analysts expect that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th were paid a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, August 13th. United Rentals's dividend payout ratio 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.

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 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.