Empowered Funds LLC Makes New Investment in United Rentals, Inc. $URI

Key Points

• Empowered Funds LLC acquired 17,193 United Rentals shares in the second quarter, valued at approximately $19.5 million. Institutional investors collectively own 96.26% of the company’s stock.
• Analysts remain broadly bullish: United Rentals has a consensus “Moderate Buy” rating and an average price target of $1,246.19, with several firms recently raising their targets.
• United Rentals exceeded quarterly expectations, reporting $12.76 in EPS and $4.41 billion in revenue, while revenue increased 11.8% year over year. The company also pays a quarterly dividend of $1.97 per share, yielding about 0.8% annually.

Empowered Funds LLC acquired a new position in United Rentals, Inc. (NYSE:URI - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 17,193 shares of the construction company's stock, valued at approximately $19,478,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. SFE Investment Counsel bought a new position in United Rentals during the second quarter valued at approximately $12,765,000. Eventide Asset Management LLC increased its stake in shares of United Rentals by 19.6% during the 4th quarter. Eventide Asset Management LLC now owns 95,940 shares of the construction company's stock worth $77,666,000 after purchasing an additional 15,696 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of United Rentals by 52.0% during the 4th quarter. Sequoia Financial Advisors LLC now owns 3,241 shares of the construction company's stock valued at $2,623,000 after purchasing an additional 1,109 shares in the last quarter. Bridges Investment Management Inc. lifted its stake in shares of United Rentals by 2.0% in the 4th quarter. Bridges Investment Management Inc. now owns 69,583 shares of the construction company's stock valued at $56,315,000 after purchasing an additional 1,354 shares during the last quarter. Finally, WINTON GROUP Ltd boosted its holdings in United Rentals by 995.1% in the fourth quarter. WINTON GROUP Ltd now owns 13,612 shares of the construction company's stock worth $11,016,000 after purchasing an additional 12,369 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other United Rentals news, EVP William E. Grace sold 1,500 shares of the company's stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the sale, the executive vice president directly owned 6,062 shares of the company's stock, valued at approximately $6,869,155.30. This represents a 19.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.47% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on URI shares. UBS Group increased their price objective on United Rentals from $1,300.00 to $1,350.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. Citigroup boosted their target price on shares of United Rentals from $1,270.00 to $1,330.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Morgan Stanley set a $1,335.00 price objective on United Rentals and gave the stock an "overweight" rating in a research report on Friday, July 24th. Argus reiterated a "buy" rating and set a $1,250.00 price target on shares of United Rentals in a report on Tuesday, August 4th. Finally, Truist Financial upped their target price on shares of United Rentals from $1,421.00 to $1,466.00 and gave the company a "buy" rating in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,246.19.

United Rentals Stock Performance

NYSE URI opened at $1,030.64 on Friday. The stock has a market cap of $64.15 billion, a P/E ratio of 24.75, a PEG ratio of 1.34 and a beta of 1.80. The company's 50-day simple moving average is $1,097.31 and its 200 day simple moving average is $957.16. United Rentals, Inc. has a twelve month low of $701.59 and a twelve month high of $1,179.18. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, topping analysts' consensus estimates of $11.53 by $1.23. The firm had revenue of $4.41 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter last year, the company earned $10.47 earnings per share. As a group, research analysts forecast that United Rentals, Inc. will post 48.55 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were issued a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, August 12th. United Rentals's dividend payout ratio (DPR) is currently 18.92%.

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.

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