First Trust Advisors LP boosted its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 134.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,078 shares of the construction company's stock after acquiring an additional 39,559 shares during the period. First Trust Advisors LP owned 0.11% of United Rentals worth $50,327,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of URI. Gleason Group Inc. lifted its holdings in shares of United Rentals by 4.3% during the fourth quarter. Gleason Group Inc. now owns 269 shares of the construction company's stock valued at $218,000 after purchasing an additional 11 shares during the last quarter. Bridgewater Advisors Inc. grew its stake in shares of United Rentals by 1.2% in the 4th quarter. Bridgewater Advisors Inc. now owns 967 shares of the construction company's stock worth $783,000 after buying an additional 11 shares during the last quarter. PFG Investments LLC increased its position in United Rentals by 0.9% during the 1st quarter. PFG Investments LLC now owns 1,172 shares of the construction company's stock valued at $854,000 after buying an additional 11 shares in the last quarter. Great Valley Advisor Group Inc. increased its position in United Rentals by 2.9% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company's stock valued at $292,000 after buying an additional 11 shares in the last quarter. Finally, Fearless Solutions LLC dba Best Invest raised its stake in United Rentals by 2.2% during the fourth quarter. Fearless Solutions LLC dba Best Invest now owns 554 shares of the construction company's stock valued at $448,000 after buying an additional 12 shares during the last quarter. Institutional investors own 96.26% of the company's stock.
More United Rentals News
Here are the key news stories impacting United Rentals this week:
- Positive Sentiment: JPMorgan raised its price target on United Rentals to $1,235 and kept an overweight rating, signaling confidence in continued upside. JPMorgan price target increase
- Positive Sentiment: Truist boosted its target to $1,466 and maintained a buy rating, reflecting a more optimistic view of URI’s earnings power and demand trends. Truist price target increase
- Positive Sentiment: Citigroup raised its target to $1,330 with a buy rating after the company’s strong Q2 results and improved guidance. Citigroup price target increase
- Positive Sentiment: Bank of America increased its target to $1,300 and reiterated a buy rating, adding to the positive analyst momentum around the stock. Bank of America price target increase
- Positive Sentiment: United Rentals reported Q2 earnings of $12.76 per share and revenue of $4.41 billion, both ahead of expectations, and raised full-year guidance on stronger rental growth and demand. Q2 earnings beat and guidance raise
- Neutral Sentiment: The company also declared a quarterly dividend of $1.97 per share, which is a modest shareholder-return update but not likely the main driver of today’s trading. Dividend announcement
United Rentals Trading Down 0.1%
Shares of NYSE URI opened at $1,140.19 on Monday. United Rentals, Inc. has a fifty-two week low of $701.59 and a fifty-two week high of $1,177.67. The company has a market cap of $70.97 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 1.51 and a beta of 1.79. The business's 50 day moving average price is $1,052.87 and its 200-day moving average price is $919.31. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.70 and a current ratio of 0.76.
United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.53 by $1.23. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The company had revenue of $4.41 billion for the quarter, compared to analysts' expectations of $4.22 billion. During the same quarter in the prior year, the firm earned $10.47 earnings per share. United Rentals's revenue was up 11.8% compared to the same quarter last year. On average, sell-side analysts expect that United Rentals, Inc. will post 47.32 earnings per share for the current year.
United Rentals Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be given a dividend of $1.97 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. United Rentals's dividend payout ratio (DPR) is 18.92%.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the company. Raymond James Financial reissued an "outperform" rating and issued a $1,275.00 target price on shares of United Rentals in a report on Wednesday, June 10th. Wall Street Zen upgraded shares of United Rentals from a "hold" rating to a "buy" rating in a research note on Saturday. Citigroup upped their price target on shares of United Rentals from $1,270.00 to $1,330.00 and gave the company a "buy" rating in a research report on Friday. Robert W. Baird set a $1,300.00 price objective on United Rentals in a research note on Friday. Finally, KeyCorp restated an "overweight" rating and set a $1,350.00 price objective on shares of United Rentals in a research report on Friday. Fifteen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,226.50.
View Our Latest Research Report on URI
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.
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