Flputnam Investment Management Co. Buys 3,822 Shares of United Rentals, Inc. $URI

Key Points

• Flputnam Investment Management increased its United Rentals stake by 119.1% in the second quarter, purchasing 3,822 additional shares for a total holding of 7,030 shares valued at $7.96 million. Institutional investors collectively own 96.26% of URI.
• Analyst sentiment is broadly positive, with one Strong Buy, 16 Buy ratings, and one Sell rating; the stock has an average “Moderate Buy” rating and a consensus price target of $1,246.19.
• United Rentals exceeded quarterly expectations, reporting EPS of $12.76 and revenue of $4.41 billion, up 11.8% year over year. The company also paid a quarterly dividend of $1.97, equal to a 0.8% annualized yield.

Flputnam Investment Management Co. increased its stake in United Rentals, Inc. (NYSE:URI - Free Report) by 119.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,030 shares of the construction company's stock after purchasing an additional 3,822 shares during the quarter. Flputnam Investment Management Co.'s holdings in United Rentals were worth $7,964,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of URI. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of United Rentals during the 2nd quarter valued at $29,000. MidFirst Bank bought a new position in United Rentals during the second quarter worth about $31,000. Core Wealth Advisors LLC purchased a new position in shares of United Rentals in the fourth quarter worth about $28,000. MV Capital Management Inc. bought a new stake in shares of United Rentals in the fourth quarter valued at approximately $28,000. Finally, Bell Investment Advisors Inc bought a new stake in shares of United Rentals in the second quarter valued at approximately $40,000. Hedge funds and other institutional investors own 96.26% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on URI shares. Wall Street Zen raised shares of United Rentals from a "hold" rating to a "buy" rating in a report on Saturday, July 25th. Zacks Research raised shares of United Rentals from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. Truist Financial increased their target price on United Rentals from $1,421.00 to $1,466.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Citigroup lifted their price target on United Rentals from $1,270.00 to $1,330.00 and gave the company a "buy" rating in a research report on Friday, July 24th. Finally, Wells Fargo & Company boosted their price objective on United Rentals from $1,245.00 to $1,355.00 and gave the company an "overweight" rating in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,246.19.

United Rentals Price Performance

Shares of NYSE:URI opened at $1,030.64 on Friday. The company has a 50 day moving average of $1,097.31 and a 200 day moving average of $957.16. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38. The stock has a market cap of $64.15 billion, a P/E ratio of 24.75, a P/E/G ratio of 1.33 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.

United Rentals (NYSE:URI - Get Free Report) last posted its earnings results 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 net margin of 15.67% and a return on equity of 31.72%. The business had revenue of $4.41 billion for the quarter, compared to analysts' expectations of $4.22 billion. During the same period in the prior year, the company posted $10.47 EPS. The business's revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, sell-side analysts forecast that United Rentals, Inc. will post 48.55 EPS for the current fiscal year.

United Rentals Announces Dividend

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

Insider Activity

In related news, EVP William E. Grace sold 1,500 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the sale, the executive vice president owned 6,062 shares in the company, valued at approximately $6,869,155.30. This trade represents a 19.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company 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.

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