Flputnam Investment Management Co. Takes Position in United Rentals, Inc. $URI

Key Points

• Flputnam Investment Management acquired 7,030 United Rentals shares worth approximately $7.96 million in the second quarter. Institutional investors now own 96.26% of the company.
• Analysts remain broadly bullish, with an average “Moderate Buy” rating and a consensus price target of $1,246.19; one analyst upgraded the stock to “Strong Buy,” while Barclays maintained an “Underweight” rating.
• United Rentals exceeded quarterly expectations, reporting $12.76 in EPS and $4.41 billion in revenue, up 11.8% year over year. The company also declared a quarterly dividend of $1.97 per share, representing a 0.7% yield.

Flputnam Investment Management Co. bought a new stake 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 firm bought 7,030 shares of the construction company's stock, valued at approximately $7,964,000.

Several other large investors also recently bought and sold shares of the business. Woodline Partners LP raised its position in shares of United Rentals by 40.0% during the 1st quarter. Woodline Partners LP now owns 5,518 shares of the construction company's stock valued at $3,458,000 after buying an additional 1,577 shares in the last quarter. Sei Investments Co. grew its position in United Rentals by 24.7% in the second quarter. Sei Investments Co. now owns 27,136 shares of the construction company's stock worth $20,444,000 after acquiring an additional 5,375 shares in the last quarter. Treasurer of the State of North Carolina grew its position in United Rentals by 43.6% in the second quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company's stock worth $42,233,000 after acquiring an additional 17,030 shares in the last quarter. HUB Investment Partners LLC increased its stake in United Rentals by 11.3% during the second quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company's stock worth $1,661,000 after acquiring an additional 223 shares during the last quarter. Finally, Diversify Advisory Services LLC raised its position in United Rentals by 338.7% during the second quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company's stock valued at $1,246,000 after purchasing an additional 1,277 shares during the period. Institutional investors own 96.26% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. KeyCorp reaffirmed an "overweight" rating and issued a $1,350.00 price objective on shares of United Rentals in a research note on Friday, July 24th. Argus restated a "buy" rating and set a $1,250.00 price target on shares of United Rentals in a report on Tuesday, August 4th. Citigroup raised their price target on 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. Zacks Research raised shares of United Rentals from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Finally, Barclays raised their target price on shares of United Rentals from $715.00 to $950.00 and gave the stock an "underweight" rating in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $1,246.19.

Insider Buying and Selling at United Rentals

In related news, EVP William E. Grace sold 1,500 shares of the business's stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 6,062 shares in the company, valued at approximately $6,869,155.30. The trade was a 19.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.47% of the company's stock.

United Rentals Stock Up 0.1%

NYSE:URI opened at $1,155.25 on Monday. The company has a market cap of $71.90 billion, a price-to-earnings ratio of 27.74, a price-to-earnings-growth ratio of 1.49 and a beta of 1.80. United Rentals, Inc. has a twelve month low of $701.59 and a twelve 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. The stock has a fifty day simple moving average of $1,095.03 and a 200-day simple moving average of $940.62.

United Rentals (NYSE:URI - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 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 company had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter last year, the firm posted $10.47 EPS. The firm's revenue was up 11.8% compared to the same quarter last year. Analysts anticipate that United Rentals, Inc. will post 48.55 EPS for the current year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be paid 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 of this dividend is Wednesday, August 12th. United Rentals's payout ratio is currently 18.92%.

About United Rentals

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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