Fred Alger Management LLC Has $12.44 Million Stock Holdings in United Rentals, Inc. $URI

Key Points

• Fred Alger Management LLC increased its stake in United Rentals, Inc. (NYSE: URI) by 175.3% in the 1st quarter, raising its holdings to $12.44 million valued at 19,852 shares.
• Several hedge funds have also significantly increased their holdings, with institutional investors now owning 96.26% of the company's stock.
• Analyst ratings for United Rentals have been positive, with Morgan Stanley raising the price target from $702 to $955 and a current average target price of $842.86.

Fred Alger Management LLC raised its position in United Rentals, Inc. (NYSE:URI - Free Report) by 175.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,852 shares of the construction company's stock after buying an additional 12,642 shares during the period. Fred Alger Management LLC's holdings in United Rentals were worth $12,441,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Challenger Wealth Management acquired a new position in shares of United Rentals during the first quarter worth approximately $219,000. Ashton Thomas Private Wealth LLC lifted its position in shares of United Rentals by 4.7% during the first quarter. Ashton Thomas Private Wealth LLC now owns 1,949 shares of the construction company's stock worth $1,221,000 after purchasing an additional 88 shares in the last quarter. Resources Management Corp CT ADV lifted its position in shares of United Rentals by 217.4% during the first quarter. Resources Management Corp CT ADV now owns 146 shares of the construction company's stock worth $91,000 after purchasing an additional 100 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of United Rentals by 96.6% during the first quarter. Jones Financial Companies Lllp now owns 2,884 shares of the construction company's stock worth $1,807,000 after purchasing an additional 1,417 shares in the last quarter. Finally, Talon Private Wealth LLC lifted its position in shares of United Rentals by 6,812.8% during the first quarter. Talon Private Wealth LLC now owns 2,696 shares of the construction company's stock worth $1,704,000 after purchasing an additional 2,657 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on URI shares. JPMorgan Chase & Co. boosted their price target on shares of United Rentals from $920.00 to $950.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Morgan Stanley boosted their price target on shares of United Rentals from $702.00 to $955.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. KeyCorp boosted their price target on shares of United Rentals from $960.00 to $1,075.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. Barclays boosted their price target on shares of United Rentals from $565.00 to $620.00 and gave the stock an "underweight" rating in a research note on Monday, July 21st. Finally, Citigroup reissued a "buy" rating and set a $810.00 price target (up from $740.00) on shares of United Rentals in a research note on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, United Rentals has an average rating of "Moderate Buy" and a consensus target price of $842.86.

United Rentals Stock Down 2.2%

Shares of URI stock traded down $20.98 during trading hours on Friday, hitting $938.61. 534,834 shares of the company were exchanged, compared to its average volume of 635,270. The business has a 50 day moving average of $883.26 and a two-hundred day moving average of $736.44. The company has a current ratio of 0.86, a quick ratio of 0.80 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 company has a market capitalization of $60.39 billion, a PE ratio of 24.27, a PEG ratio of 2.18 and a beta of 1.72.

United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings data 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). United Rentals had a return on equity of 32.01% and a net margin of 16.11%.The company had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same period in the prior year, the company earned $10.70 EPS. The firm's revenue was up 4.5% on a year-over-year basis. United Rentals has set its FY 2025 guidance at EPS. Analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th were given a dividend of $1.79 per share. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $7.16 annualized dividend and a yield of 0.8%. United Rentals's payout ratio is 18.52%.

About United Rentals

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.