Griffin Asset Management Inc. Makes New Investment in United Rentals, Inc. $URI

Key Points

• Griffin Asset Management has acquired a new stake of 2,267 shares in United Rentals, Inc. valued at approximately $1.7 million during the second quarter.
• United Rentals' stock decreased by 2.9%, opening at $951.67, while analysts have set an average target price of $956.13 with a consensus rating of "Moderate Buy."
• The company recently announced a quarterly dividend of $1.79 per share, representing an annualized dividend yield of 0.8% and a payout ratio of 18.52%.

Griffin Asset Management Inc. purchased a new stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,267 shares of the construction company's stock, valued at approximately $1,708,000.

Several other large investors have also made changes to their positions in URI. Nuveen LLC acquired a new position in shares of United Rentals during the first quarter valued at $402,291,000. JPMorgan Chase & Co. lifted its stake in shares of United Rentals by 98.1% during the first quarter. JPMorgan Chase & Co. now owns 1,093,805 shares of the construction company's stock valued at $685,488,000 after acquiring an additional 541,579 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in shares of United Rentals during the second quarter valued at $152,069,000. The Manufacturers Life Insurance Company lifted its stake in shares of United Rentals by 28.8% during the first quarter. The Manufacturers Life Insurance Company now owns 849,786 shares of the construction company's stock valued at $532,561,000 after acquiring an additional 190,007 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in United Rentals by 22.3% in the first quarter. Goldman Sachs Group Inc. now owns 661,251 shares of the construction company's stock valued at $414,406,000 after purchasing an additional 120,449 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company's stock.

United Rentals Stock Down 2.9%

Shares of United Rentals stock opened at $951.67 on Monday. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year high of $1,004.92. The business has a 50-day moving average of $937.56 and a two-hundred day moving average of $786.57. The company has a market capitalization of $61.23 billion, a P/E ratio of 24.61, a price-to-earnings-growth ratio of 2.19 and a beta of 1.73. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.86 and a quick ratio of 0.80.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings results 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). The business had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.90 billion. United Rentals had a return on equity of 32.01% and a net margin of 16.11%.The firm's revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $10.70 earnings per share. United Rentals has set its FY 2025 guidance at EPS. As a group, equities analysts predict that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Dividend Announcement

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

Wall Street Analyst Weigh In

URI has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of United Rentals in a report on Wednesday, October 8th. Morgan Stanley upped their price objective on United Rentals from $702.00 to $955.00 and gave the company an "overweight" rating in a report on Monday, July 28th. UBS Group upped their price objective on United Rentals from $780.00 to $835.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. BNP Paribas Exane upgraded United Rentals from an "underperform" rating to a "neutral" rating and set a $900.00 price objective for the company in a report on Tuesday, September 16th. Finally, Baird R W upgraded United Rentals from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $956.13.

United Rentals Profile

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.

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