Invesco Ltd. Has $369.13 Million Stake in United Rentals, Inc. (NYSE:URI)

Key Points

• Invesco Ltd. reduced its stake in United Rentals, Inc. by 36.1%, owning approximately $369 million after selling 333,453 shares.
• GAMMA Investing LLC has significantly increased its holdings in United Rentals by over 77,000% during the same quarter, while other hedge funds, including JPMorgan Chase & Co., also boosted their positions.
• United Rentals reported earnings per share of $10.47, slightly below the consensus estimate, but its revenue increased by 4.5% year-over-year to $3.94 billion.

Invesco Ltd. decreased its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 36.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 588,999 shares of the construction company's stock after selling 333,453 shares during the period. Invesco Ltd. owned about 0.91% of United Rentals worth $369,126,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of URI. GAMMA Investing LLC increased its holdings in shares of United Rentals by 77,674.5% during the first quarter. GAMMA Investing LLC now owns 887,407 shares of the construction company's stock worth $556,138,000 after buying an additional 886,266 shares in the last quarter. JPMorgan Chase & Co. increased its holdings 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 worth $685,488,000 after buying an additional 541,579 shares in the last quarter. Leigh Baldwin & CO. LLC acquired a new stake in shares of United Rentals in the fourth quarter valued at approximately $330,989,000. Capital World Investors raised its position in United Rentals by 17.1% in the 4th quarter. Capital World Investors now owns 2,221,228 shares of the construction company's stock worth $1,564,722,000 after purchasing an additional 323,636 shares during the last quarter. Finally, Capital International Investors raised its position in United Rentals by 41.0% in the 4th quarter. Capital International Investors now owns 1,051,365 shares of the construction company's stock worth $740,624,000 after purchasing an additional 305,491 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company's stock.

United Rentals Price Performance

Shares of URI stock opened at $869.68 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.86 and a debt-to-equity ratio of 1.34. United Rentals, Inc. has a 12-month low of $525.91 and a 12-month high of $903.60. The firm has a fifty day moving average of $783.97 and a 200-day moving average of $703.39. The firm has a market capitalization of $55.96 billion, a price-to-earnings ratio of 22.49, a price-to-earnings-growth ratio of 1.98 and a beta of 1.72.

United Rentals (NYSE:URI - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The construction company reported $10.47 earnings per share for the quarter, missing the consensus estimate of $10.54 by ($0.07). The business had revenue of $3.94 billion for 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 business's revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $10.70 earnings per share. On average, equities research analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on URI shares. Evercore ISI dropped their price objective on shares of United Rentals from $974.00 to $921.00 and set an "outperform" rating for the company in a research report on Monday, May 19th. Truist Financial boosted their price objective on shares of United Rentals from $786.00 to $952.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Bank of America boosted their price objective on shares of United Rentals from $895.00 to $900.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. boosted their price objective on shares of United Rentals from $920.00 to $950.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Robert W. Baird boosted their price objective on shares of United Rentals from $535.00 to $571.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, United Rentals currently has a consensus rating of "Moderate Buy" and a consensus target price of $830.71.

United Rentals Company 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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