JPMorgan Chase & Co. Boosts Stake in United Rentals, Inc. (NYSE:URI)

Key Points

• JPMorgan Chase & Co. increased its stake in United Rentals, Inc. by 98.1%, owning approximately 1.68% of the company worth $685.5 million after acquiring over 541,000 shares.
• United Rentals reported a quarterly EPS of $10.47, slightly missing estimates, but achieved a revenue of $3.94 billion, exceeding forecasts with a year-over-year growth of 4.5%.
• The company announced a quarterly dividend of $1.79 per share, representing a yield of 0.8%, with the dividend payout ratio at 18.52%.

JPMorgan Chase & Co. raised its position in United Rentals, Inc. (NYSE:URI - Free Report) by 98.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,093,805 shares of the construction company's stock after buying an additional 541,579 shares during the period. JPMorgan Chase & Co. owned approximately 1.68% of United Rentals worth $685,488,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in URI. FIL Ltd boosted its position in United Rentals by 58.9% in the 4th quarter. FIL Ltd now owns 8,929 shares of the construction company's stock valued at $6,290,000 after buying an additional 3,309 shares during the last quarter. Townsquare Capital LLC raised its stake in shares of United Rentals by 17.9% in the 4th quarter. Townsquare Capital LLC now owns 2,809 shares of the construction company's stock valued at $1,979,000 after purchasing an additional 426 shares in the last quarter. Optimize Financial Inc acquired a new stake in shares of United Rentals in the 4th quarter valued at about $212,000. Sagespring Wealth Partners LLC acquired a new stake in shares of United Rentals in the 4th quarter valued at about $331,000. Finally, BTG Pactual Asset Management US LLC raised its stake in shares of United Rentals by 17.4% in the 4th quarter. BTG Pactual Asset Management US LLC now owns 3,351 shares of the construction company's stock valued at $2,361,000 after purchasing an additional 497 shares in the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Price Performance

NYSE URI opened at $858.99 on Monday. United Rentals, Inc. has a 52 week low of $525.91 and a 52 week high of $903.60. The company has a current ratio of 0.86, a quick ratio of 0.80 and a debt-to-equity ratio of 1.34. The stock has a market cap of $55.27 billion, a price-to-earnings ratio of 22.21, a price-to-earnings-growth ratio of 1.98 and a beta of 1.72. The company has a 50-day moving average price of $780.39 and a two-hundred day moving average price of $702.84.

United Rentals (NYSE:URI - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The construction company reported $10.47 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 firm had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter last year, the company posted $10.70 EPS. United Rentals's revenue for the quarter was up 4.5% on a year-over-year basis. Analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on URI shares. Barclays upped their target price on shares of United Rentals from $565.00 to $620.00 and gave the company an "underweight" rating in a research note on Monday, July 21st. Citigroup restated a "buy" rating and issued a $810.00 target price (up previously from $740.00) on shares of United Rentals in a research note on Tuesday, June 24th. Bank of America upped their target price on shares of United Rentals from $895.00 to $900.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Evercore ISI cut their target price on shares of United Rentals from $974.00 to $921.00 and set an "outperform" rating on the stock in a research note on Monday, May 19th. Finally, Redburn Atlantic lowered shares of United Rentals from a "buy" rating to a "neutral" rating and set a $760.00 target price on the stock. in a research note on Friday, June 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, United Rentals currently has an average rating of "Moderate Buy" and a consensus price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.