K.J. Harrison & Partners Inc Invests $1.59 Million in United Rentals, Inc. $URI

Key Points

• K.J. Harrison & Partners acquired 1,400 United Rentals shares worth approximately $1.59 million in the second quarter. Institutional investors and hedge funds collectively own 96.26% of the company.
• United Rentals exceeded quarterly expectations, reporting $12.76 in EPS and $4.41 billion in revenue, with revenue up 11.8% year over year.
• Analysts largely remain bullish, with a consensus “Moderate Buy” rating and a $1,246.19 price target; the company also declared a quarterly dividend of $1.97 per share.

K.J. Harrison & Partners Inc acquired a new position in shares of United Rentals, Inc. (NYSE:URI - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,400 shares of the construction company's stock, valued at approximately $1,586,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of United Rentals in the second quarter valued at about $5,816,326,000. Norges Bank acquired a new stake in United Rentals in the 4th quarter worth about $978,017,000. Bank of New York Mellon Corp bought a new stake in United Rentals in the 2nd quarter valued at about $412,860,000. Corient Private Wealth LLC boosted its holdings in United Rentals by 1,667.4% in the 4th quarter. Corient Private Wealth LLC now owns 343,965 shares of the construction company's stock valued at $278,378,000 after purchasing an additional 324,503 shares during the period. Finally, Deutsche Bank AG bought a new stake in United Rentals in the 2nd quarter valued at about $218,508,000. Institutional investors and hedge funds own 96.26% of the company's stock.

Insider Activity

In related news, EVP William E. Grace sold 1,500 shares of United Rentals stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the sale, the executive vice president directly owned 6,062 shares of the company's stock, valued at approximately $6,869,155.30. The trade was a 19.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.47% of the company's stock.

United Rentals Price Performance

Shares of URI stock opened at $1,166.11 on Tuesday. The business has a fifty day simple moving average of $1,096.63 and a 200 day simple moving average of $942.44. The company has a market cap of $72.58 billion, a P/E ratio of 28.00, a P/E/G ratio of 1.49 and a beta of 1.80. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38. United Rentals, Inc. has a twelve month low of $701.59 and a twelve month high of $1,179.18.

United Rentals (NYSE:URI - Get Free Report) last released its earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $11.53 by $1.23. The firm had revenue of $4.41 billion for the quarter, compared to analysts' expectations of $4.22 billion. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The business's revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $10.47 earnings per share. On average, sell-side analysts forecast that United Rentals, Inc. will post 48.55 EPS for the current fiscal year.

United Rentals Announces Dividend

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 $1.97 dividend. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, August 12th. United Rentals's dividend payout ratio (DPR) is presently 18.92%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on URI shares. Citigroup raised their target price on shares of United Rentals from $1,270.00 to $1,330.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Weiss Ratings upgraded United Rentals from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 23rd. Truist Financial increased their price target on United Rentals from $1,421.00 to $1,466.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Morgan Stanley set a $1,335.00 price objective on United Rentals and gave the stock an "overweight" rating in a research note on Friday, July 24th. Finally, Bank of America lifted their price objective on United Rentals from $1,195.00 to $1,300.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, United Rentals currently has an average rating of "Moderate Buy" and a consensus price target of $1,246.19.

United Rentals Company Profile

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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