Legal & General Group Plc Buys Shares of 363,580 United Rentals, Inc. $URI

Key Points

• Legal & General Group Plc acquired 363,580 United Rentals shares worth approximately $411.9 million, giving it a 0.58% stake. Institutional investors collectively own 96.26% of the company.
• United Rentals reported stronger-than-expected quarterly results, with EPS of $12.76 and revenue of $4.41 billion, up 11.8% year over year. Shares were trading at $1,052.07, down 2.9%.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and an average price target of $1,246.19. The company also declared a quarterly dividend of $1.97 per share, equivalent to a 0.7% annual yield.

Legal & General Group Plc purchased a new position in shares of United Rentals, Inc. (NYSE:URI - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 363,580 shares of the construction company's stock, valued at approximately $411,896,000. Legal & General Group Plc owned about 0.58% of United Rentals as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Core Wealth Advisors LLC acquired a new stake in shares of United Rentals in the fourth quarter worth $28,000. MV Capital Management Inc. bought a new position in United Rentals during the fourth quarter worth $28,000. Clal Insurance Enterprises Holdings Ltd acquired a new position in United Rentals during the 2nd quarter valued at $29,000. MidFirst Bank bought a new stake in United Rentals in the 2nd quarter valued at $31,000. Finally, Laurel Wealth Advisors LLC bought a new stake in United Rentals in the 4th quarter valued at $32,000. 96.26% of the stock is owned by institutional investors.

United Rentals Trading Down 2.9%

Shares of United Rentals stock opened at $1,052.07 on Wednesday. United Rentals, Inc. has a 52-week low of $701.59 and a 52-week high of $1,179.18. The firm has a market capitalization of $65.48 billion, a PE ratio of 25.27, a price-to-earnings-growth ratio of 1.40 and a beta of 1.80. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.70. The company's fifty day moving average price is $1,098.88 and its two-hundred day moving average price is $954.20.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, topping analysts' consensus estimates of $11.53 by $1.23. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same period last year, the firm earned $10.47 EPS. The firm's revenue for the quarter was up 11.8% compared to the same quarter last year. On average, analysts expect that United Rentals, Inc. will post 48.55 EPS for the current year.

United Rentals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be paid a dividend of $1.97 per share. The ex-dividend date is Wednesday, August 12th. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. United Rentals's dividend payout ratio (DPR) is currently 18.92%.

Wall Street Analyst Weigh In

Several analysts have issued reports on URI shares. Robert W. Baird set a $1,300.00 price target on shares of United Rentals in a research report on Friday, July 24th. Citigroup upped their price objective on shares of United Rentals from $1,270.00 to $1,330.00 and gave the company a "buy" rating in a research report on Friday, July 24th. JPMorgan Chase & Co. increased their target price on shares of United Rentals from $1,100.00 to $1,235.00 and gave the company an "overweight" rating in a research note on Friday, July 24th. Wells Fargo & Company lifted their target price on United Rentals from $1,245.00 to $1,355.00 and gave the stock an "overweight" rating in a research report on Friday, July 24th. Finally, Argus restated a "buy" rating and set a $1,250.00 price target on shares of United Rentals in a research note on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,246.19.

Insider Buying and Selling

In other United Rentals news, EVP William E. Grace sold 1,500 shares of United Rentals stock in a transaction that occurred on Friday, July 24th. The stock was 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.47% of the stock is currently owned by corporate insiders.

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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