LGT Capital Partners LTD. Makes New Investment in United Rentals, Inc. (NYSE:URI)

Key Points

• LGT Capital Partners LTD. invested approximately $34.75 million in United Rentals, acquiring 55,444 shares, which constitutes around 1.5% of their total portfolio.
• Multiple institutional investors, including Banco Santander S.A. and Mirabaud & Cie SA, increased their stakes in United Rentals during the first quarter, reflecting strong institutional interest in the company.
• Recent analyst ratings for United Rentals show a consensus of "Moderate Buy" with varying price targets, indicating a generally positive outlook despite a recent 2.6% decline in stock price.

LGT Capital Partners LTD. purchased a new stake in United Rentals, Inc. (NYSE:URI - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 55,444 shares of the construction company's stock, valued at approximately $34,747,000. United Rentals comprises about 1.5% of LGT Capital Partners LTD.'s investment portfolio, making the stock its 25th biggest position. LGT Capital Partners LTD. owned about 0.09% of United Rentals at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Huntington National Bank raised its stake in United Rentals by 8.8% during the 4th quarter. Huntington National Bank now owns 385 shares of the construction company's stock valued at $271,000 after acquiring an additional 31 shares during the last quarter. Arete Wealth Advisors LLC grew its position in United Rentals by 99.0% in the 4th quarter. Arete Wealth Advisors LLC now owns 613 shares of the construction company's stock valued at $432,000 after buying an additional 305 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new position in United Rentals in the 4th quarter valued at $802,000. Prudential PLC raised its position in United Rentals by 6.4% during the 4th quarter. Prudential PLC now owns 21,424 shares of the construction company's stock worth $15,092,000 after buying an additional 1,286 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. acquired a new stake in shares of United Rentals in the 4th quarter worth $14,071,000. Institutional investors and hedge funds own 96.26% of the company's stock.

United Rentals Trading Down 1.0%

Shares of NYSE URI traded down $8.68 during midday trading on Thursday, hitting $852.58. 118,914 shares of the company traded hands, compared to its average volume of 657,468. The firm has a market cap of $54.86 billion, a P/E ratio of 22.05, a P/E/G ratio of 2.00 and a beta of 1.72. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.80 and a current ratio of 0.86. United Rentals, Inc. has a 12-month low of $525.91 and a 12-month high of $903.60. The stock has a 50-day moving average price of $774.58 and a 200 day moving average price of $702.91.

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 analysts' consensus estimates 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 analysts' expectations of $3.90 billion. During the same quarter in the prior year, the firm posted $10.70 earnings per share. United Rentals's quarterly revenue was up 4.5% on a year-over-year basis. As a group, analysts expect that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.8%. United Rentals's dividend payout ratio is 18.52%.

Insider Activity

In related news, VP Andrew B. Limoges sold 708 shares of United Rentals stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $705.86, for a total value of $499,748.88. Following the completion of the sale, the vice president owned 1,921 shares in the company, valued at approximately $1,355,957.06. This trade represents a 26.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.53% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on URI shares. The Goldman Sachs Group raised their price target on United Rentals from $770.00 to $850.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. UBS Group upped their target price on shares of United Rentals from $780.00 to $835.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. lifted their price target on shares of United Rentals from $920.00 to $950.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Cfra Research raised United Rentals to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Truist Financial lifted their price target on United Rentals from $786.00 to $952.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, United Rentals has a consensus rating of "Moderate Buy" and an average target price of $830.71.

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.