Lombard Odier Asset Management Europe Ltd Buys Shares of 13,833 United Rentals, Inc. $URI

Key Points

• Lombard Odier Asset Management Europe purchased 13,833 United Rentals shares during the second quarter, valued at approximately $15.7 million. Institutional investors collectively own 96.26% of the company.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $1,246.19; several firms recently raised their targets to between $1,300 and $1,466.
• United Rentals reported quarterly earnings of $12.76 per share and revenue of $4.41 billion, exceeding estimates, while revenue increased 11.8% year over year. The company also paid a quarterly dividend of $1.97 per share, representing a 0.8% yield.

Lombard Odier Asset Management Europe Ltd bought a new stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 13,833 shares of the construction company's stock, valued at approximately $15,671,000.

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

Insider Transactions at United Rentals

In other United Rentals news, EVP William E. Grace sold 1,500 shares of United Rentals stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the transaction, the executive vice president owned 6,062 shares in the company, valued at $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 is available at the SEC website. 0.47% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on URI. UBS Group raised their price target on shares of United Rentals from $1,300.00 to $1,350.00 and gave the stock a "buy" rating in a research note on Thursday, July 23rd. Bank of America boosted their price objective on shares of United Rentals from $1,195.00 to $1,300.00 and gave the company a "buy" rating in a research report on Thursday, July 23rd. Wells Fargo & Company upped their target price on shares of United Rentals from $1,245.00 to $1,355.00 and gave the stock an "overweight" rating in a research note on Friday, July 24th. Raymond James Financial restated an "outperform" rating and issued a $1,275.00 target price on shares of United Rentals in a research note on Wednesday, June 10th. Finally, Truist Financial raised their target price on shares of 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. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, United Rentals has an average rating of "Moderate Buy" and a consensus price target of $1,246.19.

United Rentals Stock Performance

Shares of URI stock opened at $1,030.64 on Friday. The firm has a market cap of $64.15 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 1.34 and a beta of 1.80. The company's 50 day moving average is $1,097.31 and its 200 day moving average is $957.16. 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 52-week low of $701.59 and a 52-week high of $1,179.18.

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

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were paid a $1.97 dividend. This represents a $7.88 annualized dividend and a yield of 0.8%. The ex-dividend date was Wednesday, August 12th. United Rentals's payout ratio is 18.92%.

About United Rentals

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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