United Rentals, Inc. $URI Shares Sold by Lord Abbett & CO. LLC

Key Points

• Lord Abbett & CO. LLC decreased its stake in United Rentals, Inc. by 46.3%, selling 65,218 shares and retaining 75,720, equating to a 0.12% ownership valued at approximately $47.45 million.
• United Rentals recently announced a quarterly dividend of $1.79 per share, with a dividend yield of 0.8% and a payout ratio of 18.52%.
• Analysts have varying ratings on United Rentals, with an average target price of $834.64 and recent adjustments from firms like Goldman Sachs and UBS Group suggesting a potential for growth.

Lord Abbett & CO. LLC lessened its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 46.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,720 shares of the construction company's stock after selling 65,218 shares during the period. Lord Abbett & CO. LLC owned approximately 0.12% of United Rentals worth $47,454,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Fourth Dimension Wealth LLC bought a new stake in United Rentals in the 1st quarter worth approximately $26,000. TruNorth Capital Management LLC increased its stake in United Rentals by 1,266.7% during the first quarter. TruNorth Capital Management LLC now owns 41 shares of the construction company's stock worth $26,000 after acquiring an additional 38 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in United Rentals by 69.0% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 49 shares of the construction company's stock worth $31,000 after acquiring an additional 20 shares during the last quarter. Grove Bank & Trust bought a new stake in United Rentals during the first quarter worth approximately $36,000. Finally, NBC Securities Inc. bought a new stake in United Rentals during the first quarter worth approximately $40,000. Institutional investors own 96.26% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Evercore ISI reissued an "outperform" rating on shares of United Rentals in a research note on Tuesday. Morgan Stanley upped their target price on United Rentals from $702.00 to $955.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. JPMorgan Chase & Co. upped their target price on United Rentals from $920.00 to $950.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Barclays boosted their price target on United Rentals from $565.00 to $620.00 and gave the company an "underweight" rating in a report on Monday, July 21st. Finally, Truist Financial boosted their price target on United Rentals from $786.00 to $952.00 and gave the company a "buy" rating in a report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, United Rentals presently has a consensus rating of "Moderate Buy" and an average price target of $834.64.

United Rentals Stock Up 0.2%

Shares of URI traded up $1.41 during midday trading on Tuesday, hitting $915.45. 154,899 shares of the company's stock traded hands, compared to its average volume of 647,207. 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 firm's fifty day moving average is $805.67 and its 200-day moving average is $708.78. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year high of $933.32. The stock has a market capitalization of $58.90 billion, a price-to-earnings ratio of 23.69, a price-to-earnings-growth ratio of 2.10 and a beta of 1.72.

United Rentals (NYSE:URI - Get Free Report) last released its earnings results on Wednesday, July 23rd. The construction company reported $10.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.54 by ($0.07). United Rentals had a net margin of 16.11% and a return on equity of 32.01%. The firm had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.90 billion. During the same period in the previous year, the company earned $10.70 earnings per share. United Rentals's revenue was up 4.5% on a year-over-year basis. United Rentals has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate 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. Shareholders of record on Wednesday, August 13th will be given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, August 13th. United Rentals's dividend payout ratio (DPR) is currently 18.52%.

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.