Meridian Wealth Management LLC Takes $302,000 Position in United Rentals, Inc. (NYSE:URI)

Key Points

• Meridian Wealth Management LLC acquired a new stake in United Rentals, purchasing 482 shares worth approximately $302,000 in the first quarter.
• Multiple analysts have boosted their price targets for United Rentals, with JPMorgan Chase increasing it from $920.00 to $950.00 and Bank of America raising theirs from $895.00 to $900.00.
• United Rentals has announced a quarterly dividend of $1.79 per share, contributing to an annualized dividend yield of 0.8% with a payout ratio of 18.52%.

Meridian Wealth Management LLC bought a new position in shares of United Rentals, Inc. (NYSE:URI - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 482 shares of the construction company's stock, valued at approximately $302,000.

Several other institutional investors also recently bought and sold shares of URI. Elevation Point Wealth Partners LLC boosted its holdings in United Rentals by 32.9% in the first quarter. Elevation Point Wealth Partners LLC now owns 2,220 shares of the construction company's stock valued at $1,391,000 after purchasing an additional 550 shares during the last quarter. Dynamic Advisor Solutions LLC purchased a new stake in shares of United Rentals during the 1st quarter worth about $602,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of United Rentals by 12.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,160 shares of the construction company's stock worth $4,488,000 after acquiring an additional 789 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of United Rentals by 101.6% during the 1st quarter. Farther Finance Advisors LLC now owns 859 shares of the construction company's stock worth $543,000 after acquiring an additional 433 shares in the last quarter. Finally, Brookwood Investment Group LLC purchased a new stake in shares of United Rentals during the 1st quarter worth about $2,966,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Price Performance

URI stock traded down $11.14 during mid-day trading on Friday, reaching $910.31. The company's stock had a trading volume of 372,708 shares, compared to its average volume of 626,014. The stock has a market cap of $58.57 billion, a PE ratio of 23.54, a P/E/G ratio of 2.13 and a beta of 1.72. The company has a current ratio of 0.86, a quick ratio of 0.80 and a debt-to-equity ratio of 1.34. United Rentals, Inc. has a fifty-two week low of $525.91 and a fifty-two week high of $933.32. The company's 50 day moving average is $801.52 and its two-hundred day moving average is $708.49.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The construction company reported $10.47 EPS for the quarter, missing analysts' consensus estimates of $10.54 by ($0.07). The business had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.90 billion. United Rentals had a net margin of 16.11% and a return on equity of 32.01%. The firm's revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $10.70 EPS. Equities research analysts expect that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th will be issued a $1.79 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $7.16 dividend on an annualized basis and a yield of 0.8%. United Rentals's dividend payout ratio is presently 18.52%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Redburn Atlantic lowered shares of United Rentals from a "buy" rating to a "neutral" rating and set a $760.00 target price on the stock. in a research note on Friday, June 13th. Citigroup restated a "buy" rating and set a $810.00 price target (up previously from $740.00) on shares of United Rentals in a research report on Tuesday, June 24th. Cfra Research upgraded shares of United Rentals to a "strong-buy" rating in a research report on Friday, April 25th. Robert W. Baird upped their price target on shares of United Rentals from $535.00 to $571.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. upped their price target on shares of United Rentals from $920.00 to $950.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $834.64.

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.