NEOS Investment Management LLC Acquires 1,199 Shares of United Rentals, Inc. $URI

Key Points

• NEOS Investment Management increased its United Rentals stake by 14% in the second quarter, purchasing 1,199 additional shares and bringing its holdings to 9,793 shares valued at approximately $11.1 million. Institutional investors and hedge funds collectively own 96.26% of the company.
• United Rentals exceeded quarterly expectations, reporting $12.76 in earnings per share and $4.41 billion in revenue, with revenue up 11.8% year over year. The company also paid a quarterly dividend of $1.97 per share, representing a 0.8% annualized yield.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $1,246.19. Price targets were raised by several firms, although Barclays maintained an “underweight” rating.

NEOS Investment Management LLC grew its holdings in United Rentals, Inc. (NYSE:URI - Free Report) by 14.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,793 shares of the construction company's stock after buying an additional 1,199 shares during the period. NEOS Investment Management LLC's holdings in United Rentals were worth $11,094,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. SFE Investment Counsel acquired a new stake in United Rentals during the 2nd quarter worth approximately $12,765,000. Eventide Asset Management LLC grew its holdings in United Rentals by 19.6% in the 4th quarter. Eventide Asset Management LLC now owns 95,940 shares of the construction company's stock valued at $77,666,000 after buying an additional 15,696 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in United Rentals by 52.0% in the 4th quarter. Sequoia Financial Advisors LLC now owns 3,241 shares of the construction company's stock valued at $2,623,000 after buying an additional 1,109 shares in the last quarter. Bridges Investment Management Inc. increased its position in United Rentals by 2.0% during the 4th quarter. Bridges Investment Management Inc. now owns 69,583 shares of the construction company's stock worth $56,315,000 after buying an additional 1,354 shares during the period. Finally, WINTON GROUP Ltd lifted its holdings in shares of United Rentals by 995.1% during the fourth quarter. WINTON GROUP Ltd now owns 13,612 shares of the construction company's stock worth $11,016,000 after buying an additional 12,369 shares in the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Stock Performance

Shares of NYSE:URI opened at $1,009.78 on Friday. United Rentals, Inc. has a 1 year low of $701.59 and a 1 year high of $1,179.18. The stock has a market capitalization of $62.85 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 1.49 and a beta of 1.79. 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 50 day simple moving average is $1,087.43 and its 200 day simple moving average is $961.69.

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

United Rentals Announces Dividend

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

Analyst Ratings Changes

URI has been the topic of a number of recent research reports. BNP Paribas Exane raised shares of United Rentals from a "neutral" rating to an "outperform" rating and set a $1,320.00 price target on the stock in a research report on Monday, June 29th. Wall Street Zen upgraded shares of United Rentals from a "hold" rating to a "buy" rating in a research report on Saturday, July 25th. Truist Financial lifted their price target on shares of United Rentals from $1,421.00 to $1,466.00 and gave the company a "buy" rating in a research report on Friday, July 24th. Barclays boosted their price target on United Rentals from $715.00 to $950.00 and gave the company an "underweight" rating in a research note on Friday, July 24th. Finally, Zacks Research upgraded United Rentals from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. One equities research 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 company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,246.19.

Insider Buying and Selling at United Rentals

In other news, EVP William Grace sold 1,500 shares of the company's stock in a transaction on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the completion of the transaction, the executive vice president directly owned 6,062 shares in the company, valued at approximately $6,869,155.30. This represents a 19.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.47% of the company's stock.

United Rentals 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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