NewEdge Advisors LLC Increases Holdings in United Rentals, Inc. $URI

Key Points

• NewEdge Advisors more than doubled its United Rentals position in the second quarter, purchasing 1,545 additional shares to own 3,002 shares valued at approximately $3.4 million. Institutional investors collectively own 96.26% of URI.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $1,230.88; several firms recently raised their targets or reiterated buy-equivalent ratings.
• United Rentals exceeded quarterly expectations, reporting $12.76 in EPS and $4.41 billion in revenue, up 11.8% year over year. The company also declared a quarterly dividend of $1.97 per share, equivalent to a 0.8% annualized yield.

NewEdge Advisors LLC increased its position in United Rentals, Inc. (NYSE:URI - Free Report) by 106.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,002 shares of the construction company's stock after purchasing an additional 1,545 shares during the quarter. NewEdge Advisors LLC's holdings in United Rentals were worth $3,401,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of URI. SFE Investment Counsel bought a new stake in shares of United Rentals in the 2nd quarter valued at about $12,765,000. Eventide Asset Management LLC lifted its position in shares of United Rentals by 19.6% in the 4th quarter. Eventide Asset Management LLC now owns 95,940 shares of the construction company's stock worth $77,666,000 after purchasing an additional 15,696 shares during the period. Bridges Investment Management Inc. boosted its stake in shares of United Rentals by 2.0% during the fourth quarter. Bridges Investment Management Inc. now owns 69,583 shares of the construction company's stock valued at $56,315,000 after purchasing an additional 1,354 shares in the last quarter. WINTON GROUP Ltd boosted its stake 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 valued at $11,016,000 after purchasing an additional 12,369 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in United Rentals by 9.7% during the first quarter. Geneos Wealth Management Inc. now owns 10,782 shares of the construction company's stock valued at $7,855,000 after buying an additional 950 shares during the period. 96.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Truist Financial upped their target price on United Rentals from $1,421.00 to $1,466.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Bank of America lifted their price target on United Rentals from $1,195.00 to $1,300.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. Weiss Ratings upgraded United Rentals from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 23rd. Citigroup restated a "buy" rating on shares of United Rentals in a research note on Monday. Finally, Morgan Stanley set a $1,335.00 price objective on United Rentals and gave the company an "overweight" rating in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,230.88.

United Rentals Stock Down 0.6%

Shares of URI stock opened at $988.17 on Wednesday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.70 and a current ratio of 0.76. The stock's 50-day simple moving average is $1,073.25 and its 200-day simple moving average is $968.28. United Rentals, Inc. has a fifty-two week low of $701.59 and a fifty-two week high of $1,179.18. The firm has a market capitalization of $61.50 billion, a PE ratio of 23.73, a P/E/G ratio of 1.46 and a beta of 1.79.

United Rentals (NYSE:URI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The construction company reported $12.76 EPS for the quarter, beating the consensus estimate of $11.53 by $1.23. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same period in the prior year, the company earned $10.47 earnings per share. The firm's revenue was up 11.8% on a year-over-year basis. Equities analysts expect that United Rentals, Inc. will post 48.7 earnings per share for the current year.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were given a dividend of $1.97 per share. The ex-dividend date was Wednesday, August 12th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.8%. United Rentals's dividend payout ratio (DPR) is 18.92%.

Insider Activity

In other news, EVP William Grace sold 1,500 shares of the business's stock in a transaction dated 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 sale, the executive vice president owned 6,062 shares of the company's stock, 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 this link. 0.47% of the stock is currently owned by company insiders.

About United Rentals

United Rentals, Inc is an equipment rental company serving construction, industrial, commercial, government and residential customers. The company provides access to a broad range of equipment without requiring customers to purchase and maintain their own fleets.

Its rental offerings include aerial work platforms, earthmoving equipment, material-handling equipment, trucks and trailers, power-generation and climate-control equipment, pumps, tools, trench-safety products and traffic-control equipment.

Want to see what other hedge funds are holding URI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Rentals, Inc. (NYSE:URI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.