Northwestern Mutual Wealth Management Co. Invests $8.19 Million in United Rentals, Inc. $URI

Key Points

• Northwestern Mutual Wealth Management purchased 7,231 United Rentals shares worth approximately $8.19 million in the second quarter. Institutional investors 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 rising 11.8% year over year.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $1,246.19, above its reported $1,095.21 opening price.

Northwestern Mutual Wealth Management Co. purchased 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 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,231 shares of the construction company's stock, valued at approximately $8,191,000.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new position in United Rentals during the 2nd quarter worth approximately $5,816,326,000. Norges Bank acquired a new stake in United Rentals during the 4th quarter valued at $978,017,000. Bank of New York Mellon Corp purchased a new stake in shares of United Rentals in the second quarter valued at $412,860,000. Corient Private Wealth LLC lifted its holdings in shares of United Rentals by 1,667.4% in the fourth quarter. Corient Private Wealth LLC now owns 343,965 shares of the construction company's stock valued at $278,378,000 after purchasing an additional 324,503 shares in the last quarter. Finally, W1M Asset Management Ltd acquired a new stake in shares of United Rentals in the second quarter worth $337,323,000. Hedge funds and other institutional investors own 96.26% of the company's stock.

Insiders Place Their Bets

In other news, EVP William E. Grace sold 1,500 shares of the firm's stock in a transaction on 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 completion of the sale, the executive vice president directly owned 6,062 shares in the company, valued at approximately $6,869,155.30. This trade represents a 19.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.47% of the stock is owned by corporate insiders.

United Rentals Stock Performance

Shares of NYSE URI opened at $1,095.21 on Monday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.70. United Rentals, Inc. has a one year low of $701.59 and a one year high of $1,179.18. The business's 50-day moving average price is $1,099.22 and its two-hundred day moving average price is $950.71. The company has a market capitalization of $68.17 billion, a P/E ratio of 26.30, a price-to-earnings-growth ratio of 1.42 and a beta of 1.80.

United Rentals (NYSE:URI - Get Free Report) last posted its earnings results on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the previous year, the firm posted $10.47 earnings per share. The company's revenue for the quarter was up 11.8% compared to the same quarter last year. Analysts anticipate that United Rentals, Inc. will post 48.55 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be issued a dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, August 12th. United Rentals's dividend payout ratio (DPR) is currently 18.92%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on URI. Evercore reissued an "outperform" rating and set a $1,101.00 price target on shares of United Rentals in a research report on Monday, May 11th. Raymond James Financial restated an "outperform" rating and set a $1,275.00 price objective on shares of United Rentals in a research report on Wednesday, June 10th. Zacks Research upgraded United Rentals from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. BNP Paribas Exane raised shares of United Rentals from a "neutral" rating to an "outperform" rating and set a $1,320.00 price target for the company in a research report on Monday, June 29th. Finally, Morgan Stanley set a $1,335.00 price target on shares of United Rentals and gave the stock an "overweight" rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, United Rentals currently has an average rating of "Moderate Buy" and an average target price of $1,246.19.

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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