Nuveen LLC Invests $402.29 Million in United Rentals, Inc. (NYSE:URI)

Key Points

• Nuveen LLC acquired 641,920 shares of United Rentals, Inc. for approximately $402 million, representing a 0.99% ownership stake as of their latest SEC filing.
• United Rentals reported earnings of $10.47 per share, missing estimates by 7 cents, while revenue for the quarter reached $3.94 billion, above expectations.
• The company declared a quarterly dividend of $1.79 per share, with an annualized yield of 0.8% and a dividend payout ratio of 18.52%.

Nuveen LLC acquired a new position in shares of United Rentals, Inc. (NYSE:URI - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 641,920 shares of the construction company's stock, valued at approximately $402,291,000. Nuveen LLC owned 0.99% of United Rentals as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elevation Point Wealth Partners LLC lifted its holdings in shares of United Rentals by 32.9% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 2,220 shares of the construction company's stock worth $1,391,000 after acquiring an additional 550 shares during the period. Dynamic Advisor Solutions LLC acquired a new stake in shares of United Rentals during the 1st quarter worth about $602,000. Wealth Enhancement Advisory Services LLC increased its position 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 purchasing an additional 789 shares in the last quarter. Farther Finance Advisors LLC increased its position 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 purchasing an additional 433 shares in the last quarter. Finally, Brookwood Investment Group LLC acquired 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 institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on URI shares. Redburn Atlantic cut shares of United Rentals from a "buy" rating to a "neutral" rating and set a $760.00 target price for the company. in a research report on Friday, June 13th. UBS Group increased their target price on shares of United Rentals from $780.00 to $835.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Bank of America increased their target price on shares of United Rentals from $895.00 to $900.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. increased their target price 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. Finally, Cfra Research upgraded shares of United Rentals to a "strong-buy" rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $834.64.

United Rentals Price Performance

Shares of URI traded up $47.44 during mid-day trading on Tuesday, hitting $917.14. 695,847 shares of the company traded hands, compared to its average volume of 643,999. United Rentals, Inc. has a one year low of $525.91 and a one year high of $918.72. The company has a current ratio of 0.86, a quick ratio of 0.80 and a debt-to-equity ratio of 1.34. The business has a 50-day moving average of $788.26 and a 200 day moving average of $704.88. The stock has a market capitalization of $59.01 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 2.01 and a beta of 1.72.

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

United Rentals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th will be given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend 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%.

About United Rentals

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.