Oak Asset Management LLC Makes New Investment in United Rentals, Inc. (NYSE:URI)

Oak Asset Management LLC bought a new position in United Rentals, Inc. (NYSE:URI - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 372 shares of the construction company's stock, valued at approximately $233,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC purchased a new stake in shares of United Rentals during the 4th quarter worth approximately $25,000. Murphy & Mullick Capital Management Corp purchased a new stake in United Rentals during the fourth quarter valued at $27,000. Meeder Asset Management Inc. lifted its position in United Rentals by 241.7% during the fourth quarter. Meeder Asset Management Inc. now owns 41 shares of the construction company's stock valued at $29,000 after purchasing an additional 29 shares during the last quarter. Kestra Investment Management LLC purchased a new position in shares of United Rentals in the 4th quarter worth $34,000. Finally, OFI Invest Asset Management bought a new stake in shares of United Rentals in the 4th quarter worth about $36,000. 96.26% of the stock is owned by institutional investors.

United Rentals Trading Up 1.1%

URI stock traded up $7.84 during trading on Friday, hitting $707.02. The company had a trading volume of 302,166 shares, compared to its average volume of 596,485. United Rentals, Inc. has a 52-week low of $525.91 and a 52-week high of $896.98. The company has a 50 day simple moving average of $648.63 and a 200-day simple moving average of $698.11. The firm has a market capitalization of $45.96 billion, a P/E ratio of 18.25, a PEG ratio of 1.43 and a beta of 1.71. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42.

United Rentals (NYSE:URI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The construction company reported $8.86 earnings per share for the quarter, missing the consensus estimate of $8.92 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same period in the prior year, the firm posted $9.15 EPS. The business's revenue was up 6.7% on a year-over-year basis. As a group, research analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 1.01%. The ex-dividend date was Wednesday, May 14th. United Rentals's payout ratio is 18.54%.

Analysts Set New Price Targets

URI has been the subject of a number of analyst reports. Sanford C. Bernstein raised shares of United Rentals from an "underperform" rating to a "market perform" rating and lowered their price target for the company from $705.00 to $666.00 in a report on Tuesday, March 25th. JPMorgan Chase & Co. raised their price objective on United Rentals from $780.00 to $920.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. Truist Financial lifted their target price on United Rentals from $732.00 to $786.00 and gave the stock a "buy" rating in a report on Friday, April 25th. The Goldman Sachs Group boosted their target price on United Rentals from $770.00 to $850.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Finally, Robert W. Baird raised their price target on United Rentals from $535.00 to $571.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $753.15.

Insider Buying and Selling at United Rentals

In related news, EVP Michael D. Durand sold 1,100 shares of the company's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $626.28, for a total transaction of $688,908.00. Following the completion of the sale, the executive vice president now directly owns 8,748 shares in the company, valued at $5,478,697.44. This represents a 11.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Andrew B. Limoges sold 708 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $705.86, for a total transaction of $499,748.88. Following the sale, the vice president now directly owns 1,921 shares of the company's stock, valued at approximately $1,355,957.06. The trade was a 26.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.51% of the company's stock.

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.