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

Oak Asset Management LLC purchased a new position in shares of United Rentals, Inc. (NYSE:URI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 372 shares of the construction company's stock, valued at approximately $233,000.

Several other large investors have also modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in United Rentals by 15.4% during the third quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company's stock worth $637,968,000 after acquiring an additional 105,287 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in United Rentals during the fourth quarter worth about $16,253,000. DAVENPORT & Co LLC raised its stake in United Rentals by 35.3% during the fourth quarter. DAVENPORT & Co LLC now owns 1,001 shares of the construction company's stock worth $705,000 after acquiring an additional 261 shares during the period. CENTRAL TRUST Co raised its stake in United Rentals by 31.1% during the fourth quarter. CENTRAL TRUST Co now owns 674 shares of the construction company's stock worth $475,000 after acquiring an additional 160 shares during the period. Finally, E. Ohman J or Asset Management AB increased its stake in shares of United Rentals by 7.3% in the fourth quarter. E. Ohman J or Asset Management AB now owns 2,950 shares of the construction company's stock valued at $2,078,000 after purchasing an additional 200 shares during the period. Institutional investors own 96.26% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on URI. UBS Group upgraded shares of United Rentals from a "sell" rating to a "neutral" rating and raised their price target for the company from $485.00 to $780.00 in a research note on Friday, May 16th. JPMorgan Chase & Co. raised their price target on shares of United Rentals from $780.00 to $920.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. Citigroup dropped their price target on shares of United Rentals from $720.00 to $650.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Truist Financial raised their price target on shares of United Rentals from $732.00 to $786.00 and gave the company a "buy" rating in a research note on Friday, April 25th. Finally, Morgan Stanley upgraded shares of United Rentals from an "equal weight" rating to an "overweight" rating and set a $702.00 price target on the stock in a research note on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $753.15.

Insider Buying and Selling

In related news, VP Andrew B. Limoges sold 708 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $705.86, for a total transaction of $499,748.88. Following the completion of the sale, the vice president now directly owns 1,921 shares in the company, valued at approximately $1,355,957.06. This trade represents a 26.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael D. Durand sold 1,100 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president now owns 8,748 shares of the company's stock, valued at $5,478,697.44. The trade was a 11.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by insiders.

United Rentals Price Performance

Shares of United Rentals stock traded up $7.84 on Friday, hitting $707.02. The company had a trading volume of 302,166 shares, compared to its average volume of 596,532. The business has a 50-day simple moving average of $650.15 and a 200-day simple moving average of $695.46. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92. The company has a market cap of $45.96 billion, a PE ratio of 18.25, a PEG ratio of 1.43 and a beta of 1.71. United Rentals, Inc. has a 52 week low of $525.91 and a 52 week high of $896.98.

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

United Rentals Announces Dividend

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

United Rentals 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.