Oak Ridge Investments LLC Grows Position in United Rentals, Inc. (NYSE:URI)

Key Points

• Oak Ridge Investments LLC increased its stake in United Rentals, Inc. by 6.2% during the 1st quarter, now holding shares worth approximately $4.94 million.
• Several investment firms have raised their price targets for United Rentals, with JPMorgan Chase setting a new target of $950.00, reflecting a general optimism in the stock's performance.
• United Rentals has announced a quarterly dividend of $1.79, representing a 0.8% yield, with a payout ratio of 18.52%.

Oak Ridge Investments LLC grew its stake in United Rentals, Inc. (NYSE:URI - Free Report) by 6.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,880 shares of the construction company's stock after purchasing an additional 457 shares during the period. Oak Ridge Investments LLC's holdings in United Rentals were worth $4,938,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Fourth Dimension Wealth LLC acquired a new position in shares of United Rentals during the 1st quarter worth approximately $26,000. TruNorth Capital Management LLC raised its stake in shares of United Rentals by 1,266.7% during the 1st quarter. TruNorth Capital Management LLC now owns 41 shares of the construction company's stock worth $26,000 after buying an additional 38 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its stake in United Rentals by 69.0% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 49 shares of the construction company's stock valued at $31,000 after purchasing an additional 20 shares during the last quarter. Grove Bank & Trust acquired a new position in United Rentals in the 1st quarter valued at $36,000. Finally, NBC Securities Inc. acquired a new position in United Rentals in the 1st quarter valued at $40,000. Hedge funds and other institutional investors own 96.26% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on URI. JPMorgan Chase & Co. increased their price objective on United Rentals from $920.00 to $950.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Bank of America increased their price objective on United Rentals from $895.00 to $900.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Argus set a $935.00 price objective on United Rentals in a research note on Tuesday. Robert W. Baird increased their price objective on United Rentals from $535.00 to $571.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Finally, Citigroup reissued a "buy" rating and issued a $810.00 price objective (up from $740.00) on shares of United Rentals in a research note on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, United Rentals presently has a consensus rating of "Moderate Buy" and a consensus target price of $834.64.

United Rentals Trading Up 1.7%

NYSE:URI opened at $932.51 on Thursday. The firm has a market cap of $60.00 billion, a P/E ratio of 24.11, a PEG ratio of 2.12 and a beta of 1.72. 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 stock's 50 day simple moving average is $792.97 and its 200-day simple moving average is $706.45. United Rentals, Inc. has a 12-month low of $525.91 and a 12-month high of $933.32.

United Rentals (NYSE:URI - Get Free Report) last released its earnings results 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). The company had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.90 billion. United Rentals had a net margin of 16.11% and a return on equity of 32.01%. The company's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $10.70 EPS. Equities analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th will be issued a $1.79 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 0.8%. United Rentals's payout ratio is presently 18.52%.

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.

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