OLD National Bancorp IN Buys 1,174 Shares of United Rentals, Inc. $URI

Key Points

• OLD National Bancorp IN increased its stake in United Rentals, Inc. by 139.9%, owning a total of 2,013 shares valued at approximately $1.52 million.
• Several large investors have also enhanced their positions, with institutions owning 96.26% of United Rentals' stock.
• Analysts have given United Rentals a consensus "Moderate Buy" rating, with target prices ranging from $900.00 to $1,128.00.

OLD National Bancorp IN raised its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 139.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,013 shares of the construction company's stock after purchasing an additional 1,174 shares during the quarter. OLD National Bancorp IN's holdings in United Rentals were worth $1,517,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in URI. Fourth Dimension Wealth LLC bought a new position in United Rentals during the first quarter valued at about $26,000. TruNorth Capital Management LLC lifted its position in shares of United Rentals by 1,266.7% in the 1st quarter. TruNorth Capital Management LLC now owns 41 shares of the construction company's stock worth $26,000 after acquiring an additional 38 shares during the period. Flaharty Asset Management LLC acquired a new stake in shares of United Rentals during the 1st quarter worth approximately $30,000. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of United Rentals by 69.0% during the first 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 period. Finally, Maseco LLP bought a new stake in shares of United Rentals during the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 96.26% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on URI shares. Truist Financial lifted their price target on shares of United Rentals from $786.00 to $952.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Bank of America lifted their target price on shares of United Rentals from $895.00 to $900.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Robert W. Baird raised shares of United Rentals from a "neutral" rating to an "outperform" rating and upped their target price for the company from $888.00 to $1,050.00 in a research note on Wednesday, October 1st. Argus set a $935.00 price target on shares of United Rentals in a research note on Tuesday, August 12th. Finally, Sanford C. Bernstein set a $1,128.00 price objective on United Rentals and gave the company an "outperform" rating in a report on Tuesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, United Rentals has a consensus rating of "Moderate Buy" and a consensus target price of $941.00.

United Rentals Price Performance

NYSE:URI opened at $986.21 on Tuesday. The firm has a market cap of $63.45 billion, a PE ratio of 25.50, a price-to-earnings-growth ratio of 2.27 and a beta of 1.73. The company's 50-day moving average price is $929.39 and its two-hundred day moving average price is $777.32. The company has a quick ratio of 0.80, a current ratio of 0.86 and a debt-to-equity ratio of 1.34. United Rentals, Inc. has a 12 month low of $525.91 and a 12 month high of $997.50.

United Rentals (NYSE:URI - Get Free Report) last posted 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 firm had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.90 billion. United Rentals had a net margin of 16.11% and a return on equity of 32.01%. The business's revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the firm posted $10.70 EPS. United Rentals has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th were issued a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, August 13th. United Rentals's payout ratio is currently 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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