OMERS ADMINISTRATION Corp purchased a new position in United Rentals, Inc. (NYSE:URI - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,544 shares of the construction company's stock, valued at approximately $4,015,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. SFE Investment Counsel acquired a new stake in shares of United Rentals during the 2nd quarter worth approximately $12,765,000. Eventide Asset Management LLC boosted its holdings in United Rentals by 19.6% during the fourth quarter. Eventide Asset Management LLC now owns 95,940 shares of the construction company's stock worth $77,666,000 after buying an additional 15,696 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in United Rentals by 52.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,241 shares of the construction company's stock worth $2,623,000 after buying an additional 1,109 shares in the last quarter. WINTON GROUP Ltd grew its position in United Rentals by 995.1% during the fourth quarter. WINTON GROUP Ltd now owns 13,612 shares of the construction company's stock valued at $11,016,000 after buying an additional 12,369 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in United Rentals by 9.7% during the first quarter. Geneos Wealth Management Inc. now owns 10,782 shares of the construction company's stock valued at $7,855,000 after buying an additional 950 shares during the period. 96.26% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, EVP William E. Grace sold 1,500 shares of the company's stock in a transaction on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the completion of the sale, the executive vice president owned 6,062 shares of the company's stock, valued at $6,869,155.30. This represents a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is owned by insiders.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of United Rentals from $1,100.00 to $1,235.00 and gave the stock an "overweight" rating in a research note on Friday, July 24th. Morgan Stanley set a $1,335.00 price target on United Rentals and gave the company an "overweight" rating in a research note on Friday, July 24th. Robert W. Baird set a $1,300.00 price target on United Rentals in a report on Friday, July 24th. KeyCorp reiterated an "overweight" rating and set a $1,350.00 price target on shares of United Rentals in a research report on Friday, July 24th. Finally, Wall Street Zen raised United Rentals from a "hold" rating to a "buy" rating in a report on Saturday, July 25th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, United Rentals has an average rating of "Moderate Buy" and an average target price of $1,246.19.
Check Out Our Latest Stock Analysis on URI
United Rentals Price Performance
Shares of United Rentals stock opened at $1,052.07 on Wednesday. The business has a 50 day simple moving average of $1,098.88 and a two-hundred day simple moving average of $954.20. United Rentals, Inc. has a 12 month low of $701.59 and a 12 month high of $1,179.18. The stock has a market capitalization of $65.48 billion, a P/E ratio of 25.27, a PEG ratio of 1.40 and a beta of 1.80. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.70.
United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $11.53 by $1.23. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same period in the previous year, the company posted $10.47 earnings per share. The business's revenue was up 11.8% on a year-over-year basis. As a group, analysts predict that United Rentals, Inc. will post 48.55 EPS for the current fiscal year.
United Rentals Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be paid a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, August 12th. United Rentals's payout ratio is 18.92%.
About United Rentals
(
Free Report)
United Rentals, Inc NYSE: URI is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.
The company's product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.
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