Pettyjohn Wood & White Inc. Makes New Investment in United Rentals, Inc. (NYSE:URI)

Key Points

• Pettyjohn Wood & White Inc. has acquired a new stake in United Rentals, Inc., purchasing 1,368 shares valued at approximately $857,000 during the first quarter.
• Multiple institutional investors increased their holdings in United Rentals, reflecting significant purchase activity as 96.26% of the company's stock is now owned by institutional investors.
• In recent analyst ratings, UBS Group raised the price target for United Rentals to $835, while JPMorgan Chase & Co. set a higher target of $950, indicating overall optimistic sentiment toward the stock.

Pettyjohn Wood & White Inc. purchased a new stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,368 shares of the construction company's stock, valued at approximately $857,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. lifted its position in shares of United Rentals by 241.7% during the 4th quarter. Meeder Asset Management Inc. now owns 41 shares of the construction company's stock valued at $29,000 after buying an additional 29 shares in the last quarter. TruNorth Capital Management LLC lifted its position 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 valued at $26,000 after buying an additional 38 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new position in shares of United Rentals during the 1st quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of United Rentals by 69.0% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 49 shares of the construction company's stock valued at $31,000 after buying an additional 20 shares in the last quarter. Finally, Grove Bank & Trust purchased a new position in shares of United Rentals during the 1st quarter valued at about $36,000. 96.26% of the stock is currently owned by institutional investors.

United Rentals Trading Down 2.6%

NYSE:URI traded down $23.18 during midday trading on Friday, hitting $859.77. 655,436 shares of the company traded hands, compared to its average volume of 656,993. The firm's fifty day moving average is $765.18 and its 200-day moving average is $700.65. United Rentals, Inc. has a 12-month low of $525.91 and a 12-month high of $903.60. The firm has a market capitalization of $55.32 billion, a P/E ratio of 22.23, a P/E/G ratio of 2.04 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.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The construction company reported $10.47 earnings per share for the quarter, missing the consensus estimate of $10.54 by ($0.07). United Rentals had a net margin of 16.11% and a return on equity of 32.01%. The company had revenue of $3.94 billion for the quarter, compared to analysts' expectations of $3.90 billion. During the same quarter in the previous year, the company posted $10.70 EPS. The business's quarterly revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts predict that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Announces Dividend

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

Insiders Place Their Bets

In other United Rentals news, VP Andrew B. Limoges sold 708 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $705.86, for a total value of $499,748.88. Following the sale, the vice president owned 1,921 shares in the company, valued at $1,355,957.06. This trade represents a 26.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.53% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on URI. Cfra Research raised United Rentals to a "strong-buy" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. boosted their price target on United Rentals from $920.00 to $950.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Robert W. Baird increased their price target on United Rentals from $535.00 to $571.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. KeyCorp increased their price target on United Rentals from $865.00 to $960.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Finally, Bank of America upped their price objective on United Rentals from $895.00 to $900.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $830.71.

About United Rentals

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.