Pictet Asset Management Holding SA Buys 18,772 Shares of United Rentals, Inc. $URI

Key Points

• Pictet Asset Management increased its United Rentals stake by 12.2%, buying 18,772 shares and ending the third quarter with 172,515 shares worth about $172.7 million.
• United Rentals reported quarterly EPS of $15.55, above the $13.97 consensus, while revenue rose 15.7% year over year to $4.89 billion.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $1,238.53; the company also declared a quarterly dividend of $1.97 per share.

Pictet Asset Management Holding SA increased its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 12.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,515 shares of the construction company's stock after purchasing an additional 18,772 shares during the period. Pictet Asset Management Holding SA owned 0.28% of United Rentals worth $172,657,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in URI. Investment Management Corp VA ADV lifted its holdings in shares of United Rentals by 6.0% in the third quarter. Investment Management Corp VA ADV now owns 743 shares of the construction company's stock valued at $744,000 after buying an additional 42 shares during the period. International Assets Investment Management LLC boosted its stake in United Rentals by 88,861.4% during the third quarter. International Assets Investment Management LLC now owns 1,499,000 shares of the construction company's stock valued at $1,545,000 after buying an additional 1,497,315 shares in the last quarter. Kestra Private Wealth Services LLC grew its holdings in United Rentals by 2.1% during the third quarter. Kestra Private Wealth Services LLC now owns 2,072 shares of the construction company's stock worth $2,073,000 after acquiring an additional 42 shares during the period. Northeast Investment Management grew its holdings in United Rentals by 0.4% during the third quarter. Northeast Investment Management now owns 30,451 shares of the construction company's stock worth $30,475,000 after acquiring an additional 120 shares during the period. Finally, Chicago Partners Investment Group LLC grew its holdings in United Rentals by 98.4% during the third quarter. Chicago Partners Investment Group LLC now owns 1,129 shares of the construction company's stock worth $1,241,000 after acquiring an additional 560 shares during the period. Institutional investors own 96.26% of the company's stock.

United Rentals Stock Performance

URI opened at $1,053.32 on Monday. The company has a quick ratio of 0.73, a current ratio of 0.80 and a debt-to-equity ratio of 1.35. The firm has a market cap of $65.22 billion, a PE ratio of 23.15, a P/E/G ratio of 1.48 and a beta of 1.82. The business has a fifty day simple moving average of $1,054.02 and a 200-day simple moving average of $975.49. United Rentals, Inc. has a fifty-two week low of $701.59 and a fifty-two week high of $1,202.12.

United Rentals (NYSE:URI - Get Free Report) last announced its earnings results on Wednesday, October 21st. The construction company reported $15.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $13.97 by $1.58. United Rentals had a return on equity of 33.47% and a net margin of 16.33%. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.71 billion. During the same period in the previous year, the firm earned $11.70 earnings per share. United Rentals's revenue for the quarter was up 15.7% compared to the same quarter last year. As a group, equities analysts predict that United Rentals, Inc. will post 51.51 EPS for the current fiscal year.

United Rentals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Wednesday, November 11th will be paid a $1.97 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. United Rentals's dividend payout ratio (DPR) is currently 17.32%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. cut shares of United Rentals from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $1,235.00 to $1,170.00 in a research report on Thursday, September 10th. Sanford C. Bernstein set a $1,258.00 price objective on shares of United Rentals in a research report on Friday, October 23rd. Bank of America reaffirmed a "buy" rating and issued a $1,050.00 price objective (down from $1,079.00) on shares of United Rentals in a research note on Thursday, October 22nd. BNP Paribas Exane boosted their target price on shares of United Rentals from $1,365.00 to $1,455.00 and gave the stock an "outperform" rating in a report on Friday, October 23rd. Finally, Wells Fargo & Company boosted their target price on shares of United Rentals from $1,245.00 to $1,355.00 and gave the stock an "overweight" rating in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, United Rentals currently has a consensus rating of "Moderate Buy" and an average price target of $1,238.53.

United Rentals Profile

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