Picton Mahoney Asset Management Boosts Holdings in United Rentals, Inc. (NYSE:URI)

Key Points

• Picton Mahoney Asset Management increased its holdings in United Rentals, Inc. by 38.1% during the first quarter, now owning 26,806 shares valued at approximately $16.8 million.
• United Rentals is currently experiencing significant interest from institutional investors, with 96.26% of the company's stock owned by such firms.
• Analysts have varied projections for United Rentals' stock, with target prices ranging from $620 to $955, and an average rating of "Moderate Buy."

Picton Mahoney Asset Management boosted its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 38.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 26,806 shares of the construction company's stock after purchasing an additional 7,395 shares during the quarter. Picton Mahoney Asset Management's holdings in United Rentals were worth $16,799,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Blair William & Co. IL grew its holdings in shares of United Rentals by 18.4% during the fourth quarter. Blair William & Co. IL now owns 8,462 shares of the construction company's stock valued at $5,961,000 after buying an additional 1,315 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in United Rentals by 16.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 40,262 shares of the construction company's stock valued at $28,362,000 after purchasing an additional 5,782 shares during the last quarter. Orion Portfolio Solutions LLC increased its holdings in shares of United Rentals by 1.9% in the 4th quarter. Orion Portfolio Solutions LLC now owns 4,952 shares of the construction company's stock worth $3,488,000 after purchasing an additional 92 shares in the last quarter. Brown Brothers Harriman & Co. raised its stake in shares of United Rentals by 92.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 81 shares of the construction company's stock worth $57,000 after purchasing an additional 39 shares during the last quarter. Finally, Allstate Corp purchased a new position in shares of United Rentals in the fourth quarter worth $1,377,000. 96.26% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Andrew B. Limoges sold 708 shares of United Rentals stock in a transaction on Monday, May 12th. The shares were sold at an average price of $705.86, for a total transaction of $499,748.88. Following the transaction, the vice president owned 1,921 shares in the company, valued at approximately $1,355,957.06. The trade was a 26.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on URI shares. 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 report on Thursday, July 10th. Morgan Stanley raised their price target on shares of United Rentals from $702.00 to $955.00 and gave the company an "overweight" rating in a report on Monday. Evercore ISI reduced their price target on shares of United Rentals from $974.00 to $921.00 and set an "outperform" rating for the company in a research note on Monday, May 19th. Barclays boosted their price objective on shares of United Rentals from $565.00 to $620.00 and gave the company an "underweight" rating in a report on Monday, July 21st. Finally, Truist Financial raised their target price on shares of United Rentals from $786.00 to $952.00 and gave the stock a "buy" rating in a report on Friday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $830.71.

United Rentals Trading Up 1.2%

Shares of URI stock opened at $900.62 on Tuesday. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year high of $903.61. The firm has a fifty day moving average price of $751.34 and a 200-day moving average price of $695.85. The company has a market cap of $57.95 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 2.06 and a beta of 1.69. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.86 and a quick ratio of 0.80.

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

United Rentals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th will be given 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 0.80%. United Rentals's payout ratio is currently 18.52%.

United Rentals 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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