Price T Rowe Associates Inc. MD Sells 2,319 Shares of United Rentals, Inc. $URI

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in United Rentals, Inc. by 1.9%, owning 117,477 shares valued at approximately $73.6 million post-sale.
• Analysts have raised their price targets for United Rentals, with Barclays setting a target of $620 and Bank of America at $900, indicating varying confidence levels towards the stock.
• United Rentals recently declared a quarterly dividend of $1.79 per share, resulting in an annualized yield of 0.8% with a payout ratio of 18.52%.

Price T Rowe Associates Inc. MD lessened its holdings in United Rentals, Inc. (NYSE:URI - Free Report) by 1.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 117,477 shares of the construction company's stock after selling 2,319 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.18% of United Rentals worth $73,624,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC purchased a new position in shares of United Rentals in the first quarter valued at about $26,000. TruNorth Capital Management LLC increased its position in shares of United Rentals by 1,266.7% in the first quarter. TruNorth Capital Management LLC now owns 41 shares of the construction company's stock valued at $26,000 after acquiring an additional 38 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of United Rentals by 69.0% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 49 shares of the construction company's stock valued at $31,000 after acquiring an additional 20 shares during the period. Grove Bank & Trust purchased a new position in shares of United Rentals in the first quarter valued at about $36,000. Finally, NBC Securities Inc. purchased a new position in shares of United Rentals in the first quarter valued at about $40,000. Hedge funds and other institutional investors own 96.26% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. UBS Group boosted their price target on shares of United Rentals from $780.00 to $835.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Redburn Atlantic cut shares of United Rentals from a "buy" rating to a "neutral" rating and set a $760.00 price target on the stock. in a research report on Friday, June 13th. KeyCorp boosted their price target on shares of United Rentals from $960.00 to $1,075.00 and gave the company an "overweight" rating in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on shares of United Rentals from $920.00 to $950.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, Evercore ISI reissued an "outperform" rating on shares of United Rentals in a research note on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, United Rentals has a consensus rating of "Moderate Buy" and a consensus target price of $842.86.

United Rentals Stock Up 0.3%

Shares of NYSE URI traded up $2.54 during midday trading on Friday, hitting $957.78. The stock had a trading volume of 508,051 shares, compared to its average volume of 643,422. The business's 50 day moving average is $841.69 and its 200-day moving average is $719.42. The company has a market cap of $61.62 billion, a P/E ratio of 24.77, a PEG ratio of 2.19 and a beta of 1.72. United Rentals, Inc. has a 52 week low of $525.91 and a 52 week high of $961.16. 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 (NYSE:URI - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The construction company reported $10.47 earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 32.01% and a net margin of 16.11%.The company's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $10.70 EPS. United Rentals has set its FY 2025 guidance at EPS. As a group, analysts predict that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th were given a dividend of $1.79 per share. The ex-dividend date was Wednesday, August 13th. This represents a $7.16 dividend on an annualized basis and a yield of 0.7%. United Rentals's dividend payout ratio is 18.52%.

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.