QRG Capital Management Inc. Trims Position in United Rentals, Inc. $URI

Key Points

• QRG Capital Management Inc. reduced its stake in United Rentals, Inc. by 52.8%, holding 13,021 shares valued at approximately $9.81 million after selling 14,569 shares in the second quarter.
• Multiple hedge funds, including Vanguard Group and JPMorgan Chase, have increased their stakes significantly in United Rentals, illustrating strong institutional interest, with 96.26% of the stock owned by institutional investors.
• Analyst sentiment is mixed, with ratings varying from "Strong Buy" to "Sell", and a consensus target price of $941.00, reflecting differing perspectives on the company's performance and future outlook.

QRG Capital Management Inc. cut its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 52.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,021 shares of the construction company's stock after selling 14,569 shares during the period. QRG Capital Management Inc.'s holdings in United Rentals were worth $9,810,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of United Rentals by 0.4% during the first quarter. Vanguard Group Inc. now owns 7,422,036 shares of the construction company's stock valued at $4,651,390,000 after buying an additional 29,501 shares during the period. JPMorgan Chase & Co. increased its stake in shares of United Rentals by 98.1% during the first quarter. JPMorgan Chase & Co. now owns 1,093,805 shares of the construction company's stock valued at $685,488,000 after buying an additional 541,579 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of United Rentals by 28.8% during the first quarter. The Manufacturers Life Insurance Company now owns 849,786 shares of the construction company's stock valued at $532,561,000 after buying an additional 190,007 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of United Rentals by 22.3% during the first quarter. Goldman Sachs Group Inc. now owns 661,251 shares of the construction company's stock valued at $414,406,000 after buying an additional 120,449 shares during the period. Finally, Northern Trust Corp increased its stake in shares of United Rentals by 0.8% during the first quarter. Northern Trust Corp now owns 661,166 shares of the construction company's stock valued at $414,353,000 after buying an additional 5,113 shares during the period. 96.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

URI has been the topic of several recent research reports. Redburn Atlantic cut United Rentals from a "buy" rating to a "neutral" rating and set a $760.00 price target on the stock. in a research note on Friday, June 13th. Truist Financial upped their price target on United Rentals from $786.00 to $952.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. BNP Paribas set a $900.00 price target on United Rentals and gave the stock a "neutral" rating in a research note on Tuesday, September 16th. BNP Paribas Exane raised United Rentals from an "underperform" rating to a "neutral" rating and set a $900.00 price target on the stock in a research note on Tuesday, September 16th. Finally, Bank of America upped their price target on United Rentals from $895.00 to $900.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $941.00.

United Rentals Trading Up 0.4%

NYSE URI opened at $982.25 on Friday. United Rentals, Inc. has a 12 month low of $525.91 and a 12 month high of $997.50. The stock has a market cap of $63.20 billion, a P/E ratio of 25.40, a P/E/G ratio of 2.27 and a beta of 1.73. The stock's fifty day moving average price is $927.68 and its 200-day moving average price is $773.82. 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 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 period in the prior year, the company posted $10.70 earnings per share. The company's revenue was up 4.5% on a year-over-year basis. United Rentals has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Dividend Announcement

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

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