Raymond James Financial Inc. Has $161.68 Million Stake in United Rentals, Inc. $URI

Key Points

• Raymond James Financial Inc. increased its stake in United Rentals, Inc. by 10.5%, owning 257,988 shares, valued at approximately $161.68 million.
• Analysts have mixed ratings for United Rentals, with one strong buy, nine buy ratings, and a consensus target price of $834.64.
• The company reported $10.47 EPS for the last quarter, slightly missing estimates, but achieved a 4.5% year-over-year revenue growth.

Raymond James Financial Inc. raised its position in United Rentals, Inc. (NYSE:URI - Free Report) by 10.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 257,988 shares of the construction company's stock after purchasing an additional 24,479 shares during the quarter. Raymond James Financial Inc. owned 0.40% of United Rentals worth $161,682,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TruNorth Capital Management LLC raised its stake in shares of United Rentals by 1,266.7% in the 1st quarter. TruNorth Capital Management LLC now owns 41 shares of the construction company's stock valued at $26,000 after purchasing an additional 38 shares during the period. Fourth Dimension Wealth LLC bought a new position in shares of United Rentals in the 1st quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of United Rentals by 69.0% in the 1st 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 in the last quarter. Grove Bank & Trust bought a new position in shares of United Rentals in the 1st quarter valued at about $36,000. Finally, NBC Securities Inc. bought a new position in shares of United Rentals in the 1st quarter valued at about $40,000. Institutional investors and hedge funds own 96.26% of the company's stock.

Wall Street Analyst Weigh In

URI has been the subject of several analyst reports. Citigroup restated a "buy" rating and issued a $810.00 price objective (up previously from $740.00) on shares of United Rentals in a report on Tuesday, June 24th. Cfra Research upgraded United Rentals to a "strong-buy" rating in a report on Friday, April 25th. Redburn Atlantic cut United Rentals from a "buy" rating to a "neutral" rating and set a $760.00 price objective for the company. in a report on Friday, June 13th. KeyCorp raised their price objective on United Rentals from $865.00 to $960.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Finally, UBS Group raised their price objective on United Rentals from $780.00 to $835.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $834.64.

United Rentals Trading Down 1.2%

United Rentals stock opened at $910.31 on Monday. United Rentals, Inc. has a 52 week low of $525.91 and a 52 week high of $933.32. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.80 and a current ratio of 0.86. The stock has a market capitalization of $58.57 billion, a P/E ratio of 23.54, a PEG ratio of 2.10 and a beta of 1.72. The stock has a 50-day simple moving average of $801.52 and a 200 day simple moving average of $707.68.

United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The construction company reported $10.47 earnings per share (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 firm had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter in the prior year, the firm earned $10.70 EPS. The company's revenue was up 4.5% on a year-over-year basis. Analysts expect that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th will be issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Wednesday, August 13th. 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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