SeaCrest Wealth Management LLC Increases Stake in United Rentals, Inc. $URI

Key Points

• SeaCrest Wealth Management LLC increased its stake in United Rentals by 49.5%, acquiring an additional 381 shares, bringing its total holdings to 1,150 shares valued at $866,000.
• Multiple analysts have raised their price targets for United Rentals, with Barclays setting a target of $620 and other firms naming targets as high as $935, though several also issued downgrades.
• United Rentals recently declared a quarterly dividend of $1.79 per share, resulting in an annualized yield of 0.8% and a dividend payout ratio of 18.52%.

SeaCrest Wealth Management LLC boosted its position in United Rentals, Inc. (NYSE:URI - Free Report) by 49.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,150 shares of the construction company's stock after acquiring an additional 381 shares during the period. SeaCrest Wealth Management LLC's holdings in United Rentals were worth $866,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of URI. GAMMA Investing LLC raised its stake in shares of United Rentals by 77,674.5% during the 1st quarter. GAMMA Investing LLC now owns 887,407 shares of the construction company's stock worth $556,138,000 after purchasing an additional 886,266 shares in the last quarter. Nuveen LLC acquired a new stake in shares of United Rentals during the first quarter valued at about $402,291,000. JPMorgan Chase & Co. lifted its stake in United Rentals by 98.1% in 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 holdings 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 acquiring an additional 190,007 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in United Rentals by 22.3% in the first quarter. Goldman Sachs Group Inc. now owns 661,251 shares of the construction company's stock worth $414,406,000 after purchasing an additional 120,449 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company's stock.

United Rentals Stock Performance

Shares of URI traded down $1.53 during mid-day trading on Friday, reaching $941.26. The company had a trading volume of 1,035,014 shares, compared to its average volume of 528,984. The stock has a 50 day moving average of $900.44 and a two-hundred day moving average of $751.12. United Rentals, Inc. has a 52-week low of $525.91 and a 52-week high of $980.53. The stock has a market capitalization of $60.56 billion, a P/E ratio of 24.34, a PEG ratio of 2.18 and a beta of 1.72. 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 quarterly 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 company had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.90 billion. United Rentals had a net margin of 16.11% and a return on equity of 32.01%. The business's revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $10.70 EPS. United Rentals has set its FY 2025 guidance at EPS. On average, analysts expect that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th were given a $1.79 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $7.16 dividend on an annualized basis and a yield of 0.8%. United Rentals's dividend payout ratio (DPR) is 18.52%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. 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. Barclays increased their price objective on United Rentals from $565.00 to $620.00 and gave the stock an "underweight" rating in a research note on Monday, July 21st. Morgan Stanley raised their target price on United Rentals from $702.00 to $955.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Truist Financial raised their price target on shares of United Rentals from $786.00 to $952.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, UBS Group lifted their target price on shares of United Rentals from $780.00 to $835.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, United Rentals currently has a consensus rating of "Moderate Buy" and an average target price of $850.00.

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.