Simplicity Wealth LLC Raises Stake in United Rentals, Inc. $URI

Key Points

• Simplicity Wealth LLC raised its stake in United Rentals, Inc. by 163.6% during the second quarter, now holding 1,189 shares valued at $896,000.
• United Rentals reported earnings of $10.47 per share for the last quarter, missing expectations slightly, but generated revenue of $3.94 billion, above estimates.
• Analysts have set a consensus rating of "Moderate Buy" for United Rentals with an average price target of $941.00, reflecting mixed opinions on stock performance.

Simplicity Wealth LLC increased its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 163.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,189 shares of the construction company's stock after buying an additional 738 shares during the period. Simplicity Wealth LLC's holdings in United Rentals were worth $896,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of United Rentals by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 7,422,036 shares of the construction company's stock worth $4,651,390,000 after purchasing an additional 29,501 shares during the last quarter. JPMorgan Chase & Co. increased its position 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 worth $685,488,000 after buying an additional 541,579 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in United Rentals by 28.8% in the first quarter. The Manufacturers Life Insurance Company now owns 849,786 shares of the construction company's stock worth $532,561,000 after buying an additional 190,007 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of United Rentals by 22.3% in 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 lifted its position in shares of United Rentals by 0.8% during the 1st 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 last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

United Rentals Stock Up 0.6%

URI stock opened at $986.21 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.80 and a debt-to-equity ratio of 1.34. The company's 50 day moving average is $929.39 and its 200 day moving average is $777.32. The stock has a market cap of $63.45 billion, a price-to-earnings ratio of 25.50, a price-to-earnings-growth ratio of 2.27 and a beta of 1.73. United Rentals, Inc. has a 1-year low of $525.91 and a 1-year high of $997.50.

United Rentals (NYSE:URI - Get Free Report) last announced 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 company had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.90 billion. United Rentals had a net margin of 16.11% and a return on equity of 32.01%. The company's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.70 earnings per share. United Rentals has set its FY 2025 guidance at EPS. Sell-side analysts predict that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Dividend Announcement

The business 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 was Wednesday, August 13th. This represents a $7.16 annualized dividend and a yield of 0.7%. United Rentals's payout ratio is 18.52%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on URI shares. Redburn Atlantic lowered 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. Citigroup lifted their target price on United Rentals from $1,000.00 to $1,080.00 and gave the company a "buy" rating in a report on Tuesday, September 23rd. BNP Paribas set a $900.00 price target on shares of United Rentals and gave the stock a "neutral" rating in a report on Tuesday, September 16th. Baird R W upgraded shares of United Rentals from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 1st. Finally, Truist Financial upped 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, July 25th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $941.00.

United Rentals Company 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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