SOA Wealth Advisors LLC. Invests $4.69 Million in United Rentals, Inc. (NYSE:URI)

SOA Wealth Advisors LLC. acquired a new stake in United Rentals, Inc. (NYSE:URI - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 7,488 shares of the construction company's stock, valued at approximately $4,693,000.

Several other hedge funds also recently modified their holdings of the stock. Rialto Wealth Management LLC bought a new stake in United Rentals in the fourth quarter valued at $25,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of United Rentals in the 4th quarter valued at about $27,000. Meeder Asset Management Inc. increased its position in United Rentals by 241.7% in the 4th quarter. Meeder Asset Management Inc. now owns 41 shares of the construction company's stock valued at $29,000 after buying an additional 29 shares in the last quarter. Kestra Investment Management LLC acquired a new position in United Rentals during the 4th quarter worth approximately $34,000. Finally, OFI Invest Asset Management bought a new position in United Rentals in the fourth quarter worth approximately $36,000. Institutional investors own 96.26% of the company's stock.

Analyst Ratings Changes

URI has been the topic of a number of research reports. Evercore ISI lowered their target price on United Rentals from $974.00 to $921.00 and set an "outperform" rating on the stock in a research report on Monday, May 19th. JPMorgan Chase & Co. upped their price objective on shares of United Rentals from $780.00 to $920.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Citigroup dropped their price objective on shares of United Rentals from $720.00 to $650.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Bank of America decreased their target price on shares of United Rentals from $850.00 to $750.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Finally, Truist Financial raised their price target on shares of United Rentals from $732.00 to $786.00 and gave the company a "buy" rating in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $753.15.

Insider Transactions at United Rentals

In other news, EVP Michael D. Durand sold 1,100 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $626.28, for a total value of $688,908.00. Following the transaction, the executive vice president now owns 8,748 shares in the company, valued at approximately $5,478,697.44. This trade represents a 11.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Andrew B. Limoges sold 708 shares of United Rentals stock in a transaction on Monday, May 12th. The stock was sold at an average price of $705.86, for a total transaction of $499,748.88. Following the completion of the transaction, the vice president now directly owns 1,921 shares in the company, valued at approximately $1,355,957.06. The trade was a 26.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company's stock.

United Rentals Stock Performance

United Rentals stock traded up $3.82 during mid-day trading on Wednesday, reaching $719.56. 529,149 shares of the company's stock were exchanged, compared to its average volume of 594,561. The business's fifty day simple moving average is $653.84 and its 200 day simple moving average is $694.62. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. United Rentals, Inc. has a one year low of $525.91 and a one year high of $896.98. The firm has a market capitalization of $46.77 billion, a PE ratio of 18.57, a P/E/G ratio of 1.43 and a beta of 1.70.

United Rentals (NYSE:URI - Get Free Report) last released its earnings results on Wednesday, April 23rd. The construction company reported $8.86 EPS for the quarter, missing analysts' consensus estimates of $8.92 by ($0.06). The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.61 billion. United Rentals had a return on equity of 34.21% and a net margin of 16.78%. The company's revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.15 earnings per share. On average, sell-side analysts expect that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were given a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Wednesday, May 14th. United Rentals's dividend payout ratio (DPR) is currently 18.54%.

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.