Summit Financial LLC Has $2.55 Million Stock Holdings in United Rentals, Inc. $URI

Key Points

• Summit Financial LLC has significantly reduced its stake in United Rentals, Inc. by 61.4%, now holding $2.55 million worth of stock.
• United Rentals reported quarterly earnings of $10.47 EPS, slightly missing analysts’ expectations, with revenues up 4.5% year-over-year.
• The company declared a quarterly dividend of $1.79 per share, yielding 0.8%, with a payout ratio of 18.52%.

Summit Financial LLC reduced its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 61.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,062 shares of the construction company's stock after selling 6,473 shares during the quarter. Summit Financial LLC's holdings in United Rentals were worth $2,546,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Elevation Point Wealth Partners LLC grew its holdings in shares of United Rentals by 32.9% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 2,220 shares of the construction company's stock worth $1,391,000 after purchasing an additional 550 shares in the last quarter. Dynamic Advisor Solutions LLC acquired a new stake in United Rentals in the first quarter valued at about $602,000. Wealth Enhancement Advisory Services LLC boosted its stake in United Rentals by 12.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,160 shares of the construction company's stock valued at $4,488,000 after buying an additional 789 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in United Rentals by 101.6% in the first quarter. Farther Finance Advisors LLC now owns 859 shares of the construction company's stock valued at $543,000 after buying an additional 433 shares in the last quarter. Finally, Brookwood Investment Group LLC acquired a new stake in United Rentals in the first quarter valued at about $2,966,000. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Stock Performance

Shares of URI stock opened at $929.7890 on Friday. The business's 50-day moving average price is $821.49 and its 200-day moving average price is $713.79. United Rentals, Inc. has a 12 month low of $525.91 and a 12 month high of $937.45. The firm has a market capitalization of $59.82 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 2.06 and a beta of 1.72. 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 announced its quarterly 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 net margin of 16.11% and a return on equity of 32.01%. The firm had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same period in the previous year, the business posted $10.70 earnings per share. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. United Rentals has set its FY 2025 guidance at EPS. Equities research analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th will be paid 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 of this dividend is Wednesday, August 13th. United Rentals's dividend payout ratio (DPR) is presently 18.52%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on URI shares. Cfra Research raised United Rentals to a "strong-buy" rating in a research note on Friday, April 25th. UBS Group raised their price objective on United Rentals from $780.00 to $835.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Robert W. Baird raised their price objective on United Rentals from $535.00 to $571.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Redburn Atlantic lowered United Rentals from a "buy" rating to a "neutral" rating and set a $760.00 price objective on the stock. in a research note on Friday, June 13th. Finally, KeyCorp raised their price objective on United Rentals from $865.00 to $960.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $834.64.

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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