Swiss National Bank Buys 10,360 Shares of United Rentals, Inc. $URI

Key Points

• The Swiss National Bank increased its stake in United Rentals by 5.9% in the first quarter, adding 10,360 shares and bringing its total holding to 186,720 shares worth about $136.0 million.
• Wall Street sentiment remains largely bullish: several analysts raised price targets, and the stock currently carries a consensus “Moderate Buy” rating with an average target price of $1,140.
• United Rentals missed quarterly earnings and revenue estimates, reporting $9.71 EPS and $3.98 billion in revenue, while insiders also sold shares in recent months, including a notable sale by CEO Matthew John Flannery.

Swiss National Bank grew its stake in United Rentals, Inc. (NYSE:URI - Free Report) by 5.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,720 shares of the construction company's stock after acquiring an additional 10,360 shares during the period. Swiss National Bank owned 0.30% of United Rentals worth $136,037,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Woodline Partners LP grew its stake in United Rentals by 40.0% in the first quarter. Woodline Partners LP now owns 5,518 shares of the construction company's stock valued at $3,458,000 after purchasing an additional 1,577 shares during the last quarter. Sei Investments Co. lifted its position in shares of United Rentals by 24.7% during the second quarter. Sei Investments Co. now owns 27,136 shares of the construction company's stock valued at $20,444,000 after buying an additional 5,375 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of United Rentals by 43.6% in the 2nd quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company's stock valued at $42,233,000 after buying an additional 17,030 shares in the last quarter. HUB Investment Partners LLC boosted its holdings in shares of United Rentals by 11.3% in the 2nd quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company's stock valued at $1,661,000 after buying an additional 223 shares in the last quarter. Finally, Diversify Advisory Services LLC grew its position in shares of United Rentals by 338.7% in the 2nd quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company's stock worth $1,246,000 after buying an additional 1,277 shares during the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on URI shares. Robert W. Baird upped their price target on United Rentals from $970.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Morgan Stanley raised their price objective on United Rentals from $1,030.00 to $1,165.00 and gave the stock an "overweight" rating in a research report on Friday. Weiss Ratings downgraded United Rentals from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, July 9th. BNP Paribas Exane upgraded United Rentals from a "neutral" rating to an "outperform" rating and set a $1,320.00 target price on the stock in a research note on Monday, June 29th. Finally, KeyCorp upped their target price on United Rentals from $1,150.00 to $1,250.00 and gave the company an "overweight" rating in a research report on Thursday, June 25th. Fourteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $1,140.00.

Insider Activity at United Rentals

In other news, CEO Matthew John Flannery sold 22,768 shares of the firm's stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $984.98, for a total value of $22,426,024.64. Following the transaction, the chief executive officer owned 99,980 shares in the company, valued at $98,478,300.40. This trade represents a 18.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Joli L. Gross sold 306 shares of the firm's stock in a transaction on Monday, April 27th. The shares were sold at an average price of $954.99, for a total value of $292,226.94. Following the completion of the transaction, the senior vice president owned 5,738 shares in the company, valued at $5,479,732.62. The trade was a 5.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 26,088 shares of company stock valued at $25,628,877. 0.47% of the stock is owned by corporate insiders.

United Rentals Price Performance

Shares of URI opened at $1,012.39 on Tuesday. The business's 50-day moving average is $1,042.78 and its two-hundred day moving average is $912.44. The company has a market capitalization of $63.43 billion, a P/E ratio of 25.83, a P/E/G ratio of 1.67 and a beta of 1.79. United Rentals, Inc. has a fifty-two week low of $701.59 and a fifty-two week high of $1,143.69. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80.

United Rentals (NYSE:URI - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing the consensus estimate of $11.47 by ($1.76). The firm had revenue of $3.98 billion for the quarter, compared to analysts' expectations of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. United Rentals's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the firm earned $8.86 earnings per share. Research analysts predict that United Rentals, Inc. will post 46.85 earnings per share for the current year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were paid a $1.97 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $7.88 dividend on an annualized basis and a yield of 0.8%. United Rentals's dividend payout ratio (DPR) is currently 20.10%.

United Rentals Company Profile

United Rentals, Inc NYSE: URI is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company's product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.

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