Tidal Investments LLC Boosts Position in United Rentals, Inc. $URI

Key Points

• Tidal Investments more than doubled its United Rentals position in the second quarter, increasing holdings by 109.4% to 14,447 shares valued at approximately $16.4 million. Institutional investors collectively own 96.26% of the company.
• United Rentals reported a strong quarter, with earnings of $12.76 per share and revenue of $4.41 billion, exceeding analyst estimates and representing 11.8% year-over-year revenue growth.
• Despite the stock opening at $989.77, analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $1,230.88. The company also pays a quarterly dividend of $1.97, yielding about 0.8%.

Tidal Investments LLC boosted its holdings in United Rentals, Inc. (NYSE:URI - Free Report) by 109.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,447 shares of the construction company's stock after purchasing an additional 7,547 shares during the quarter. Tidal Investments LLC's holdings in United Rentals were worth $16,367,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. California State Teachers Retirement System lifted its position in shares of United Rentals by 110,181.2% during the 2nd quarter. California State Teachers Retirement System now owns 110,282,310 shares of the construction company's stock worth $124,937,726,000 after buying an additional 110,182,309 shares during the last quarter. BlackRock Inc. purchased a new position in shares of United Rentals in the 2nd quarter valued at $5,816,326,000. Norges Bank purchased a new position in shares of United Rentals in the 4th quarter valued at $978,017,000. Bank of America Corp DE acquired a new stake in United Rentals during the 2nd quarter worth $944,196,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in United Rentals in the second quarter valued at $716,129,000. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

United Rentals Stock Down 3.8%

United Rentals stock opened at $989.77 on Friday. The stock has a 50 day moving average of $1,078.97 and a two-hundred day moving average of $965.91. United Rentals, Inc. has a twelve month low of $701.59 and a twelve month high of $1,179.18. The stock has a market capitalization of $61.60 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 1.51 and a beta of 1.79. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The construction company reported $12.76 earnings per share for the quarter, topping the consensus estimate of $11.53 by $1.23. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same period last year, the company earned $10.47 earnings per share. The company's revenue for the quarter was up 11.8% on a year-over-year basis. As a group, research analysts expect that United Rentals, Inc. will post 48.59 earnings per share for the current year.

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were paid a $1.97 dividend. This represents a $7.88 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Wednesday, August 12th. United Rentals's dividend payout ratio (DPR) is 18.92%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on URI. Bank of America raised their price objective on United Rentals from $1,195.00 to $1,300.00 and gave the stock a "buy" rating in a report on Thursday, July 23rd. Zacks Research upgraded United Rentals from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Argus reaffirmed a "buy" rating and set a $1,250.00 price target on shares of United Rentals in a research report on Tuesday, August 4th. Morgan Stanley set a $1,335.00 price objective on United Rentals and gave the company an "overweight" rating in a research note on Friday, July 24th. Finally, Robert W. Baird set a $1,300.00 price objective on United Rentals in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, United Rentals has a consensus rating of "Moderate Buy" and a consensus price target of $1,230.88.

Insider Buying and Selling at United Rentals

In other news, EVP William Grace sold 1,500 shares of United Rentals stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the sale, the executive vice president owned 6,062 shares of the company's stock, valued at $6,869,155.30. The trade was a 19.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.47% of the stock is currently owned by insiders.

United Rentals Company Profile

United Rentals, Inc is an equipment rental company serving construction, industrial, commercial, government and residential customers. The company provides access to a broad range of equipment without requiring customers to purchase and maintain their own fleets.

Its rental offerings include aerial work platforms, earthmoving equipment, material-handling equipment, trucks and trailers, power-generation and climate-control equipment, pumps, tools, trench-safety products and traffic-control equipment.

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