United Rentals, Inc. $URI Shares Acquired by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its holdings in United Rentals, Inc. by 50.4% during the 1st quarter, owning 2,094 shares worth approximately $1.3 million.
• Several other institutional investors made significant changes to their positions, with 96.26% of the stock currently owned by institutional investors and hedge funds.
• Analyst ratings for United Rentals are predominantly positive, with a consensus rating of "Moderate Buy" and an average target price of $842.86.

Ieq Capital LLC grew its position in United Rentals, Inc. (NYSE:URI - Free Report) by 50.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,094 shares of the construction company's stock after purchasing an additional 702 shares during the period. Ieq Capital LLC's holdings in United Rentals were worth $1,312,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of United Rentals by 0.4% in the first quarter. Vanguard Group Inc. now owns 7,422,036 shares of the construction company's stock valued at $4,651,390,000 after purchasing an additional 29,501 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of United Rentals by 98.1% in the first quarter. JPMorgan Chase & Co. now owns 1,093,805 shares of the construction company's stock valued at $685,488,000 after purchasing an additional 541,579 shares during the period. GAMMA Investing LLC increased its holdings in shares of United Rentals by 77,674.5% in the first quarter. GAMMA Investing LLC now owns 887,407 shares of the construction company's stock valued at $556,138,000 after purchasing an additional 886,266 shares during the period. Goldman Sachs Group Inc. increased its holdings 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 purchasing an additional 120,449 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of United Rentals by 0.8% in the first quarter. Northern Trust Corp now owns 661,166 shares of the construction company's stock valued at $414,353,000 after purchasing an additional 5,113 shares during the period. 96.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on URI shares. UBS Group increased their price objective on United Rentals from $780.00 to $835.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Morgan Stanley upped their target price on United Rentals from $702.00 to $955.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Evercore ISI restated an "outperform" rating on shares of United Rentals in a research note on Tuesday, August 19th. Bank of America upped their target price on United Rentals from $895.00 to $900.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Truist Financial upped their target price on United Rentals from $786.00 to $952.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $842.86.

United Rentals Price Performance

URI stock traded up $11.34 during mid-day trading on Friday, reaching $976.00. 440,181 shares of the company's stock were exchanged, compared to its average volume of 463,200. The company has a market cap of $62.80 billion, a price-to-earnings ratio of 25.24, a price-to-earnings-growth ratio of 2.25 and a beta of 1.72. The stock's 50 day moving average is $868.94 and its 200 day moving average is $728.79. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.86 and a quick ratio of 0.80. United Rentals, Inc. has a 12-month low of $525.91 and a 12-month high of $980.53.

United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The construction company reported $10.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $10.54 by ($0.07). The business had revenue of $3.94 billion for the quarter, compared to analysts' expectations of $3.90 billion. United Rentals had a return on equity of 32.01% and a net margin of 16.11%.The business's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $10.70 EPS. United Rentals has set its FY 2025 guidance at EPS. On average, research analysts expect that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th were given a dividend of $1.79 per share. The ex-dividend date was Wednesday, August 13th. This represents a $7.16 dividend on an annualized basis and a yield of 0.7%. United Rentals's dividend payout ratio is currently 18.52%.

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.