United Rentals, Inc. $URI Shares Bought by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC increased its stake in United Rentals by 10.2% in the first quarter, bringing its holdings to 43,967 shares valued at about $32.0 million.
• United Rentals posted a strong quarterly earnings beat, reporting $12.76 EPS on revenue of $4.41 billion, both above analyst expectations, while revenue rose 11.8% year over year.
• Analyst sentiment remains upbeat: several firms lifted price targets after the results, and the consensus rating is Moderate Buy with a target price of $1,226.50.

Gabelli Funds LLC raised its stake in United Rentals, Inc. (NYSE:URI - Free Report) by 10.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,967 shares of the construction company's stock after buying an additional 4,067 shares during the quarter. Gabelli Funds LLC owned approximately 0.07% of United Rentals worth $32,033,000 at the end of the most recent quarter.

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

United Rentals Price Performance

United Rentals stock opened at $1,140.19 on Friday. The company's 50 day simple moving average is $1,052.87 and its 200-day simple moving average is $919.10. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.74 and a current ratio of 0.76. United Rentals, Inc. has a 1 year low of $701.59 and a 1 year high of $1,177.67. The company has a market capitalization of $70.97 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 1.82 and a beta of 1.79.

United Rentals (NYSE:URI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, topping analysts' consensus estimates of $11.53 by $1.23. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The firm had revenue of $4.41 billion during the quarter, compared to analysts' expectations of $4.22 billion. During the same quarter last year, the company posted $10.47 EPS. The firm's quarterly revenue was up 11.8% on a year-over-year basis. As a group, equities research analysts expect that United Rentals, Inc. will post 47.32 earnings per share for the current year.

United Rentals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be given a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Wednesday, August 12th. United Rentals's dividend payout ratio (DPR) is currently 18.92%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on URI shares. Truist Financial lifted their price target on shares of United Rentals from $1,421.00 to $1,466.00 and gave the company a "buy" rating in a research report on Friday. Evercore reiterated an "outperform" rating and issued a $1,101.00 price objective on shares of United Rentals in a research report on Monday, May 11th. Wells Fargo & Company raised their target price on United Rentals from $1,245.00 to $1,355.00 and gave the stock an "overweight" rating in a research note on Friday. Royal Bank Of Canada lifted their target price on United Rentals from $1,041.00 to $1,119.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Finally, Weiss Ratings raised United Rentals from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday. Fifteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,226.50.

United Rentals News Roundup

Here are the key news stories impacting United Rentals this week:

• Positive Sentiment: JPMorgan raised its price target on United Rentals to $1,235 and kept an overweight rating, signaling confidence in continued upside. JPMorgan price target increase
• Positive Sentiment: Truist boosted its target to $1,466 and maintained a buy rating, reflecting a more optimistic view of URI’s earnings power and demand trends. Truist price target increase
• Positive Sentiment: Citigroup raised its target to $1,330 with a buy rating after the company’s strong Q2 results and improved guidance. Citigroup price target increase
• Positive Sentiment: Bank of America increased its target to $1,300 and reiterated a buy rating, adding to the positive analyst momentum around the stock. Bank of America price target increase
• Positive Sentiment: United Rentals reported Q2 earnings of $12.76 per share and revenue of $4.41 billion, both ahead of expectations, and raised full-year guidance on stronger rental growth and demand. Q2 earnings beat and guidance raise
• Neutral Sentiment: The company also declared a quarterly dividend of $1.97 per share, which is a modest shareholder-return update but not likely the main driver of today’s trading. Dividend announcement

Insider Buying and Selling at United Rentals

In other news, EVP Craig Adam Pintoff sold 2,466 shares of United Rentals stock in a transaction on Monday, April 27th. The stock was sold at an average price of $963.00, for a total value of $2,374,758.00. Following the completion of the sale, the executive vice president directly owned 14,774 shares of the company's stock, valued at approximately $14,227,362. The trade was a 14.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Joli L. Gross sold 306 shares of United Rentals 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 sale, the senior vice president directly owned 5,738 shares of the company's stock, valued at $5,479,732.62. The trade was a 5.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.47% of the company's stock.

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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