United Rentals, Inc. $URI Shares Bought by Gradient Investments LLC

Key Points

• Gradient Investments increased its United Rentals stake by 7.8% in the second quarter, holding 39,514 shares worth approximately $44.8 million. Institutional investors and hedge funds collectively own 96.26% of the company.
• United Rentals exceeded quarterly expectations, reporting $12.76 in EPS on $4.41 billion in revenue, with revenue up 11.8% year over year. The company also declared a $1.97 quarterly dividend, equivalent to a 0.7% yield.
• Analyst sentiment remains positive, with an average “Moderate Buy” rating and a consensus price target of $1,246.19; however, an executive recently sold 1,500 shares for about $1.7 million.

Gradient Investments LLC raised its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 7.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,514 shares of the construction company's stock after buying an additional 2,866 shares during the period. Gradient Investments LLC owned about 0.06% of United Rentals worth $44,765,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Core Wealth Advisors LLC acquired a new position in United Rentals during the 4th quarter worth about $28,000. MV Capital Management Inc. acquired a new position in United Rentals in the 4th quarter valued at about $28,000. Laurel Wealth Advisors LLC acquired a new position in United Rentals in the 4th quarter valued at about $32,000. Hilton Head Capital Partners LLC purchased a new stake in United Rentals during the fourth quarter worth about $34,000. Finally, Frazier Financial Advisors LLC lifted its position in shares of United Rentals by 33.3% during the first quarter. Frazier Financial Advisors LLC now owns 56 shares of the construction company's stock worth $41,000 after purchasing an additional 14 shares in the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP William E. Grace sold 1,500 shares of the company's stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the completion of the transaction, the executive vice president directly owned 6,062 shares of the company's stock, valued at $6,869,155.30. This represents a 19.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.47% of the stock is currently owned by insiders.

United Rentals Stock Down 0.0%

United Rentals stock opened at $1,162.37 on Friday. United Rentals, Inc. has a 1-year low of $701.59 and a 1-year high of $1,179.18. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.70. The stock has a market cap of $72.35 billion, a PE ratio of 27.91, a P/E/G ratio of 1.50 and a beta of 1.80. The stock's fifty day moving average is $1,085.32 and its two-hundred day moving average is $933.12.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $11.53 by $1.23. The company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.United Rentals's revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the business earned $10.47 EPS. On average, sell-side analysts expect that United Rentals, Inc. will post 48.55 EPS for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be paid a dividend of $1.97 per share. The ex-dividend date is Wednesday, August 12th. This represents a $7.88 annualized dividend and a yield of 0.7%. United Rentals's payout ratio is presently 18.92%.

Wall Street Analyst Weigh In

Several research firms have recently commented on URI. Barclays raised their price objective on shares of United Rentals from $715.00 to $950.00 and gave the company an "underweight" rating in a research note on Friday, July 24th. BNP Paribas Exane raised shares of 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. Truist Financial increased their target price on shares of United Rentals from $1,421.00 to $1,466.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Robert W. Baird set a $1,300.00 price target on shares of United Rentals in a research report on Friday, July 24th. Finally, Wall Street Zen upgraded shares of United Rentals from a "hold" rating to a "buy" rating in a research note on Saturday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, United Rentals has an average rating of "Moderate Buy" and an average target price of $1,246.19.

About United Rentals

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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