United Rentals, Inc. $URI Shares Bought by Lazard Asset Management LLC

Lazard Asset Management LLC boosted its holdings in United Rentals, Inc. (NYSE:URI - Free Report) by 15.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 173,254 shares of the construction company's stock after purchasing an additional 23,135 shares during the quarter. Lazard Asset Management LLC owned about 0.28% of United Rentals worth $126,226,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. OMERS ADMINISTRATION Corp grew its position in shares of United Rentals by 63.1% during the first quarter. OMERS ADMINISTRATION Corp now owns 3,970 shares of the construction company's stock worth $2,892,000 after acquiring an additional 1,536 shares during the last quarter. Lombard Odier Asset Management Switzerland SA purchased a new position in shares of United Rentals in the 1st quarter valued at about $4,307,000. Lombard Odier Asset Management Europe Ltd purchased a new stake in United Rentals during the first quarter worth $7,382,000. Waverly Advisors LLC raised its position in shares of United Rentals by 28.8% during the 1st quarter. Waverly Advisors LLC now owns 2,037 shares of the construction company's stock worth $1,484,000 after purchasing an additional 456 shares during the last quarter. Finally, Entropy Technologies LP increased its position in United Rentals by 18.7% during the 1st quarter. Entropy Technologies LP now owns 18,515 shares of the construction company's stock worth $13,489,000 after purchasing an additional 2,913 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company's stock.

United Rentals Stock Performance

Shares of URI opened at $1,140.19 on Monday. The company has a market cap of $70.97 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 1.51 and a beta of 1.79. The firm has a fifty day moving average of $1,052.87 and a 200-day moving average of $919.31. United Rentals, Inc. has a 1 year low of $701.59 and a 1 year high of $1,177.67. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.70 and a current ratio of 0.76.

United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 earnings per share (EPS) 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 business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the previous year, the firm posted $10.47 earnings per share. The business's revenue was up 11.8% on a year-over-year basis. As a group, equities analysts anticipate that United Rentals, Inc. will post 47.32 earnings per share for the current year.

United Rentals Announces Dividend

The business also recently disclosed 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. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, August 12th. United Rentals's payout ratio is currently 18.92%.

Key Headlines Impacting United Rentals

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

Analyst Upgrades and Downgrades

URI has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on United Rentals from $1,100.00 to $1,235.00 and gave the stock an "overweight" rating in a research note on Friday. Citigroup lifted their target price on shares of United Rentals from $1,270.00 to $1,330.00 and gave the company a "buy" rating in a report on Friday. KeyCorp reiterated an "overweight" rating and set a $1,350.00 target price on shares of United Rentals in a report on Friday. Weiss Ratings upgraded United Rentals from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday. Finally, UBS Group reaffirmed a "buy" rating and issued a $1,350.00 price objective on shares of United Rentals in a research report on Thursday. Fifteen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, United Rentals presently has an average rating of "Moderate Buy" and a consensus target price of $1,226.50.

United Rentals 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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