United Rentals, Inc. $URI Stake Boosted by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors LLC raised its stake in United Rentals, Inc. by 56.6% during the second quarter, holding 1,345 shares worth approximately $1,013,000.
• In the first quarter, several major hedge funds significantly increased their holdings in United Rentals, with GAMMA Investing LLC boosting its stake by 77,674.5% to own 887,407 shares valued at $556.1 million.
• Analysts have given United Rentals a consensus rating of Moderate Buy with an average target price of $908.25, following recent price adjustments from firms like Citigroup and Truist Financial.

Farther Finance Advisors LLC raised its stake in United Rentals, Inc. (NYSE:URI - Free Report) by 56.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,345 shares of the construction company's stock after buying an additional 486 shares during the quarter. Farther Finance Advisors LLC's holdings in United Rentals were worth $1,013,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in URI. GAMMA Investing LLC lifted its stake in 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 buying an additional 886,266 shares during the last quarter. Nuveen LLC bought a new stake in United Rentals in the first quarter valued at $402,291,000. JPMorgan Chase & Co. lifted its stake in 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 buying an additional 541,579 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in United Rentals by 28.8% in the first quarter. The Manufacturers Life Insurance Company now owns 849,786 shares of the construction company's stock valued at $532,561,000 after buying an additional 190,007 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in 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 buying an additional 120,449 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on URI. Citigroup raised their target price on United Rentals from $1,000.00 to $1,080.00 and gave the company a "buy" rating in a research note on Tuesday. Truist Financial lifted their price objective on shares of United Rentals from $786.00 to $952.00 and gave the company a "buy" rating in a research note on Friday, July 25th. KeyCorp lifted their price objective on shares of United Rentals from $960.00 to $1,075.00 and gave the company an "overweight" rating in a research note on Friday, August 29th. Sanford C. Bernstein set a $1,128.00 price objective on shares of United Rentals and gave the company an "outperform" rating in a research note on Tuesday. Finally, Bank of America lifted their price objective on shares of United Rentals from $895.00 to $900.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $908.25.

United Rentals Price Performance

NYSE:URI opened at $935.70 on Thursday. The business's 50-day moving average price is $908.97 and its 200 day moving average price is $755.97. The firm has a market cap of $60.20 billion, a P/E ratio of 24.20, a PEG ratio of 2.21 and a beta of 1.72. United Rentals, Inc. has a 52-week low of $525.91 and a 52-week high of $980.53. The company has a quick ratio of 0.80, a current ratio of 0.86 and a debt-to-equity ratio of 1.34.

United Rentals (NYSE:URI - Get Free Report) last released its 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 firm had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.90 billion. United Rentals had a return on equity of 32.01% and a net margin of 16.11%.United Rentals's revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm earned $10.70 earnings per share. United Rentals has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th were issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, August 13th. United Rentals's payout ratio is presently 18.52%.

About United Rentals

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.

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