United Rentals, Inc. $URI Stock: International Assets Investment Management LLC Raises Stake

Key Points

• International Assets Investment Management increased its United Rentals stake by 88,861% in the third quarter, to 1.499 million shares, representing 2.42% of the company. Institutional investors collectively own 96.26% of the stock.
• United Rentals beat quarterly estimates, reporting EPS of $15.55 versus $13.97 expected and revenue of $4.89 billion versus $4.71 billion; revenue rose 15.7% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $1,292.88. The company also declared a $1.97 quarterly dividend, or $7.88 annualized.

International Assets Investment Management LLC raised its position in United Rentals, Inc. (NYSE:URI - Free Report) by 88,861.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,499,000 shares of the construction company's stock after purchasing an additional 1,497,315 shares during the quarter. International Assets Investment Management LLC owned 2.42% of United Rentals worth $1,545,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in United Rentals in the 2nd quarter valued at $5,816,326,000. State Street Corp lifted its position in shares of United Rentals by 1.1% during the second quarter. State Street Corp now owns 2,993,837 shares of the construction company's stock worth $3,391,688,000 after purchasing an additional 32,238 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of United Rentals during the second quarter valued at $944,196,000. The Manufacturers Life Insurance Company purchased a new stake in shares of United Rentals during the second quarter valued at $716,129,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of United Rentals by 15.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 539,121 shares of the construction company's stock worth $610,765,000 after purchasing an additional 74,008 shares during the last quarter. Institutional investors own 96.26% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Zacks Research raised shares of United Rentals from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 22nd. Barclays boosted their price objective on shares of United Rentals from $715.00 to $950.00 and gave the company an "underweight" rating in a research report on Friday, July 24th. Bank of America restated a "buy" rating on shares of United Rentals in a research note on Thursday, October 22nd. Truist Financial raised their target price on shares of United Rentals from $1,395.00 to $1,450.00 and gave the stock a "buy" rating in a research report on Friday, October 23rd. Finally, Morgan Stanley raised their target price on shares of United Rentals from $1,335.00 to $1,350.00 and gave the stock an "overweight" rating in a research report on Friday, October 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,292.88.

United Rentals Stock Performance

URI stock opened at $1,173.72 on Wednesday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.80 and a quick ratio of 0.73. The business has a 50-day moving average price of $1,052.53 and a 200 day moving average price of $973.16. The company has a market capitalization of $72.68 billion, a P/E ratio of 25.80, a PEG ratio of 1.65 and a beta of 1.82. United Rentals, Inc. has a 1-year low of $701.59 and a 1-year high of $1,202.12.

United Rentals (NYSE:URI - Get Free Report) last posted its earnings results on Wednesday, October 21st. The construction company reported $15.55 EPS for the quarter, beating analysts' consensus estimates of $13.97 by $1.58. United Rentals had a net margin of 16.33% and a return on equity of 33.47%. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.71 billion. During the same quarter last year, the firm posted $11.70 EPS. The company's revenue for the quarter was up 15.7% on a year-over-year basis. As a group, equities research analysts forecast that United Rentals, Inc. will post 51.17 EPS for the current fiscal year.

United Rentals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Wednesday, November 11th will be paid a dividend of $1.97 per share. The ex-dividend date is Tuesday, November 10th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. United Rentals's dividend payout ratio (DPR) is currently 17.32%.

United Rentals Profile

United Rentals, Inc is an equipment rental company serving construction, industrial, infrastructure, utilities, government and other commercial customers. The company provides access to equipment and related services through a network of rental locations, helping customers manage projects without purchasing and maintaining all of the equipment they need.

Its rental fleet includes aerial work platforms, earthmoving equipment, material-handling equipment, general construction tools, trucks and trailers, and light-duty equipment.

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