Corebridge Financial Inc. Sells 713 Shares of United Rentals, Inc. $URI

Key Points

• Corebridge Financial Inc. has reduced its stake in United Rentals, Inc. by 4.2%, owning 16,099 shares valued at over $10 million after selling 713 shares in the first quarter.
• Contrarily, GAMMA Investing LLC significantly increased its holdings by 77,674.5%, now owning 887,407 shares worth about $556 million, reflecting a major change in institutional investment dynamics.
• United Rentals recently reported $3.94 billion in revenue for the quarter, surpassing analyst estimates, though the EPS missed expectations at $10.47 compared to the consensus of $10.54.

Corebridge Financial Inc. lowered its stake in United Rentals, Inc. (NYSE:URI - Free Report) by 4.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,099 shares of the construction company's stock after selling 713 shares during the period. Corebridge Financial Inc.'s holdings in United Rentals were worth $10,089,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in URI. Vanguard Group Inc. boosted its holdings in shares of United Rentals by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 7,422,036 shares of the construction company's stock valued at $4,651,390,000 after buying an additional 29,501 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of United Rentals by 98.1% during the 1st 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 in the last quarter. GAMMA Investing LLC boosted its holdings in shares of United Rentals by 77,674.5% during the 1st 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 in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of United Rentals by 22.3% during the 1st 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 in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of United Rentals by 0.8% during the 1st quarter. Northern Trust Corp now owns 661,166 shares of the construction company's stock valued at $414,353,000 after buying an additional 5,113 shares in the last quarter. Institutional investors own 96.26% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on URI. Argus set a $935.00 target price on shares of United Rentals in a report on Tuesday, August 12th. Truist Financial boosted their target price on shares of United Rentals from $786.00 to $952.00 and gave the company a "buy" rating in a report on Friday, July 25th. Redburn Atlantic lowered United Rentals from a "buy" rating to a "neutral" rating and set a $760.00 price target for the company. in a research report on Friday, June 13th. UBS Group lifted their price target on United Rentals from $780.00 to $835.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, The Goldman Sachs Group lifted their price target on United Rentals from $770.00 to $850.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, United Rentals currently has an average rating of "Moderate Buy" and a consensus target price of $842.86.

United Rentals Stock Performance

NYSE:URI traded up $2.54 during mid-day trading on Monday, reaching $957.78. The company's stock had a trading volume of 508,051 shares, compared to its average volume of 478,153. United Rentals, Inc. has a 12-month low of $525.91 and a 12-month high of $961.16. The firm's fifty day moving average price is $846.74 and its two-hundred day moving average price is $720.66. The company has a current ratio of 0.86, a quick ratio of 0.80 and a debt-to-equity ratio of 1.34. The stock has a market cap of $61.62 billion, a P/E ratio of 24.77, a PEG ratio of 2.21 and a beta of 1.72.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The construction company reported $10.47 EPS for the quarter, missing the consensus estimate of $10.54 by ($0.07). United Rentals had a net margin of 16.11% and a return on equity of 32.01%. The business had revenue of $3.94 billion for the quarter, compared to analysts' expectations of $3.90 billion. During the same period in the previous year, the company earned $10.70 EPS. United Rentals's revenue for the quarter was up 4.5% compared to the same quarter last year. United Rentals has set its FY 2025 guidance at EPS. On average, equities analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th were paid a dividend of $1.79 per share. The ex-dividend date was Wednesday, August 13th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 0.7%. United Rentals's payout ratio is 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.