United Rentals, Inc. $URI Stock: Soltis Investment Advisors LLC Boosts Holdings

Key Points

• Soltis Investment Advisors increased its United Rentals stake by 488.4% in the third quarter, while institutional investors and hedge funds collectively owned 96.26% of the company’s shares.
• United Rentals reported strong quarterly results, with EPS of $15.55 and revenue of $4.89 billion, exceeding analyst estimates; revenue rose 15.7% year over year.
• The company declared a quarterly dividend of $1.97 per share, equal to a $7.88 annualized payout and a 0.7% yield. Analysts maintained a generally bullish outlook, with a consensus “Moderate Buy” rating and a $1,288.19 target price.

Soltis Investment Advisors LLC grew its stake in United Rentals, Inc. (NYSE:URI - Free Report) by 488.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,418 shares of the construction company's stock after buying an additional 1,177 shares during the period. Soltis Investment Advisors LLC's holdings in United Rentals were worth $1,419,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in United Rentals during the 2nd quarter worth about $5,816,326,000. State Street Corp increased its holdings in shares of United Rentals by 1.1% in the second quarter. State Street Corp now owns 2,993,837 shares of the construction company's stock valued at $3,391,688,000 after purchasing an additional 32,238 shares during the period. Bank of America Corp DE acquired a new position in shares of United Rentals in the second quarter valued at about $944,196,000. The Manufacturers Life Insurance Company purchased a new position in shares of United Rentals in the second quarter worth about $716,129,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Stock Performance

NYSE URI opened at $1,167.43 on Friday. The stock has a 50-day simple moving average of $1,049.13 and a two-hundred day simple moving average of $970.70. The firm has a market capitalization of $72.29 billion, a P/E ratio of 25.66, a PEG ratio of 1.70 and a beta of 1.83. United Rentals, Inc. has a fifty-two week low of $701.59 and a fifty-two week high of $1,202.12. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.73 and a current ratio of 0.80.

United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings data on Wednesday, October 21st. The construction company reported $15.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $13.97 by $1.58. United Rentals had a return on equity of 33.47% and a net margin of 16.33%. The business had revenue of $4.89 billion during the quarter, compared to analysts' expectations of $4.71 billion. During the same quarter in the previous year, the firm posted $11.70 EPS. The company's revenue for the quarter was up 15.7% on a year-over-year basis. On average, equities analysts forecast that United Rentals, Inc. will post 50.83 earnings per share for the current year.

United Rentals Dividend Announcement

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

Wall Street Analysts Forecast Growth

URI has been the subject of a number of research reports. Sanford C. Bernstein set a $1,258.00 target price on United Rentals in a report on Friday, October 23rd. Bank of America reiterated a "buy" rating on shares of United Rentals in a report on Thursday, October 22nd. Zacks Research raised shares of United Rentals from a "hold" rating to a "strong-buy" rating in a research report on Thursday, October 22nd. Barclays lifted 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. Finally, Wells Fargo & Company upped their price objective on shares of United Rentals from $1,245.00 to $1,355.00 and gave the company an "overweight" rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,288.19.

United Rentals Company 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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