UNIVEST FINANCIAL Corp Takes $16.72 Million Position in United Rentals, Inc. $URI

Key Points

• UNIVEST FINANCIAL Corp acquired 14,756 United Rentals shares worth approximately $16.72 million in the second quarter, making URI about 0.8% of its portfolio. Institutional investors collectively own 96.26% of the company.
• United Rentals reported quarterly EPS of $12.76 and revenue of $4.41 billion, exceeding analyst expectations, while revenue rose 11.8% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $1,246.19.
• The company declared a quarterly dividend of $1.97 per share, equal to an annualized $7.88 and a 0.7% yield. Separately, EVP William E. Grace sold 1,500 shares for approximately $1.70 million.

UNIVEST FINANCIAL Corp bought a new position in United Rentals, Inc. (NYSE:URI - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 14,756 shares of the construction company's stock, valued at approximately $16,717,000. United Rentals comprises approximately 0.8% of UNIVEST FINANCIAL Corp's investment portfolio, making the stock its 25th biggest position.

A number of other large investors have also added to or reduced their stakes in URI. SFE Investment Counsel purchased a new position in United Rentals in the second quarter worth about $12,765,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of United Rentals by 18.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,756 shares of the construction company's stock valued at $9,514,000 after purchasing an additional 1,846 shares during the period. Eventide Asset Management LLC increased its position in shares of United Rentals by 19.6% during the 4th quarter. Eventide Asset Management LLC now owns 95,940 shares of the construction company's stock valued at $77,666,000 after purchasing an additional 15,696 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of United Rentals by 52.0% during the 4th quarter. Sequoia Financial Advisors LLC now owns 3,241 shares of the construction company's stock valued at $2,623,000 after purchasing an additional 1,109 shares during the last quarter. Finally, Bridges Investment Management Inc. lifted its stake in shares of United Rentals by 2.0% in the 4th quarter. Bridges Investment Management Inc. now owns 69,583 shares of the construction company's stock worth $56,315,000 after purchasing an additional 1,354 shares during the period. Institutional investors own 96.26% of the company's stock.

Insider Activity at United Rentals

In related news, EVP William E. Grace sold 1,500 shares of United Rentals stock in a transaction on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the transaction, the executive vice president owned 6,062 shares in the company, valued at approximately $6,869,155.30. The trade was a 19.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.47% of the stock is owned by insiders.

United Rentals Trading Up 1.1%

Shares of NYSE:URI opened at $1,166.11 on Tuesday. The stock has a 50 day moving average of $1,096.63 and a 200 day moving average of $942.44. The company has a market cap of $72.58 billion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 1.49 and a beta of 1.80. United Rentals, Inc. has a 12-month low of $701.59 and a 12-month high of $1,179.18. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI - Get Free Report) last released its earnings results on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, topping analysts' consensus estimates of $11.53 by $1.23. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The company had revenue of $4.41 billion for the quarter, compared to analysts' expectations of $4.22 billion. During the same quarter last year, the business earned $10.47 EPS. The firm's revenue was up 11.8% compared to the same quarter last year. As a group, equities research analysts expect that United Rentals, Inc. will post 48.55 EPS for the current year.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be given a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Wednesday, August 12th. United Rentals's dividend payout ratio (DPR) is presently 18.92%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Robert W. Baird set a $1,300.00 price objective on shares of United Rentals in a report on Friday, July 24th. KeyCorp reaffirmed an "overweight" rating and set a $1,350.00 target price on shares of United Rentals in a report on Friday, July 24th. Evercore reiterated an "outperform" rating and issued a $1,101.00 price target on shares of United Rentals in a research report on Monday, May 11th. 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. Finally, Zacks Research upgraded United Rentals from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, United Rentals currently has an average rating of "Moderate Buy" and an average target price of $1,246.19.

United Rentals Company 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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