Van ECK Associates Corp raised its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 226.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,836 shares of the construction company's stock after buying an additional 6,128 shares during the period. Van ECK Associates Corp's holdings in United Rentals were worth $10,010,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. Wellington Management Group LLP raised its stake in United Rentals by 1,665.6% in the second quarter. Wellington Management Group LLP now owns 33,759 shares of the construction company's stock valued at $38,245,000 after buying an additional 31,847 shares during the last quarter. Lombard Odier Asset Management Europe Ltd acquired a new stake in shares of United Rentals in the second quarter worth approximately $15,671,000. Archer Investment Corp acquired a new position in United Rentals during the second quarter worth $1,146,000. Fox Hill Wealth Management purchased a new stake in shares of United Rentals in the second quarter valued at about $402,000. Finally, Kingsview Wealth Management LLC acquired a new stake in shares of United Rentals during the 2nd quarter worth about $565,000. Hedge funds and other institutional investors own 96.26% of the company's stock.
Insider Activity
In other United Rentals news, EVP William E. Grace sold 1,500 shares of the firm's 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 completion of the transaction, the executive vice president directly owned 6,062 shares of the company's stock, valued at $6,869,155.30. This trade represents a 19.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.47% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have commented on URI. Evercore restated an "outperform" rating and set a $1,101.00 price target on shares of United Rentals in a research note on Monday, May 11th. BNP Paribas Exane upgraded United Rentals from a "neutral" rating to an "outperform" rating and set a $1,320.00 price objective for the company in a research note on Monday, June 29th. Morgan Stanley set a $1,335.00 price objective on United Rentals and gave the stock an "overweight" rating in a research report on Friday, July 24th. Zacks Research raised United Rentals from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. Finally, UBS Group increased their target price on shares of United Rentals from $1,300.00 to $1,350.00 and gave the stock a "buy" rating in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, United Rentals has an average rating of "Moderate Buy" and a consensus price target of $1,246.19.
View Our Latest Stock Analysis on URI
United Rentals Price Performance
URI stock opened at $989.49 on Wednesday. The stock has a market capitalization of $61.59 billion, a price-to-earnings ratio of 23.76, a price-to-earnings-growth ratio of 1.53 and a beta of 1.79. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38. United Rentals, Inc. has a 52-week low of $701.59 and a 52-week high of $1,179.18. The stock's fifty day simple moving average is $1,094.73 and its 200-day simple moving average is $959.71.
United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, topping the consensus estimate of $11.53 by $1.23. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same period in the prior year, the firm posted $10.47 EPS. The company's revenue was up 11.8% on a year-over-year basis. Equities research analysts expect that United Rentals, Inc. will post 48.55 EPS for the current year.
United Rentals Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were paid a dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Wednesday, August 12th. United Rentals's dividend payout ratio (DPR) is 18.92%.
About United Rentals
(
Free Report)
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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