Verdence Capital Advisors LLC Increases Stake in United Rentals, Inc. $URI

Key Points

• Verdence Capital Advisors LLC increased its stake in United Rentals, Inc. by 13.0%, owning 8,086 shares worth approximately $6.09 million as of the latest SEC filing.
• United Rentals reported quarterly earnings of $10.47 per share, slightly below expectations, with revenue rising 4.5% year-over-year to $3.94 billion.
• The company announced a quarterly dividend of $1.79 per share, yielding 0.8%, with a low dividend payout ratio of 18.52%.

Verdence Capital Advisors LLC boosted its stake in United Rentals, Inc. (NYSE:URI - Free Report) by 13.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,086 shares of the construction company's stock after purchasing an additional 929 shares during the period. Verdence Capital Advisors LLC's holdings in United Rentals were worth $6,092,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of URI. Nuveen LLC purchased a new position in United Rentals in the 1st quarter worth approximately $402,291,000. JPMorgan Chase & Co. increased its stake in United Rentals by 98.1% in the 1st quarter. JPMorgan Chase & Co. now owns 1,093,805 shares of the construction company's stock worth $685,488,000 after purchasing an additional 541,579 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in United Rentals in the 2nd quarter worth approximately $152,069,000. The Manufacturers Life Insurance Company increased its stake in United Rentals by 28.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 849,786 shares of the construction company's stock worth $532,561,000 after purchasing an additional 190,007 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in United Rentals by 22.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 661,251 shares of the construction company's stock worth $414,406,000 after purchasing an additional 120,449 shares during the period. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Trading Down 2.9%

NYSE URI opened at $951.67 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.86 and a debt-to-equity ratio of 1.34. United Rentals, Inc. has a twelve month low of $525.91 and a twelve month high of $1,004.92. The firm has a market capitalization of $61.23 billion, a PE ratio of 24.61, a P/E/G ratio of 2.19 and a beta of 1.73. The stock's 50 day moving average is $937.56 and its 200 day moving average is $786.57.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The construction company reported $10.47 earnings per share 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 firm had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter in the prior year, the firm earned $10.70 earnings per share. The company'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. Research analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th were issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Wednesday, August 13th. United Rentals's dividend payout ratio (DPR) is presently 18.52%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on URI shares. KeyCorp lifted their price objective on United Rentals from $1,075.00 to $1,120.00 and gave the stock an "overweight" rating in a research report on Thursday, September 25th. Citigroup lifted their price objective on United Rentals from $1,000.00 to $1,080.00 and gave the stock a "buy" rating in a research report on Tuesday, September 23rd. JPMorgan Chase & Co. lifted their price objective on United Rentals from $1,000.00 to $1,150.00 and gave the stock an "overweight" rating in a research report on Monday, September 22nd. UBS Group lifted their price objective 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, BNP Paribas set a $900.00 price objective on United Rentals and gave the stock a "neutral" rating in a research report on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, United Rentals has a consensus rating of "Moderate Buy" and an average price target of $956.13.

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.

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