Voya Investment Management LLC Grows Stock Holdings in United Rentals, Inc. $URI

Key Points

• Voya Investment Management LLC increased its stake in United Rentals, Inc. by 19.1% during the first quarter, now owning 35,460 shares valued at approximately $22.2 million.
• Multiple large investors have also increased their holdings in United Rentals, with JPMorgan Chase & Co. raising its stake by 98.1% during the same period.
• Despite financial performance slightly missing earnings estimates, analysts have a consensus rating of "Moderate Buy" for the stock, with an average target price of $842.86.

Voya Investment Management LLC raised its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 19.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,460 shares of the construction company's stock after purchasing an additional 5,699 shares during the period. Voya Investment Management LLC owned 0.05% of United Rentals worth $22,223,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of URI. GAMMA Investing LLC lifted its position in United Rentals by 77,674.5% in the 1st quarter. GAMMA Investing LLC now owns 887,407 shares of the construction company's stock valued at $556,138,000 after acquiring an additional 886,266 shares in the last quarter. Nuveen LLC bought a new stake in shares of United Rentals in the 1st quarter worth approximately $402,291,000. JPMorgan Chase & Co. raised its holdings in shares of 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. The Manufacturers Life Insurance Company grew 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 valued at $532,561,000 after buying an additional 190,007 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew 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 valued at $414,406,000 after buying an additional 120,449 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Price Performance

NYSE URI traded up $10.94 on Tuesday, reaching $958.84. The company had a trading volume of 447,346 shares, compared to its average volume of 480,459. The company has a quick ratio of 0.80, a current ratio of 0.86 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $61.69 billion, a PE ratio of 24.80, a price-to-earnings-growth ratio of 2.19 and a beta of 1.72. The firm's 50 day moving average price is $892.95 and its 200 day moving average price is $743.55. United Rentals, Inc. has a 12 month low of $525.91 and a 12 month high of $980.53.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The construction company reported $10.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $10.54 by ($0.07). The company had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.90 billion. United Rentals had a net margin of 16.11% and a return on equity of 32.01%. The business's revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $10.70 earnings per share. United Rentals has set its FY 2025 guidance at EPS. As a group, equities analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Announces Dividend

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 $1.79 dividend. 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%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on URI shares. BNP Paribas set a $900.00 price target on shares of United Rentals in a report on Tuesday. Redburn Atlantic lowered shares of 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. Truist Financial upped their price target on shares of United Rentals from $786.00 to $952.00 and gave the company a "buy" rating in a research report on Friday, July 25th. UBS Group increased their price objective on United Rentals from $780.00 to $835.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, The Goldman Sachs Group raised their price objective on shares of United Rentals from $770.00 to $850.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $850.00.

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.