Wellington Management Group LLP Has $38.24 Million Stock Holdings in United Rentals, Inc. $URI

Key Points

• Wellington Management significantly increased its United Rentals stake by 1,665.6% in the second quarter, bringing its holdings to 33,759 shares valued at approximately $38.24 million. Institutional investors and hedge funds collectively own 96.26% of the company.
• United Rentals exceeded quarterly expectations, reporting $12.76 in EPS and $4.41 billion in revenue, with revenue up 11.8% year over year. Analysts expect $48.55 in full-year EPS.
• Wall Street maintains a favorable outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $1,246.19. The company also pays a quarterly dividend of $1.97 per share, yielding about 0.8%.

Wellington Management Group LLP boosted its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 1,665.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,759 shares of the construction company's stock after purchasing an additional 31,847 shares during the quarter. Wellington Management Group LLP owned about 0.05% of United Rentals worth $38,245,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Woodline Partners LP grew its stake in United Rentals by 40.0% in the 1st quarter. Woodline Partners LP now owns 5,518 shares of the construction company's stock valued at $3,458,000 after buying an additional 1,577 shares during the last quarter. Sei Investments Co. lifted its position in United Rentals by 24.7% during the second quarter. Sei Investments Co. now owns 27,136 shares of the construction company's stock worth $20,444,000 after acquiring an additional 5,375 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in United Rentals by 43.6% during the second quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company's stock worth $42,233,000 after acquiring an additional 17,030 shares during the last quarter. HUB Investment Partners LLC boosted its holdings in shares of United Rentals by 11.3% during the second quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company's stock worth $1,661,000 after acquiring an additional 223 shares during the period. Finally, Diversify Advisory Services LLC boosted its holdings in shares of United Rentals by 338.7% during the second quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company's stock worth $1,246,000 after acquiring an additional 1,277 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Stock Up 1.6%

NYSE URI opened at $1,009.78 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38. The company has a market cap of $62.85 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 1.46 and a beta of 1.79. The company has a 50 day moving average of $1,087.43 and a 200-day moving average of $961.69. United Rentals, Inc. has a 1-year low of $701.59 and a 1-year high of $1,179.18.

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

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were issued a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, August 12th. United Rentals's dividend payout ratio is 18.92%.

Insider Activity

In related news, EVP William Grace sold 1,500 shares of the firm's stock in a transaction on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total value 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. This trade represents a 19.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on URI. Argus reiterated a "buy" rating and set a $1,250.00 target price on shares of United Rentals in a research note on Tuesday, August 4th. Raymond James Financial restated an "outperform" rating and issued a $1,275.00 price target on shares of United Rentals in a research note on Wednesday, June 10th. Evercore reaffirmed an "outperform" rating and issued a $1,101.00 price objective on shares of United Rentals in a report on Monday, May 11th. Wells Fargo & Company increased their price objective on United Rentals from $1,245.00 to $1,355.00 and gave the stock an "overweight" rating in a research report on Friday, July 24th. Finally, Zacks Research raised United Rentals from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. One 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 company. According to data from MarketBeat.com, United Rentals presently has an average rating of "Moderate Buy" and an average target price of $1,246.19.

United Rentals 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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