Los Angeles Capital Management LLC Raises Stake in United Rentals, Inc. (NYSE:URI)

Los Angeles Capital Management LLC grew its stake in United Rentals, Inc. (NYSE:URI) by 38.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,713 shares of the construction company’s stock after purchasing an additional 3,248 shares during the period. Los Angeles Capital Management LLC’s holdings in United Rentals were worth $8,446,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. CWM LLC grew its holdings in United Rentals by 3.5% in the first quarter. CWM LLC now owns 4,737 shares of the construction company’s stock valued at $3,416,000 after purchasing an additional 159 shares during the last quarter. General Partner Inc. acquired a new stake in United Rentals during the first quarter worth about $56,000. Nomura Holdings Inc. purchased a new stake in shares of United Rentals during the 4th quarter worth about $780,000. HighPoint Advisor Group LLC acquired a new position in shares of United Rentals during the 4th quarter valued at $318,000. Finally, Accent Capital Management LLC acquired a new position in shares of United Rentals during the fourth quarter worth $287,000. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Stock Up 4.1 %

Shares of United Rentals stock opened at $644.89 on Thursday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.89 and a quick ratio of 0.83. The firm has a market cap of $42.94 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 2.09 and a beta of 1.75. The stock’s 50-day moving average is $663.45 and its 200 day moving average is $637.77. United Rentals, Inc. has a one year low of $387.01 and a one year high of $732.37.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, beating the consensus estimate of $8.35 by $0.80. The business had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.44 billion. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the business earned $7.95 EPS. Equities research analysts anticipate that United Rentals, Inc. will post 43.77 EPS for the current year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Tuesday, May 7th. United Rentals’s dividend payout ratio (DPR) is presently 17.66%.

Insiders Place Their Bets

In other news, CEO Matthew John Flannery sold 8,379 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total transaction of $5,862,199.77. Following the completion of the sale, the chief executive officer now owns 103,400 shares of the company’s stock, valued at $72,341,742. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other United Rentals news, COO Michael D. Durand sold 559 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $674.56, for a total value of $377,079.04. Following the sale, the chief operating officer now owns 8,052 shares in the company, valued at $5,431,557.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Matthew John Flannery sold 8,379 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total value of $5,862,199.77. Following the completion of the sale, the chief executive officer now directly owns 103,400 shares in the company, valued at $72,341,742. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

Analysts Set New Price Targets

URI has been the subject of several recent research reports. Truist Financial boosted their target price on shares of United Rentals from $793.00 to $796.00 and gave the company a “buy” rating in a research note on Monday, April 29th. JPMorgan Chase & Co. initiated coverage on shares of United Rentals in a research note on Friday, June 7th. They set an “overweight” rating and a $780.00 target price on the stock. Stifel Nicolaus boosted their price target on shares of United Rentals from $720.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. The Goldman Sachs Group raised their price objective on United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Oppenheimer restated a “market perform” rating on shares of United Rentals in a research report on Monday, April 29th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, United Rentals has an average rating of “Hold” and an average price target of $612.73.

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.