Capital Asset Advisory Services LLC Makes New Investment in United Rentals, Inc. (NYSE:URI)

Capital Asset Advisory Services LLC acquired a new position in shares of United Rentals, Inc. (NYSE:URI) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 295 shares of the construction company’s stock, valued at approximately $209,000.

A number of other institutional investors have also recently bought and sold shares of the business. Capital Research Global Investors boosted its position in United Rentals by 39.1% during the 4th quarter. Capital Research Global Investors now owns 6,399,808 shares of the construction company’s stock worth $3,669,806,000 after acquiring an additional 1,799,997 shares during the period. Norges Bank bought a new stake in shares of United Rentals in the 4th quarter valued at approximately $977,443,000. Dimensional Fund Advisors LP grew its stake in shares of United Rentals by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,246,092 shares of the construction company’s stock valued at $714,578,000 after buying an additional 56,948 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of United Rentals by 58,829.4% in the 4th quarter. International Assets Investment Management LLC now owns 1,043,051 shares of the construction company’s stock valued at $598,106,000 after buying an additional 1,041,281 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of United Rentals by 1.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 650,387 shares of the construction company’s stock valued at $372,945,000 after buying an additional 11,429 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Stock Performance

Shares of NYSE URI opened at $646.73 on Friday. The business has a fifty day simple moving average of $660.38 and a 200 day simple moving average of $644.07. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $43.07 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 2.02 and a beta of 1.75. 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 earnings results on Wednesday, April 24th. The construction company reported $9.15 EPS for the quarter, beating analysts’ consensus estimates of $8.35 by $0.80. The business had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.44 billion. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. United Rentals’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $7.95 earnings per share. Sell-side analysts expect that United Rentals, Inc. will post 43.87 EPS for the current year.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were paid a dividend of $1.63 per share. The ex-dividend date was Tuesday, May 7th. This represents a $6.52 annualized dividend and a yield of 1.01%. United Rentals’s dividend payout ratio is currently 17.66%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Raymond James assumed coverage on United Rentals in a research note on Friday. They issued an “outperform” rating and a $750.00 price target for the company. JPMorgan Chase & Co. began coverage on United Rentals in a research report on Friday, June 7th. They set an “overweight” rating and a $780.00 target price for the company. Citigroup began coverage on United Rentals in a report on Wednesday. They set a “buy” rating and a $745.00 price target for the company. Oppenheimer reiterated a “market perform” rating on shares of United Rentals in a report on Monday, April 29th. Finally, Truist Financial upped their price target on United Rentals from $793.00 to $796.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, United Rentals currently has an average rating of “Hold” and a consensus target price of $638.40.

Insiders Place Their Bets

In other United Rentals news, COO Michael D. Durand sold 559 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $674.56, for a total transaction of $377,079.04. Following the completion of the transaction, the chief operating officer now directly owns 8,052 shares in the company, valued at $5,431,557.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other United Rentals news, COO Michael D. Durand sold 559 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $674.56, for a total transaction of $377,079.04. Following the completion of the transaction, the chief operating officer now directly owns 8,052 shares in the company, valued at $5,431,557.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction, the chief executive officer now owns 103,400 shares of the company’s stock, valued at $72,341,742. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

United Rentals Profile

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.