MorganRosel Wealth Management LLC Acquires New Holdings in United Rentals, Inc. (NYSE:URI)

MorganRosel Wealth Management LLC acquired a new stake in shares of United Rentals, Inc. (NYSE:URI) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 300 shares of the construction company’s stock, valued at approximately $216,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Louisiana State Employees Retirement System bought a new stake in United Rentals in the fourth quarter worth about $2,351,000. Verdence Capital Advisors LLC purchased a new position in United Rentals in the 4th quarter worth about $257,000. Nomura Holdings Inc. purchased a new position in United Rentals in the 4th quarter worth about $780,000. Pinnacle Associates Ltd. increased its stake in United Rentals by 55.5% in the 4th quarter. Pinnacle Associates Ltd. now owns 6,413 shares of the construction company’s stock worth $3,677,000 after purchasing an additional 2,289 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in United Rentals by 46.2% in the 4th quarter. Victory Capital Management Inc. now owns 99,372 shares of the construction company’s stock worth $56,982,000 after purchasing an additional 31,398 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors.

United Rentals Stock Performance

Shares of NYSE:URI opened at $640.84 on Tuesday. The business’s fifty day moving average price is $660.61 and its two-hundred day moving average price is $646.32. United Rentals, Inc. has a fifty-two week low of $387.01 and a fifty-two week high of $732.37. The stock has a market capitalization of $42.67 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 2.12 and a beta of 1.71. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.89 and a quick ratio of 0.83.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, beating analysts’ consensus estimates of $8.35 by $0.80. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The firm had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.44 billion. During the same period in the prior year, the business posted $7.95 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. As a group, analysts predict that United Rentals, Inc. will post 43.87 EPS for the current fiscal year.

United Rentals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Tuesday, May 7th. United Rentals’s payout ratio is presently 17.66%.

Insider Transactions at United Rentals

In other news, 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 transaction of $5,862,199.77. Following the sale, the chief executive officer now owns 103,400 shares in the company, valued at $72,341,742. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, 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 transaction of $5,862,199.77. Following the sale, the chief executive officer now owns 103,400 shares in the company, valued at $72,341,742. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael D. Durand sold 559 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $674.56, for a total value of $377,079.04. Following the transaction, the chief operating officer now directly owns 8,052 shares in the company, valued at approximately $5,431,557.12. The disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. The Goldman Sachs Group lifted their price target on United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Truist Financial lifted their price target on United Rentals from $793.00 to $796.00 and gave the company a “buy” rating in a report on Monday, April 29th. Citigroup initiated coverage on United Rentals in a report on Wednesday, June 26th. They set a “buy” rating and a $745.00 price target for the company. JPMorgan Chase & Co. initiated coverage on United Rentals in a report on Friday, June 7th. They issued an “overweight” rating and a $780.00 target price for the company. Finally, Raymond James started coverage on United Rentals in a report on Friday. They issued an “outperform” rating and a $750.00 target price for the company. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, United Rentals currently has an average rating of “Hold” and an average price target of $638.40.

United Rentals Company 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.