First Trust Direct Indexing L.P. Has $1.79 Million Holdings in United Rentals, Inc. (NYSE:URI)

First Trust Direct Indexing L.P. raised its stake in United Rentals, Inc. (NYSE:URI) by 14.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,483 shares of the construction company’s stock after acquiring an additional 308 shares during the period. First Trust Direct Indexing L.P.’s holdings in United Rentals were worth $1,791,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Glenmede Trust Co. NA grew its stake in United Rentals by 71.8% during the third quarter. Glenmede Trust Co. NA now owns 7,348 shares of the construction company’s stock worth $3,267,000 after buying an additional 3,071 shares during the last quarter. Axxcess Wealth Management LLC acquired a new position in shares of United Rentals during the third quarter valued at $746,000. Royal London Asset Management Ltd. boosted its holdings in United Rentals by 8.7% in the third quarter. Royal London Asset Management Ltd. now owns 38,230 shares of the construction company’s stock valued at $17,004,000 after acquiring an additional 3,045 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in United Rentals by 12.7% in the third quarter. The Manufacturers Life Insurance Company now owns 638,958 shares of the construction company’s stock worth $284,061,000 after purchasing an additional 72,066 shares during the period. Finally, Toroso Investments LLC lifted its position in United Rentals by 22.2% during the 3rd quarter. Toroso Investments LLC now owns 3,852 shares of the construction company’s stock valued at $1,712,000 after purchasing an additional 700 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at United Rentals

In related news, COO Michael D. Durand sold 559 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now owns 8,052 shares in the company, valued at approximately $5,431,557.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Matthew John Flannery sold 8,379 shares of United Rentals stock in a transaction dated 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 transaction, the chief executive officer now directly owns 103,400 shares of the company’s stock, valued at approximately $72,341,742. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Michael D. Durand sold 559 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $674.56, for a total value of $377,079.04. Following the sale, the chief operating officer now directly owns 8,052 shares of the company’s stock, 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.

United Rentals Stock Performance

United Rentals stock opened at $653.95 on Friday. The stock has a market cap of $43.55 billion, a PE ratio of 17.71, a P/E/G ratio of 2.16 and a beta of 1.71. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 1.39. United Rentals, Inc. has a 12-month low of $387.01 and a 12-month high of $732.37. The business’s 50-day moving average price is $659.53 and its two-hundred day moving average price is $646.94.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 EPS for the quarter, beating the consensus estimate of $8.35 by $0.80. The business had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.44 billion. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $7.95 EPS. As a group, analysts expect that United Rentals, Inc. will post 43.61 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Tuesday, May 7th. United Rentals’s payout ratio is 17.66%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Stifel Nicolaus lifted their target price on shares of United Rentals from $720.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Raymond James assumed coverage on shares of United Rentals in a report on Friday, June 28th. They issued an “outperform” rating and a $750.00 price target for the company. Truist Financial reduced their price target on United Rentals from $796.00 to $785.00 and set a “buy” rating for the company in a research report on Tuesday. The Goldman Sachs Group raised their target price on shares of United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. began coverage on United Rentals in a report on Friday, June 7th. They issued an “overweight” rating and a $780.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $637.67.

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.