Federated Hermes Inc. Buys 2,438 Shares of United Rentals, Inc. (NYSE:URI)

Federated Hermes Inc. lifted its stake in shares of United Rentals, Inc. (NYSE:URI) by 11.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,054 shares of the construction company’s stock after purchasing an additional 2,438 shares during the quarter. Federated Hermes Inc.’s holdings in United Rentals were worth $14,910,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in URI. First Financial Corp IN acquired a new stake in United Rentals in the 1st quarter valued at $25,000. Crewe Advisors LLC bought a new position in United Rentals in the 1st quarter valued at about $27,000. Rise Advisors LLC acquired a new position in United Rentals during the 1st quarter valued at about $28,000. RFP Financial Group LLC increased its holdings in United Rentals by 115.8% during the 2nd quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock worth $27,000 after purchasing an additional 22 shares in the last quarter. Finally, Riverview Trust Co bought a new position in shares of United Rentals in the first quarter valued at approximately $31,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on URI shares. The Goldman Sachs Group increased their price target on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Truist Financial lifted their target price on shares of United Rentals from $785.00 to $873.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. assumed 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. Citigroup initiated coverage on United Rentals in a report on Wednesday, June 26th. They set a “buy” rating and a $745.00 price target on the stock. Finally, Raymond James initiated coverage on United Rentals in a research note on Friday, June 28th. They issued an “outperform” rating and a $750.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, United Rentals currently has a consensus rating of “Hold” and an average target price of $675.15.

United Rentals Trading Up 1.7 %

Shares of United Rentals stock opened at $741.66 on Tuesday. The company has a 50 day simple moving average of $712.20 and a two-hundred day simple moving average of $684.81. The firm has a market cap of $49.05 billion, a PE ratio of 20.09, a PEG ratio of 1.65 and a beta of 1.68. United Rentals, Inc. has a 1 year low of $387.01 and a 1 year high of $789.80. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.81 and a quick ratio of 0.76.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, July 24th. The construction company reported $10.70 EPS for the quarter, beating analysts’ consensus estimates of $10.48 by $0.22. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the prior year, the firm earned $9.88 earnings per share. The firm’s revenue was up 6.2% on a year-over-year basis. Analysts expect that United Rentals, Inc. will post 44.39 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.88%. The ex-dividend date was Wednesday, August 14th. United Rentals’s dividend payout ratio (DPR) is presently 17.66%.

Insider Transactions at United Rentals

In related news, SVP Joli L. Gross sold 360 shares of United Rentals stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $690.00, for a total value of $248,400.00. Following the transaction, the senior vice president now owns 4,090 shares in the company, valued at approximately $2,822,100. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.53% of the company’s stock.

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.