Intech Investment Management LLC Boosts Stock Position in United Rentals, Inc. (NYSE:URI)

Intech Investment Management LLC grew its stake in shares of United Rentals, Inc. (NYSE:URI) by 44.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,660 shares of the construction company’s stock after acquiring an additional 10,094 shares during the period. Intech Investment Management LLC’s holdings in United Rentals were worth $21,122,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Essex Financial Services Inc. increased its holdings in shares of United Rentals by 31.9% in the second quarter. Essex Financial Services Inc. now owns 563 shares of the construction company’s stock worth $364,000 after purchasing an additional 136 shares during the period. Nomura Holdings Inc. bought a new position in shares of United Rentals in the fourth quarter worth $780,000. Forsta AP Fonden increased its holdings in shares of United Rentals by 2.8% in the first quarter. Forsta AP Fonden now owns 14,600 shares of the construction company’s stock worth $10,528,000 after purchasing an additional 400 shares during the period. Tidal Investments LLC increased its holdings in shares of United Rentals by 241.2% in the first quarter. Tidal Investments LLC now owns 4,859 shares of the construction company’s stock worth $3,504,000 after purchasing an additional 3,435 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of United Rentals in the fourth quarter worth $779,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Wall Street Analyst Weigh In

URI has been the topic of a number of research analyst reports. JPMorgan Chase & Co. initiated coverage on United Rentals in a research note on Friday, June 7th. They issued an “overweight” rating and a $780.00 target price on the stock. Evercore ISI increased their target price on United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. The Goldman Sachs Group increased their target price on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Raymond James began coverage on United Rentals in a research note on Friday, June 28th. They issued an “outperform” rating and a $750.00 target price on the stock. Finally, Citigroup began coverage on shares of United Rentals in a research report on Wednesday, June 26th. They set a “buy” rating and a $745.00 price target for the company. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, United Rentals presently has an average rating of “Hold” and an average target price of $675.15.

United Rentals Stock Performance

Shares of URI opened at $793.61 on Friday. 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, Inc. has a one year low of $387.01 and a one year high of $801.39. The company has a 50-day simple moving average of $717.64 and a two-hundred day simple moving average of $685.92. The firm has a market capitalization of $52.85 billion, a PE ratio of 21.50, a price-to-earnings-growth ratio of 1.72 and a beta of 1.68.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, July 24th. The construction company reported $10.70 EPS for the quarter, topping the consensus estimate of $10.48 by $0.22. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same period last year, the business posted $9.88 earnings per share. United Rentals’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, analysts anticipate that United Rentals, Inc. will post 44.39 EPS for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date was Wednesday, August 14th. United Rentals’s dividend payout ratio is 17.66%.

Insider Buying and Selling at United Rentals

In other United Rentals news, SVP Joli L. Gross sold 360 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $690.00, for a total transaction of $248,400.00. Following the completion of the transaction, the senior vice president now owns 4,090 shares of the company’s stock, valued at $2,822,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.