Ieq Capital LLC Purchases 242 Shares of United Rentals, Inc. (NYSE:URI)

Ieq Capital LLC increased its position in United Rentals, Inc. (NYSE:URI) by 7.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,573 shares of the construction company’s stock after acquiring an additional 242 shares during the quarter. Ieq Capital LLC’s holdings in United Rentals were worth $2,311,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Financial Corp IN purchased a new position in shares of United Rentals in the first quarter worth about $25,000. Crewe Advisors LLC purchased a new position in United Rentals in the 1st quarter valued at approximately $27,000. RFP Financial Group LLC raised 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 valued at $27,000 after acquiring an additional 22 shares during the period. Rise Advisors LLC purchased a new stake in shares of United Rentals during the first quarter worth $28,000. Finally, Riverview Trust Co bought a new position in shares of United Rentals in the first quarter worth $31,000. 96.26% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Joli L. Gross sold 360 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $690.00, for a total value of $248,400.00. Following the completion of the sale, the senior vice president now owns 4,090 shares of the company’s stock, valued at approximately $2,822,100. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.53% of the company’s stock.

United Rentals Stock Performance

Shares of NYSE URI opened at $783.60 on Friday. The stock’s 50-day moving average is $722.27 and its 200 day moving average is $687.22. The stock has a market cap of $52.18 billion, a price-to-earnings ratio of 21.22, a P/E/G ratio of 1.72 and a beta of 1.68. United Rentals, Inc. has a 1-year low of $387.01 and a 1-year high of $801.39. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39.

United Rentals (NYSE:URI) last posted its quarterly earnings results 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 firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period last year, the firm posted $9.88 earnings per share. The business’s revenue was up 6.2% compared to the same quarter last year. On average, sell-side analysts anticipate that United Rentals, Inc. will post 44.39 EPS for the current fiscal year.

United Rentals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $6.52 annualized dividend and a yield of 0.83%. United Rentals’s payout ratio is 17.66%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Evercore ISI boosted their price objective on United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Truist Financial increased their price target on shares of United Rentals from $785.00 to $873.00 and gave the stock a “buy” rating in a report on Friday, July 26th. JPMorgan Chase & Co. initiated coverage on shares of United Rentals in a research note on Friday, June 7th. They set an “overweight” rating and a $780.00 price objective for the company. Citigroup started coverage on shares of United Rentals in a research note on Wednesday, June 26th. They issued a “buy” rating and a $745.00 target price on the stock. Finally, The Goldman Sachs Group boosted their price target on shares of United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $675.15.

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.