Aristeia Capital L.L.C. Increases Stock Holdings in United Rentals, Inc. (NYSE:URI)

Aristeia Capital L.L.C. raised its position in United Rentals, Inc. (NYSE:URI) by 149.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 964 shares of the construction company’s stock after acquiring an additional 578 shares during the quarter. Aristeia Capital L.L.C.’s holdings in United Rentals were worth $623,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in United Rentals by 17.1% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 95,058 shares of the construction company’s stock worth $61,477,000 after acquiring an additional 13,863 shares during the last quarter. Gateway Advisory LLC raised its holdings in shares of United Rentals by 8.6% in the 2nd quarter. Gateway Advisory LLC now owns 857 shares of the construction company’s stock valued at $554,000 after purchasing an additional 68 shares in the last quarter. Distillate Capital Partners LLC purchased a new stake in shares of United Rentals during the 2nd quarter worth $17,400,000. Marshall Wace LLP grew its stake in shares of United Rentals by 259.3% during the second quarter. Marshall Wace LLP now owns 150,152 shares of the construction company’s stock worth $97,108,000 after purchasing an additional 108,360 shares in the last quarter. Finally, Xponance Inc. increased its holdings in United Rentals by 2.7% in the second quarter. Xponance Inc. now owns 10,744 shares of the construction company’s stock valued at $6,948,000 after buying an additional 281 shares during the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group raised their target price on United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Citigroup started coverage on shares of United Rentals in a research report on Wednesday, June 26th. They set a “buy” rating and a $745.00 price objective for the company. Evercore ISI increased their target price on shares of United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Truist Financial boosted their price target on shares of United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. raised their price objective on United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a report on Monday. Three 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $687.46.

Insider Activity

In related news, SVP Joli L. Gross sold 360 shares of the company’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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.53% of the company’s stock.

United Rentals Trading Up 2.0 %

Shares of United Rentals stock opened at $798.95 on Tuesday. United Rentals, Inc. has a 1 year low of $387.01 and a 1 year high of $803.48. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.81 and a quick ratio of 0.76. The business has a 50 day moving average price of $724.10 and a 200 day moving average price of $688.13. The company has a market capitalization of $53.20 billion, a P/E ratio of 21.64, a P/E/G ratio of 1.72 and a beta of 1.68.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.48 by $0.22. The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.77 billion. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $9.88 EPS. Sell-side analysts anticipate that United Rentals, Inc. will post 44.39 EPS 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 issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.82%. The ex-dividend date was Wednesday, August 14th. United Rentals’s dividend payout ratio (DPR) is 17.66%.

About United Rentals

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.