Gateway Advisory LLC Boosts Holdings in United Rentals, Inc. (NYSE:URI)

Gateway Advisory LLC grew its position in United Rentals, Inc. (NYSE:URI) by 8.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 857 shares of the construction company’s stock after acquiring an additional 68 shares during the quarter. Gateway Advisory LLC’s holdings in United Rentals were worth $554,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Essex Financial Services Inc. lifted its stake in 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 last quarter. Nomura Holdings Inc. purchased a new position in United Rentals during the 4th quarter valued at $780,000. Forsta AP Fonden grew its position in United Rentals by 2.8% in the 1st quarter. Forsta AP Fonden now owns 14,600 shares of the construction company’s stock valued at $10,528,000 after acquiring an additional 400 shares during the last quarter. Tidal Investments LLC increased its stake in 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 stake in shares of United Rentals during the fourth quarter worth $779,000. Institutional investors own 96.26% of the company’s stock.

United Rentals Stock Up 2.0 %

Shares of United Rentals stock opened at $798.95 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.39. The company has a market cap of $53.20 billion, a P/E ratio of 21.64, a PEG ratio of 1.72 and a beta of 1.68. The firm’s 50 day moving average price is $724.10 and its 200-day moving average price is $688.13. United Rentals, Inc. has a 52-week low of $387.01 and a 52-week high of $803.48.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share (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 for the quarter, compared to analyst estimates of $3.77 billion. During the same period in the previous year, the company earned $9.88 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, sell-side analysts predict that United Rentals, Inc. will post 44.39 EPS for the current fiscal year.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were issued a dividend of $1.63 per share. The ex-dividend date was Wednesday, August 14th. This represents a $6.52 annualized dividend and a dividend yield of 0.82%. United Rentals’s dividend payout ratio (DPR) is currently 17.66%.

Insider Buying and Selling

In other United Rentals 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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

URI has been the topic of several recent analyst reports. Evercore ISI raised their price target on shares of United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Truist Financial raised 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. Citigroup assumed coverage on United Rentals in a report on Wednesday, June 26th. They issued a “buy” rating and a $745.00 price target for the company. Raymond James initiated coverage on United Rentals in a report on Friday, June 28th. They set an “outperform” rating and a $750.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their target price on United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a report on Monday. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, United Rentals presently has a consensus rating of “Hold” and an average target price of $687.46.

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.