Ariadne Wealth Management LP Makes New $6.84 Million Investment in United Rentals, Inc. (NYSE:URI)

Ariadne Wealth Management LP purchased a new position in United Rentals, Inc. (NYSE:URI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,576 shares of the construction company’s stock, valued at approximately $6,840,000. United Rentals comprises about 3.7% of Ariadne Wealth Management LP’s investment portfolio, making the stock its 3rd largest position.

Several other hedge funds have also added to or reduced their stakes in the business. Gryphon Financial Partners LLC bought a new position in shares of United Rentals during the fourth quarter valued at about $281,000. Orion Portfolio Solutions LLC raised its stake in shares of United Rentals by 13.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 2,113 shares of the construction company’s stock valued at $1,164,000 after acquiring an additional 256 shares during the last quarter. Bank of Nova Scotia raised its stake in shares of United Rentals by 40.0% during the fourth quarter. Bank of Nova Scotia now owns 7,582 shares of the construction company’s stock valued at $4,348,000 after acquiring an additional 2,167 shares during the last quarter. California State Teachers Retirement System increased its position in shares of United Rentals by 0.4% during the fourth quarter. California State Teachers Retirement System now owns 110,947 shares of the construction company’s stock valued at $63,619,000 after buying an additional 415 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of United Rentals during the fourth quarter valued at about $779,000. 96.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on URI shares. Evercore ISI boosted their price target 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. Raymond James started coverage on shares of United Rentals in a research report on Friday, June 28th. They set an “outperform” rating and a $750.00 price target on the stock. 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. JPMorgan Chase & Co. upped their price objective on shares of United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Finally, Truist Financial upped their price objective 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. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $687.46.

United Rentals Stock Down 0.5 %

Shares of United Rentals stock opened at $809.73 on Tuesday. United Rentals, Inc. has a twelve month low of $387.01 and a twelve month high of $826.24. 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’s 50 day moving average is $731.69 and its 200 day moving average is $692.88. The company has a market cap of $53.56 billion, a price-to-earnings ratio of 21.93, a price-to-earnings-growth ratio of 1.89 and a beta of 1.68.

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

United Rentals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were paid a $1.63 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.81%. United Rentals’s dividend payout ratio (DPR) is currently 17.66%.

Insider Transactions at United Rentals

In other news, SVP Joli L. Gross sold 360 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $690.00, for a total value of $248,400.00. Following the transaction, the senior vice president now directly owns 4,090 shares in the company, valued at approximately $2,822,100. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.53% of the company’s stock.

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.