Invst LLC Raises Holdings in United Rentals, Inc. (NYSE:URI)

Invst LLC increased its position in shares of United Rentals, Inc. (NYSE:URI) by 31.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 408 shares of the construction company’s stock after purchasing an additional 97 shares during the quarter. Invst LLC’s holdings in United Rentals were worth $261,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its position in shares of United Rentals by 5.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,114 shares of the construction company’s stock worth $7,189,000 after purchasing an additional 541 shares in the last quarter. Creative Planning grew its holdings in United Rentals by 0.8% in the 2nd quarter. Creative Planning now owns 12,087 shares of the construction company’s stock valued at $7,817,000 after buying an additional 94 shares in the last quarter. Copperwynd Financial LLC grew its holdings in United Rentals by 3.8% in the 2nd quarter. Copperwynd Financial LLC now owns 1,249 shares of the construction company’s stock valued at $808,000 after buying an additional 46 shares in the last quarter. Aviso Wealth Management grew its holdings in United Rentals by 1.8% in the 2nd quarter. Aviso Wealth Management now owns 1,334 shares of the construction company’s stock valued at $863,000 after buying an additional 23 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in United Rentals by 4.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 637,188 shares of the construction company’s stock valued at $412,089,000 after buying an additional 27,708 shares in the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

United Rentals Price Performance

URI opened at $809.73 on Tuesday. The stock’s 50-day moving average price is $731.69 and its 200 day moving average price is $692.88. United Rentals, Inc. has a 12-month low of $387.01 and a 12-month high of $826.24. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39. The firm has a market cap of $53.56 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 1.89 and a beta of 1.68.

United Rentals (NYSE:URI) last posted its 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 return on equity of 35.87% and a net margin of 17.35%. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the company earned $9.88 EPS. United Rentals’s revenue was up 6.2% on a year-over-year basis. As a group, sell-side analysts expect that United Rentals, Inc. will post 44.39 earnings per share for the current year.

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend was Wednesday, August 14th. United Rentals’s payout ratio is 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 dated Friday, August 2nd. The stock was sold at an average price of $690.00, for a total transaction of $248,400.00. Following the sale, 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 SEC, which is available through the SEC website. 0.53% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

URI has been the subject of several analyst reports. Evercore ISI upped their target price on United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a report on Monday, August 19th. JPMorgan Chase & Co. upped their target price on United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Truist Financial upped their target price on United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a report on Friday, July 26th. Raymond James initiated coverage on United Rentals in a report on Friday, June 28th. They issued an “outperform” rating and a $750.00 target price for the company. Finally, Citigroup began coverage on United Rentals in a report on Wednesday, June 26th. They issued a “buy” rating and a $745.00 target price for the company. Three investment 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $687.46.

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.