Acadian Asset Management LLC Acquires Shares of 1,784 United Rentals, Inc. (NYSE:URI)

Acadian Asset Management LLC acquired a new stake in shares of United Rentals, Inc. (NYSE:URI) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,784 shares of the construction company’s stock, valued at approximately $1,153,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in URI. First Financial Corp IN purchased a new position in United Rentals during the first quarter valued at $25,000. Crewe Advisors LLC acquired a new stake in shares of United Rentals in the first quarter valued at about $27,000. RFP Financial Group LLC raised its position in shares of United Rentals by 115.8% in the second quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock valued at $27,000 after buying an additional 22 shares during the last quarter. Rise Advisors LLC acquired a new stake in shares of United Rentals in the first quarter valued at about $28,000. Finally, Riverview Trust Co acquired a new stake in shares of United Rentals in the first quarter valued at about $31,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Price Performance

Shares of URI opened at $729.47 on Monday. United Rentals, Inc. has a 1-year low of $387.01 and a 1-year high of $789.80. The stock has a market cap of $48.25 billion, a PE ratio of 19.76, a P/E/G ratio of 1.65 and a beta of 1.68. The firm has a 50-day simple moving average of $710.11 and a two-hundred day simple moving average of $684.47. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.81 and a quick ratio of 0.76.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period last year, the business earned $9.88 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, analysts forecast that United Rentals, Inc. will post 44.39 EPS for the current year.

United Rentals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Wednesday, August 14th. United Rentals’s payout ratio is 17.66%.

Insider Activity

In other news, SVP Joli L. Gross sold 360 shares of the firm’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 value 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on URI shares. Truist Financial increased their target price 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. Citigroup started coverage on shares of United Rentals in a research report on Wednesday, June 26th. They issued a “buy” rating and a $745.00 target price for the company. The Goldman Sachs Group increased their target price 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. initiated coverage on shares of United Rentals in a research report on Friday, June 7th. They issued an “overweight” rating and a $780.00 target price for the company. Finally, Evercore ISI raised their price objective on shares of United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.