Commonwealth Financial Services LLC Acquires Shares of 317 United Rentals, Inc. (NYSE:URI)

Commonwealth Financial Services LLC bought a new position in United Rentals, Inc. (NYSE:URI) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 317 shares of the construction company’s stock, valued at approximately $202,000.

A number of other hedge funds have also modified their holdings of URI. Duncker Streett & Co. Inc. boosted its position in United Rentals by 0.3% in the second quarter. Duncker Streett & Co. Inc. now owns 5,352 shares of the construction company’s stock valued at $3,461,000 after buying an additional 14 shares in the last quarter. Ameritas Advisory Services LLC boosted its holdings in shares of United Rentals by 3.8% in the 2nd quarter. Ameritas Advisory Services LLC now owns 378 shares of the construction company’s stock worth $244,000 after acquiring an additional 14 shares in the last quarter. Concurrent Investment Advisors LLC grew its position in United Rentals by 3.7% during the 1st quarter. Concurrent Investment Advisors LLC now owns 418 shares of the construction company’s stock worth $301,000 after acquiring an additional 15 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in United Rentals by 4.7% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 357 shares of the construction company’s stock valued at $231,000 after purchasing an additional 16 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC raised its position in United Rentals by 0.4% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 3,841 shares of the construction company’s stock valued at $2,484,000 after purchasing an additional 17 shares during the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Joli L. Gross sold 360 shares of the company’s stock in a transaction 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 sale, the senior vice president now owns 4,090 shares in the company, valued at approximately $2,822,100. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.53% of the company’s stock.

United Rentals Stock Up 2.0 %

Shares of United Rentals stock opened at $798.95 on Tuesday. The business has a fifty day simple moving average of $724.10 and a 200 day simple moving average of $688.13. The stock has a market cap of $53.20 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 1.72 and a beta of 1.68. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.39. United Rentals, Inc. has a 12 month low of $387.01 and a 12 month high of $803.48.

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. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates 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 for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company earned $9.88 EPS. Research analysts predict that United Rentals, Inc. will post 44.39 EPS for the current year.

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend was Wednesday, August 14th. United Rentals’s payout ratio is presently 17.66%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on URI shares. Raymond James assumed coverage on United Rentals in a research note on Friday, June 28th. They issued an “outperform” rating and a $750.00 target price for the company. Truist Financial raised their price objective 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 set a “buy” rating and a $745.00 target price on the stock. JPMorgan Chase & Co. raised their price target on shares of United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a report on Monday. Finally, Evercore ISI boosted 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 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 company currently has a consensus 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.