United Rentals, Inc. (NYSE:URI) Position Boosted by Prudential PLC

Prudential PLC raised its position in shares of United Rentals, Inc. (NYSE:URI) by 6.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,836 shares of the construction company’s stock after purchasing an additional 1,351 shares during the quarter. Prudential PLC’s holdings in United Rentals were worth $13,475,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in URI. International Assets Investment Management LLC boosted its stake in United Rentals by 2.8% during the 4th quarter. International Assets Investment Management LLC now owns 1,819 shares of the construction company’s stock valued at $1,043,000 after purchasing an additional 49 shares in the last quarter. Precision Wealth Strategies LLC acquired a new stake in shares of United Rentals during the 4th quarter valued at $227,000. Gryphon Financial Partners LLC acquired a new stake in shares of United Rentals during the 4th quarter valued at $281,000. Principal Securities Inc. acquired a new stake in shares of United Rentals during the 4th quarter valued at $943,000. Finally, AGF Management Ltd. lifted its position in shares of United Rentals by 77.9% during the 4th quarter. AGF Management Ltd. now owns 3,368 shares of the construction company’s stock valued at $1,931,000 after acquiring an additional 1,475 shares during the last quarter. 96.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on URI. Citigroup assumed coverage on United Rentals in a research report on Wednesday, June 26th. They set a “buy” rating and a $745.00 price objective for the company. Truist Financial increased 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. The Goldman Sachs Group increased their target price on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a report on Friday, July 26th. JPMorgan Chase & Co. assumed coverage on United Rentals in a report on Friday, June 7th. They issued an “overweight” rating and a $780.00 target price for the company. Finally, Raymond James assumed 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. Three analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, United Rentals has a consensus rating of “Hold” and a consensus target price of $675.15.

Insider Activity at United Rentals

In related news, SVP Joli L. Gross sold 360 shares of the 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 sale, the senior vice president now directly owns 4,090 shares in the company, valued at approximately $2,822,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

United Rentals Stock Up 2.2 %

Shares of NYSE URI opened at $695.94 on Tuesday. United Rentals, Inc. has a 12-month low of $387.01 and a 12-month high of $789.80. The firm’s 50-day simple moving average is $704.82 and its 200 day simple moving average is $683.34. 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 $46.34 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 1.57 and a beta of 1.68.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, July 24th. The construction company reported $10.70 EPS for the quarter, beating 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 company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period last year, the firm earned $9.88 EPS. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, research analysts expect that United Rentals, Inc. will post 44.5 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were given a $1.63 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $6.52 annualized dividend and a dividend yield of 0.94%. United Rentals’s dividend payout ratio is currently 17.66%.

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.