Wellington Management Group LLP Has $38.24 Million Stock Position in United Rentals, Inc. $URI

Wellington Management Group LLP boosted its holdings in shares of United Rentals, Inc. (NYSE:URI) by 1,665.6% in the 2nd quarter, Holdings Channel reports. The firm owned 33,759 shares of the construction company’s stock after buying an additional 31,847 shares during the period. Wellington Management Group LLP’s holdings in United Rentals were worth $38,245,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of United Rentals during the 2nd quarter worth $29,000. MidFirst Bank bought a new position in United Rentals in the second quarter valued at about $31,000. Core Wealth Advisors LLC bought a new position in United Rentals in the fourth quarter valued at about $28,000. MV Capital Management Inc. acquired a new position in United Rentals during the fourth quarter worth about $28,000. Finally, Bell Investment Advisors Inc acquired a new position in United Rentals during the second quarter worth about $40,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

Analysts Set New Price Targets

URI has been the topic of a number of research analyst reports. Truist Financial raised their price target on shares of United Rentals from $1,421.00 to $1,466.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Argus reiterated a “buy” rating and set a $1,250.00 price objective on shares of United Rentals in a research report on Tuesday, August 4th. KeyCorp reissued an “overweight” rating and issued a $1,350.00 price objective on shares of United Rentals in a research note on Friday, July 24th. Bank of America raised their target price on shares of United Rentals from $1,195.00 to $1,300.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Finally, Citigroup boosted their target price on shares of United Rentals from $1,270.00 to $1,330.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,246.19.

Insider Transactions at United Rentals

In other news, EVP William Grace sold 1,500 shares of the firm’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the completion of the transaction, the executive vice president owned 6,062 shares of the company’s stock, valued at approximately $6,869,155.30. This trade represents a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.47% of the company’s stock.

United Rentals Stock Performance

Shares of URI stock opened at $1,009.78 on Friday. The business’s 50-day moving average price is $1,087.43 and its 200-day moving average price is $961.69. United Rentals, Inc. has a 12 month low of $701.59 and a 12 month high of $1,179.18. The firm has a market capitalization of $62.85 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 1.46 and a beta of 1.79. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI) last released its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, topping the consensus estimate of $11.53 by $1.23. The company had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.22 billion. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the business posted $10.47 earnings per share. Equities research analysts forecast that United Rentals, Inc. will post 48.55 EPS for the current year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were given a $1.97 dividend. This represents a $7.88 annualized dividend and a yield of 0.8%. The ex-dividend date was Wednesday, August 12th. United Rentals’s dividend payout ratio is 18.92%.

United Rentals Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.