Traynor Capital Management Inc. Buys 592 Shares of United Rentals, Inc. $URI

Traynor Capital Management Inc. increased its position in shares of United Rentals, Inc. (NYSE:URI) by 4.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,653 shares of the construction company’s stock after purchasing an additional 592 shares during the period. Traynor Capital Management Inc.’s holdings in United Rentals were worth $12,663,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in United Rentals during the 2nd quarter valued at $5,816,326,000. State Street Corp increased its position in shares of United Rentals by 1.1% during the 2nd quarter. State Street Corp now owns 2,993,837 shares of the construction company’s stock valued at $3,391,688,000 after purchasing an additional 32,238 shares during the period. Bank of America Corp DE acquired a new position in shares of United Rentals during the 2nd quarter valued at $944,196,000. The Manufacturers Life Insurance Company bought a new stake in shares of United Rentals in the 2nd quarter worth $716,129,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of United Rentals by 15.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 539,121 shares of the construction company’s stock worth $610,765,000 after buying an additional 74,008 shares in the last quarter. Institutional investors own 96.26% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on URI shares. Barclays upped their price objective on United Rentals from $715.00 to $950.00 and gave the company an “underweight” rating in a report on Friday, July 24th. Zacks Research raised United Rentals from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 22nd. Citigroup reiterated a “buy” rating on shares of United Rentals in a research report on Monday, September 14th. Bank of America reissued a “buy” rating on shares of United Rentals in a report on Thursday, October 22nd. Finally, Wells Fargo & Company raised their price objective on shares of United Rentals from $1,245.00 to $1,355.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,288.19.

United Rentals Trading Down 0.2%

Shares of NYSE URI opened at $1,167.43 on Monday. United Rentals, Inc. has a 12 month low of $701.59 and a 12 month high of $1,202.12. The company has a market cap of $72.29 billion, a price-to-earnings ratio of 25.66, a P/E/G ratio of 1.65 and a beta of 1.82. The company has a quick ratio of 0.73, a current ratio of 0.80 and a debt-to-equity ratio of 1.35. The business has a fifty day simple moving average of $1,049.13 and a 200-day simple moving average of $970.70.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, October 21st. The construction company reported $15.55 earnings per share for the quarter, beating analysts’ consensus estimates of $13.97 by $1.58. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.71 billion. United Rentals had a return on equity of 33.47% and a net margin of 16.33%. United Rentals’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter last year, the company posted $11.70 EPS. Sell-side analysts predict that United Rentals, Inc. will post 51.17 EPS for the current year.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Wednesday, November 11th will be paid a dividend of $1.97 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. United Rentals’s dividend payout ratio is currently 17.32%.

United Rentals Company Profile

United Rentals, Inc is an equipment rental company serving construction, industrial, infrastructure, utilities, government and other commercial customers. The company provides access to equipment and related services through a network of rental locations, helping customers manage projects without purchasing and maintaining all of the equipment they need.

Its rental fleet includes aerial work platforms, earthmoving equipment, material-handling equipment, general construction tools, trucks and trailers, and light-duty equipment.