Wealth Effects LLC Takes $3.33 Million Position in United Rentals, Inc. $URI

Wealth Effects LLC acquired a new position in United Rentals, Inc. (NYSE:URI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,944 shares of the construction company’s stock, valued at approximately $3,335,000. United Rentals accounts for approximately 0.9% of Wealth Effects LLC’s investment portfolio, making the stock its 25th largest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Capital World Investors increased its position in United Rentals by 1.1% during the fourth quarter. Capital World Investors now owns 2,708,877 shares of the construction company’s stock worth $2,192,357,000 after acquiring an additional 30,263 shares during the period. Franklin Resources Inc. boosted its holdings in United Rentals by 2.2% in the 4th quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company’s stock valued at $1,087,711,000 after purchasing an additional 28,895 shares during the period. Norges Bank acquired a new stake in United Rentals in the 4th quarter worth $978,017,000. Bank of America Corp DE increased its holdings in shares of United Rentals by 14.7% during the 1st quarter. Bank of America Corp DE now owns 806,380 shares of the construction company’s stock worth $587,496,000 after purchasing an additional 103,371 shares during the period. Finally, Boston Partners increased its holdings in shares of United Rentals by 4.0% during the 4th quarter. Boston Partners now owns 774,347 shares of the construction company’s stock worth $631,459,000 after purchasing an additional 29,675 shares during the period. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insider Transactions at United Rentals

In other United Rentals news, EVP William E. Grace sold 1,500 shares of the stock in a transaction dated 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 sale, the executive vice president owned 6,062 shares of the company’s stock, valued at $6,869,155.30. This represents a 19.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.47% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on URI. Truist Financial lifted their target price on United Rentals from $1,421.00 to $1,466.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Raymond James Financial reissued an “outperform” rating and set a $1,275.00 price objective on shares of United Rentals in a report on Wednesday, June 10th. Wells Fargo & Company upped their target price on United Rentals from $1,245.00 to $1,355.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Morgan Stanley set a $1,335.00 price target on shares of United Rentals and gave the stock an “overweight” rating in a research note on Friday, July 24th. Finally, KeyCorp restated an “overweight” rating and issued a $1,350.00 price objective on shares of United Rentals in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,246.19.

United Rentals Trading Up 0.1%

URI stock opened at $1,155.25 on Monday. The business has a fifty day moving average price of $1,095.03 and a 200 day moving average price of $940.62. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.70. United Rentals, Inc. has a fifty-two week low of $701.59 and a fifty-two week high of $1,179.18. The stock has a market capitalization of $71.90 billion, a price-to-earnings ratio of 27.74, a P/E/G ratio of 1.49 and a beta of 1.80.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, topping analysts’ consensus estimates of $11.53 by $1.23. The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The business’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $10.47 earnings per share. Analysts expect that United Rentals, Inc. will post 48.55 EPS for the current fiscal year.

United Rentals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be given a dividend of $1.97 per share. The ex-dividend date is Wednesday, August 12th. This represents a $7.88 annualized dividend and a yield of 0.7%. 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.