Perigon Wealth Management LLC Takes $966,000 Position in United Rentals, Inc. $URI

Perigon Wealth Management LLC bought a new position in shares of United Rentals, Inc. (NYSE:URI) in the second quarter, Holdings Channel reports. The firm bought 852 shares of the construction company’s stock, valued at approximately $966,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital World Investors lifted 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 valued at $2,192,357,000 after buying an additional 30,263 shares in the last quarter. Franklin Resources Inc. increased its position in shares of United Rentals by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company’s stock worth $1,087,711,000 after acquiring an additional 28,895 shares in the last quarter. Norges Bank acquired a new stake in shares of United Rentals in the fourth quarter worth $978,017,000. Bank of America Corp DE increased its position in shares of United Rentals by 14.7% in the first quarter. Bank of America Corp DE now owns 806,380 shares of the construction company’s stock worth $587,496,000 after acquiring an additional 103,371 shares in the last quarter. Finally, Boston Partners raised its stake in shares of United Rentals by 4.0% in the 4th quarter. Boston Partners now owns 774,347 shares of the construction company’s stock valued at $631,459,000 after acquiring an additional 29,675 shares during the period. Institutional investors and hedge funds own 96.26% of the company’s stock.

Analyst Ratings Changes

URI has been the topic of several recent research reports. Citigroup lifted their target price on shares of United Rentals from $1,270.00 to $1,330.00 and gave the company a “buy” rating in a report on Friday, July 24th. Wall Street Zen raised United Rentals from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Argus restated a “buy” rating and set a $1,250.00 price objective on shares of United Rentals in a research note on Tuesday, August 4th. Zacks Research upgraded United Rentals from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Finally, Truist Financial upped 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. One research 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’s stock. According to data from MarketBeat, United Rentals currently has an average rating of “Moderate Buy” and a consensus price target of $1,246.19.

Insider Buying and Selling at United Rentals

In other news, EVP William E. Grace sold 1,500 shares of the firm’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the completion of the sale, the executive vice president directly owned 6,062 shares in the company, valued at $6,869,155.30. This trade represents a 19.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.47% of the stock is owned by corporate insiders.

United Rentals Trading Down 4.1%

NYSE URI opened at $1,117.24 on Wednesday. The company’s fifty day simple moving average is $1,097.10 and its 200-day simple moving average is $943.95. United Rentals, Inc. has a 52 week low of $701.59 and a 52 week high of $1,179.18. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38. The stock has a market cap of $69.54 billion, a P/E ratio of 26.83, a PEG ratio of 1.49 and a beta of 1.80.

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, beating analysts’ consensus estimates of $11.53 by $1.23. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The business had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same period last year, the business earned $10.47 EPS. The business’s revenue was up 11.8% on a year-over-year basis. Equities research analysts predict that United Rentals, Inc. will post 48.55 EPS for the current fiscal year.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be given a $1.97 dividend. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, August 12th. United Rentals’s dividend payout ratio is presently 18.92%.

United Rentals Company 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.