Ieq Capital LLC Takes $6.99 Million Position in United Rentals, Inc. $URI

Ieq Capital LLC bought a new position in United Rentals, Inc. (NYSE:URI) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,166 shares of the construction company’s stock, valued at approximately $6,985,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SFE Investment Counsel acquired a new stake in United Rentals during the second quarter valued at $12,765,000. Eventide Asset Management LLC raised its position in shares of United Rentals by 19.6% in the fourth quarter. Eventide Asset Management LLC now owns 95,940 shares of the construction company’s stock worth $77,666,000 after acquiring an additional 15,696 shares during the period. Sequoia Financial Advisors LLC boosted its stake in shares of United Rentals by 52.0% during the 4th quarter. Sequoia Financial Advisors LLC now owns 3,241 shares of the construction company’s stock worth $2,623,000 after acquiring an additional 1,109 shares in the last quarter. Bridges Investment Management Inc. boosted its stake in shares of United Rentals by 2.0% during the 4th quarter. Bridges Investment Management Inc. now owns 69,583 shares of the construction company’s stock worth $56,315,000 after acquiring an additional 1,354 shares in the last quarter. Finally, WINTON GROUP Ltd grew its position in shares of United Rentals by 995.1% during the 4th quarter. WINTON GROUP Ltd now owns 13,612 shares of the construction company’s stock valued at $11,016,000 after acquiring an additional 12,369 shares during the period. 96.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at United Rentals

In other news, EVP William E. Grace sold 1,500 shares of United Rentals stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the sale, the executive vice president directly owned 6,062 shares of the company’s stock, valued at $6,869,155.30. The trade was a 19.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.47% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

URI has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price target 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. Argus reiterated a “buy” rating and set a $1,250.00 price target on shares of United Rentals in a research report on Tuesday, August 4th. Wall Street Zen raised United Rentals from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. KeyCorp restated an “overweight” rating and issued a $1,350.00 price objective on shares of United Rentals in a research report on Friday, July 24th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $1,275.00 target price on shares of United Rentals in a research note on Wednesday, June 10th. One research 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,246.19.

United Rentals Stock Down 0.3%

URI opened at $1,095.21 on Monday. United Rentals, Inc. has a twelve month low of $701.59 and a twelve month high of $1,179.18. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38. The company has a 50-day moving average price of $1,099.22 and a 200 day moving average price of $950.71. The company has a market cap of $68.17 billion, a PE ratio of 26.30, a price-to-earnings-growth ratio of 1.42 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.53 by $1.23. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The company had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.22 billion. During the same period in the previous year, the firm posted $10.47 EPS. United Rentals’s revenue was up 11.8% compared to the same quarter last year. Sell-side analysts expect that United Rentals, Inc. will post 48.55 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be given a $1.97 dividend. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Wednesday, August 12th. United Rentals’s dividend payout ratio (DPR) is 18.92%.

About United Rentals

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.