Flputnam Investment Management Co. Increases Stock Position in United Rentals, Inc. $URI

Flputnam Investment Management Co. raised its stake in shares of United Rentals, Inc. (NYSE:URI) by 119.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,030 shares of the construction company’s stock after purchasing an additional 3,822 shares during the quarter. Flputnam Investment Management Co.’s holdings in United Rentals were worth $7,964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Core Wealth Advisors LLC purchased a new stake in shares of United Rentals during the 4th quarter valued at $28,000. MV Capital Management Inc. bought a new stake in shares of United Rentals during the 4th quarter worth $28,000. Clal Insurance Enterprises Holdings Ltd purchased a new position in United Rentals in the second quarter worth $29,000. MidFirst Bank purchased a new position in United Rentals in the second quarter worth $31,000. Finally, Laurel Wealth Advisors LLC bought a new position in United Rentals in the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on URI. Evercore reaffirmed an “outperform” rating and set a $1,101.00 price target on shares of United Rentals in a research note on Monday, May 11th. Citigroup increased their price objective on United Rentals from $1,270.00 to $1,330.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Wells Fargo & Company raised their price objective on United Rentals from $1,245.00 to $1,355.00 and gave the company an “overweight” rating in a report on Friday, July 24th. Zacks Research upgraded United Rentals from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Finally, KeyCorp restated an “overweight” rating and issued a $1,350.00 target price on shares of United Rentals in a research report on Friday, July 24th. One equities 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,246.19.

Insiders Place Their Bets

In related news, EVP William E. Grace sold 1,500 shares of the firm’s 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 transaction of $1,699,725.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is owned by corporate insiders.

United Rentals Stock Performance

United Rentals stock opened at $1,030.64 on Friday. 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 market capitalization of $64.15 billion, a PE ratio of 24.75, a P/E/G ratio of 1.33 and a beta of 1.80. The firm has a fifty day simple moving average of $1,097.31 and a two-hundred day simple moving average of $957.16. United Rentals, Inc. has a twelve month low of $701.59 and a twelve month high of $1,179.18.

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

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were issued a dividend of $1.97 per share. The ex-dividend date was Wednesday, August 12th. This represents a $7.88 annualized dividend and a yield of 0.8%. United Rentals’s dividend payout ratio is currently 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.