Arrowstreet Capital Limited Partnership Purchases 103,039 Shares of United Rentals, Inc. $URI

Arrowstreet Capital Limited Partnership increased its holdings in shares of United Rentals, Inc. (NYSE:URI) by 81.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 230,238 shares of the construction company’s stock after acquiring an additional 103,039 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in United Rentals were worth $167,742,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Capital World Investors raised its stake in shares of United Rentals by 1.1% in 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 acquiring an additional 30,263 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of United Rentals by 2.2% during the fourth quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company’s stock worth $1,087,711,000 after purchasing an additional 28,895 shares during the last quarter. Norges Bank acquired a new stake in shares of United Rentals in the fourth quarter valued at $978,017,000. Boston Partners increased its stake in shares of United Rentals by 4.0% in the fourth quarter. Boston Partners now owns 774,347 shares of the construction company’s stock valued at $631,459,000 after buying an additional 29,675 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of United Rentals by 0.9% in the third quarter. Invesco Ltd. now owns 649,608 shares of the construction company’s stock valued at $620,155,000 after buying an additional 5,497 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. UBS Group reiterated a “buy” rating and set a $1,350.00 price target on shares of United Rentals in a research report on Thursday. Wells Fargo & Company boosted their target price on shares of United Rentals from $1,245.00 to $1,355.00 and gave the stock an “overweight” rating in a research note on Friday. BNP Paribas Exane raised shares of United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price target on the stock in a research note on Monday, June 29th. Wall Street Zen raised shares of United Rentals from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Raymond James Financial restated an “outperform” rating and issued a $1,275.00 price objective on shares of United Rentals in a research report on Wednesday, June 10th. Fourteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,226.50.

Key United Rentals News

Here are the key news stories impacting United Rentals this week:

• Positive Sentiment: JPMorgan raised its price target on United Rentals to $1,235 and kept an overweight rating, signaling confidence in continued upside. JPMorgan price target increase
• Positive Sentiment: Truist boosted its target to $1,466 and maintained a buy rating, reflecting a more optimistic view of URI’s earnings power and demand trends. Truist price target increase
• Positive Sentiment: Citigroup raised its target to $1,330 with a buy rating after the company’s strong Q2 results and improved guidance. Citigroup price target increase
• Positive Sentiment: Bank of America increased its target to $1,300 and reiterated a buy rating, adding to the positive analyst momentum around the stock. Bank of America price target increase
• Positive Sentiment: United Rentals reported Q2 earnings of $12.76 per share and revenue of $4.41 billion, both ahead of expectations, and raised full-year guidance on stronger rental growth and demand. Q2 earnings beat and guidance raise
• Neutral Sentiment: The company also declared a quarterly dividend of $1.97 per share, which is a modest shareholder-return update but not likely the main driver of today’s trading. Dividend announcement

United Rentals Price Performance

Shares of URI opened at $1,140.19 on Friday. The stock has a 50 day simple moving average of $1,052.87 and a 200 day simple moving average of $919.10. United Rentals, Inc. has a 52-week low of $701.59 and a 52-week high of $1,177.67. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.74 and a current ratio of 0.76. The firm has a market capitalization of $71.43 billion, a PE ratio of 27.38, a P/E/G ratio of 1.82 and a beta of 1.79.

United Rentals (NYSE:URI) last announced its earnings results on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, topping the consensus estimate of $11.53 by $1.23. The firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period last year, the company posted $10.47 EPS. Sell-side analysts predict that United Rentals, Inc. will post 46.85 EPS for the current fiscal year.

United Rentals Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Craig Adam Pintoff sold 2,466 shares of the business’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $963.00, for a total value of $2,374,758.00. Following the sale, the executive vice president directly owned 14,774 shares in the company, valued at $14,227,362. The trade was a 14.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Joli L. Gross sold 306 shares of the company’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $954.99, for a total value of $292,226.94. Following the transaction, the senior vice president directly owned 5,738 shares of the company’s stock, valued at $5,479,732.62. This represents a 5.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.47% of the stock is currently owned by corporate insiders.

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.