First Trust Advisors LP Buys 39,559 Shares of United Rentals, Inc. $URI

First Trust Advisors LP raised its stake in United Rentals, Inc. (NYSE:URI) by 134.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 69,078 shares of the construction company’s stock after buying an additional 39,559 shares during the quarter. First Trust Advisors LP’s holdings in United Rentals were worth $50,327,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Core Wealth Advisors LLC purchased a new stake in United Rentals during the fourth quarter valued at approximately $28,000. MV Capital Management Inc. acquired a new stake in United Rentals in the fourth quarter valued at approximately $28,000. Laurel Wealth Advisors LLC purchased a new position in United Rentals in the fourth quarter worth $32,000. Fortitude Family Office LLC grew its holdings in United Rentals by 121.1% in the fourth quarter. Fortitude Family Office LLC now owns 42 shares of the construction company’s stock worth $34,000 after purchasing an additional 23 shares during the last quarter. Finally, Hilton Head Capital Partners LLC acquired a new position in shares of United Rentals during the fourth quarter worth $34,000. 96.26% of the stock is currently owned by institutional investors.

United Rentals Stock Performance

Shares of URI stock opened at $1,140.19 on Monday. The firm has a market capitalization of $70.97 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 1.51 and a beta of 1.79. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.70. The business has a fifty day moving average of $1,052.87 and a 200 day moving average of $919.31. United Rentals, Inc. has a 1 year low of $701.59 and a 1 year high of $1,177.67.

United Rentals (NYSE:URI) last issued its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $4.22 billion. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The firm’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $10.47 EPS. As a group, research analysts expect that United Rentals, Inc. will post 47.32 earnings per share for the current year.

United Rentals Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wells Fargo & Company increased 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. UBS Group restated a “buy” rating and set a $1,350.00 target price on shares of United Rentals in a research note on Thursday. Bank of America upped their target price on United Rentals from $1,195.00 to $1,300.00 and gave the company a “buy” rating in a research report on Thursday. Weiss Ratings upgraded United Rentals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Finally, Robert W. Baird set a $1,300.00 price target on United Rentals in a report on Friday. Fifteen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,226.50.

Key Stories Impacting United Rentals

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 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.