United Rentals, Inc. (NYSE:URI) Position Increased by MGO One Seven LLC

MGO One Seven LLC lifted its holdings in United Rentals, Inc. (NYSE:URI) by 42.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 3,106 shares of the construction company’s stock after buying an additional 920 shares during the quarter. MGO One Seven LLC’s holdings in United Rentals were worth $2,009,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of URI. Essex Financial Services Inc. lifted its holdings in United Rentals by 31.9% in the second quarter. Essex Financial Services Inc. now owns 563 shares of the construction company’s stock worth $364,000 after acquiring an additional 136 shares during the last quarter. Nomura Holdings Inc. bought a new stake in shares of United Rentals in the 4th quarter worth approximately $780,000. Forsta AP Fonden boosted its position in United Rentals by 2.8% during the 1st quarter. Forsta AP Fonden now owns 14,600 shares of the construction company’s stock valued at $10,528,000 after purchasing an additional 400 shares during the period. Tidal Investments LLC grew its stake in United Rentals by 241.2% during the 1st quarter. Tidal Investments LLC now owns 4,859 shares of the construction company’s stock worth $3,504,000 after buying an additional 3,435 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in United Rentals in the fourth quarter worth $779,000. 96.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Truist Financial upped their price target on shares of United Rentals from $785.00 to $873.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Raymond James initiated coverage on shares of United Rentals in a research note on Friday, June 28th. They issued an “outperform” rating and a $750.00 price target on the stock. Evercore ISI boosted their price objective on United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. JPMorgan Chase & Co. began coverage on United Rentals in a research report on Friday, June 7th. They issued an “overweight” rating and a $780.00 target price on the stock. Finally, Citigroup assumed coverage on United Rentals in a research report on Wednesday, June 26th. They set a “buy” rating and a $745.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $675.15.

United Rentals Price Performance

Shares of United Rentals stock opened at $706.36 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39. The company’s 50-day moving average price is $707.03 and its two-hundred day moving average price is $683.82. United Rentals, Inc. has a 52 week low of $387.01 and a 52 week high of $789.80. The stock has a market cap of $46.72 billion, a PE ratio of 19.13, a price-to-earnings-growth ratio of 1.57 and a beta of 1.68.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.48 by $0.22. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the previous year, the business posted $9.88 earnings per share. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that United Rentals, Inc. will post 44.5 EPS for the current fiscal year.

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Wednesday, August 14th. United Rentals’s dividend payout ratio is 17.66%.

Insider Activity at United Rentals

In other United Rentals news, SVP Joli L. Gross sold 360 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $690.00, for a total transaction of $248,400.00. Following the sale, the senior vice president now owns 4,090 shares in the company, valued at approximately $2,822,100. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.53% of the stock is currently owned by corporate insiders.

About United Rentals

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.