United Rentals, Inc. $URI Shares Purchased by Western Wealth Management LLC

Western Wealth Management LLC boosted its position in United Rentals, Inc. (NYSE:URI) by 56.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,411 shares of the construction company’s stock after acquiring an additional 508 shares during the period. Western Wealth Management LLC’s holdings in United Rentals were worth $1,028,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in United Rentals during the fourth quarter worth about $978,017,000. Corient Private Wealth LLC boosted its stake in United Rentals by 1,667.4% in the 4th quarter. Corient Private Wealth LLC now owns 343,965 shares of the construction company’s stock worth $278,378,000 after buying an additional 324,503 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in United Rentals in the 4th quarter valued at about $102,945,000. Victory Capital Management Inc. increased its stake in shares of United Rentals by 103.7% during the 4th quarter. Victory Capital Management Inc. now owns 231,018 shares of the construction company’s stock valued at $186,967,000 after acquiring an additional 117,584 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of United Rentals by 14.7% during the 1st quarter. Bank of America Corp DE now owns 806,380 shares of the construction company’s stock valued at $587,496,000 after acquiring an additional 103,371 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 equities research analysts recently issued reports on the stock. Wells Fargo & Company raised 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 report on Friday, July 24th. Truist Financial increased their price target on shares of United Rentals from $1,421.00 to $1,466.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Robert W. Baird set a $1,300.00 price target on shares of United Rentals in a report on Friday, July 24th. Royal Bank Of Canada boosted their price objective on shares of United Rentals from $1,041.00 to $1,119.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Finally, Barclays boosted their price target on United Rentals from $715.00 to $950.00 and gave the company an “underweight” rating in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,246.19.

United Rentals Trading Down 1.1%

URI opened at $1,130.92 on Thursday. The firm’s 50 day moving average is $1,092.50 and its 200-day moving average is $937.46. United Rentals, Inc. has a 52-week low of $701.59 and a 52-week 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 firm has a market capitalization of $70.39 billion, a P/E ratio of 27.16, a P/E/G ratio of 1.47 and a beta of 1.80.

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

United Rentals Dividend Announcement

The firm 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 dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, August 12th. United Rentals’s payout ratio is presently 18.92%.

Insider Activity at United Rentals

In related news, EVP William E. Grace sold 1,500 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president owned 6,062 shares in the company, valued at approximately $6,869,155.30. The trade was a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.47% of the company’s stock.

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.