Meeder Asset Management Inc. Takes Position in United Rentals, Inc. $URI

Meeder Asset Management Inc. purchased a new position in shares of United Rentals, Inc. (NYSE:URI) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,191 shares of the construction company’s stock, valued at approximately $4,748,000.

Other large investors also recently added to or reduced their stakes in the company. Woodline Partners LP raised its stake in United Rentals by 40.0% in the 1st quarter. Woodline Partners LP now owns 5,518 shares of the construction company’s stock valued at $3,458,000 after acquiring an additional 1,577 shares during the period. Sei Investments Co. increased its stake in shares of United Rentals by 24.7% in the second quarter. Sei Investments Co. now owns 27,136 shares of the construction company’s stock worth $20,444,000 after purchasing an additional 5,375 shares in the last quarter. Treasurer of the State of North Carolina raised its position in shares of United Rentals by 43.6% in the second quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company’s stock valued at $42,233,000 after purchasing an additional 17,030 shares during the period. HUB Investment Partners LLC lifted its stake in shares of United Rentals by 11.3% during the 2nd quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company’s stock valued at $1,661,000 after buying an additional 223 shares in the last quarter. Finally, Diversify Advisory Services LLC boosted its holdings in United Rentals by 338.7% in the 2nd quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company’s stock worth $1,246,000 after buying an additional 1,277 shares during the period. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Stock Performance

NYSE URI opened at $1,166.11 on Tuesday. United Rentals, Inc. has a 1 year low of $701.59 and a 1 year high of $1,179.18. 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 stock has a market capitalization of $72.58 billion, a PE ratio of 28.00, a P/E/G ratio of 1.49 and a beta of 1.80. The company’s 50 day simple moving average is $1,096.63 and its two-hundred day simple moving average is $942.44.

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, topping the consensus estimate of $11.53 by $1.23. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The firm had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter in the prior year, the firm posted $10.47 earnings per share. The business’s quarterly revenue was up 11.8% on a year-over-year basis. Analysts predict that United Rentals, Inc. will post 48.55 earnings per share for the current fiscal year.

United Rentals Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on URI shares. JPMorgan Chase & Co. lifted their price objective on shares of United Rentals from $1,100.00 to $1,235.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Argus restated a “buy” rating and set a $1,250.00 target price on shares of United Rentals in a research report on Tuesday, August 4th. Evercore reaffirmed an “outperform” rating and issued a $1,101.00 price target on shares of United Rentals in a report on Monday, May 11th. KeyCorp reiterated an “overweight” rating and set a $1,350.00 price objective on shares of United Rentals in a research note on Friday, July 24th. Finally, Royal Bank Of Canada increased their price objective on United Rentals from $1,041.00 to $1,119.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,246.19.

Insiders Place Their Bets

In other United Rentals news, EVP William E. Grace sold 1,500 shares of the firm’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 sale, the executive vice president owned 6,062 shares of the company’s stock, 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 SEC, which is available at this link. 0.47% of the stock is owned by corporate insiders.

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.