Global Retirement Partners LLC Takes Position in United Rentals, Inc. $URI

Global Retirement Partners LLC purchased a new stake in shares of United Rentals, Inc. (NYSE:URI) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 544 shares of the construction company’s stock, valued at approximately $616,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of United Rentals during the 4th quarter worth about $978,017,000. Bank of New York Mellon Corp purchased a new stake in United Rentals in the 2nd quarter worth about $412,860,000. Corient Private Wealth LLC raised its position 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 purchasing an additional 324,503 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in United Rentals in the fourth quarter worth about $102,945,000. Finally, Victory Capital Management Inc. boosted its position in shares of United Rentals by 103.7% during the fourth quarter. Victory Capital Management Inc. now owns 231,018 shares of the construction company’s stock valued at $186,967,000 after buying an additional 117,584 shares during the period. 96.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP William E. Grace sold 1,500 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the completion of the transaction, the executive vice president directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.47% of the stock is currently owned by company insiders.

United Rentals Stock Performance

Shares of URI stock opened at $1,117.24 on Wednesday. The firm has a market cap of $69.54 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 1.49 and a beta of 1.80. 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 company’s 50 day moving average is $1,097.10 and its 200 day moving average is $943.95.

United Rentals (NYSE:URI) last released its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share (EPS) 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 business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same period in the previous year, the company earned $10.47 earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, sell-side analysts anticipate that United Rentals, Inc. will post 48.55 EPS for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be paid a dividend of $1.97 per share. The ex-dividend date 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 presently 18.92%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on URI shares. Argus reiterated a “buy” rating and issued a $1,250.00 price target on shares of United Rentals in a report on Tuesday, August 4th. Wells Fargo & Company boosted 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, July 24th. Barclays upped their price objective on United Rentals from $715.00 to $950.00 and gave the company an “underweight” rating in a research report on Friday, July 24th. Evercore reiterated an “outperform” rating and set a $1,101.00 target price on shares of United Rentals in a research report on Monday, May 11th. Finally, Morgan Stanley set a $1,335.00 target price on shares of United Rentals and gave the company an “overweight” rating in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, United Rentals currently has an average rating of “Moderate Buy” and a consensus target price of $1,246.19.

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.