Diversify Advisory Services LLC Invests $1.93 Million in United Rentals, Inc. $URI

Diversify Advisory Services LLC purchased a new stake in United Rentals, Inc. (NYSE:URI) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,713 shares of the construction company’s stock, valued at approximately $1,932,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of URI. BlackRock Inc. purchased a new stake in United Rentals in the second quarter valued at $5,816,326,000. Capital World Investors increased its holdings in shares of United Rentals by 1.1% in the 4th quarter. Capital World Investors now owns 2,708,877 shares of the construction company’s stock valued at $2,192,357,000 after acquiring an additional 30,263 shares during the last quarter. Franklin Resources Inc. raised its stake in United Rentals by 2.2% during the 4th quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company’s stock worth $1,087,711,000 after acquiring an additional 28,895 shares in the last quarter. Norges Bank purchased a new stake in United Rentals in the fourth quarter valued at approximately $978,017,000. Finally, Bank of America Corp DE raised its holdings in shares of United Rentals by 14.7% in the first quarter. Bank of America Corp DE now owns 806,380 shares of the construction company’s stock valued at $587,496,000 after buying an additional 103,371 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on URI shares. Raymond James Financial restated an “outperform” rating and issued a $1,275.00 price objective on shares of United Rentals in a research report on Wednesday, June 10th. Wells Fargo & Company raised their price target on United Rentals from $1,245.00 to $1,355.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Truist Financial boosted their price objective 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. BNP Paribas Exane raised shares of United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price target for the company in a report on Monday, June 29th. Finally, Wall Street Zen raised shares of United Rentals from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,246.19.

United Rentals Stock Down 0.0%

United Rentals stock opened at $1,116.17 on Thursday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.70 and a current ratio of 0.76. United Rentals, Inc. has a one year low of $701.59 and a one year high of $1,179.18. The company has a 50-day simple moving average of $1,098.29 and a 200-day simple moving average of $946.28. The firm has a market capitalization of $69.47 billion, a P/E ratio of 26.81, a P/E/G ratio of 1.44 and a beta of 1.80.

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

United Rentals Announces Dividend

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

Insider Buying and Selling

In other United Rentals news, EVP William E. Grace sold 1,500 shares of the business’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.47% of the stock is currently 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.