EP Wealth Advisors LLC Buys New Position in United Rentals, Inc. $URI

EP Wealth Advisors LLC bought a new stake in United Rentals, Inc. (NYSE:URI) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 18,278 shares of the construction company’s stock, valued at approximately $20,707,000.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of United Rentals during the second quarter valued at approximately $5,816,326,000. Norges Bank purchased a new stake in United Rentals in the 4th quarter worth approximately $978,017,000. Bank of New York Mellon Corp purchased a new stake in United Rentals in the 2nd quarter worth approximately $412,860,000. Corient Private Wealth LLC grew 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 acquiring an additional 324,503 shares during the period. Finally, Deutsche Bank AG acquired a new position in United Rentals in the 2nd quarter valued at $218,508,000. 96.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at United Rentals

In other 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 transaction, the executive vice president directly owned 6,062 shares in the company, valued at $6,869,155.30. This trade represents a 19.84% decrease in their position. The transaction 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 Down 0.0%

Shares of NYSE URI opened at $1,095.21 on Friday. The stock has a market capitalization of $68.17 billion, a PE ratio of 26.30, a P/E/G ratio of 1.41 and a beta of 1.80. 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 fifty day moving average of $1,099.22 and a 200-day moving average of $949.51. United Rentals, Inc. has a 52-week low of $701.59 and a 52-week high of $1,179.18.

United Rentals (NYSE:URI) last issued its 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 return on equity of 31.72% and a net margin of 15.67%.The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same period last year, the company posted $10.47 EPS. The business’s quarterly revenue was up 11.8% on a year-over-year basis. On average, analysts anticipate that United Rentals, Inc. will post 48.55 EPS for the current year.

United Rentals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders 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 annualized dividend and a yield of 0.7%. United Rentals’s dividend payout ratio is currently 18.92%.

Analysts Set New Price Targets

URI has been the topic of several analyst reports. Zacks Research upgraded United Rentals from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Morgan Stanley set a $1,335.00 target price on United Rentals and gave the company an “overweight” rating in a research note on Friday, July 24th. UBS Group increased their target price on United Rentals from $1,300.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Argus reissued a “buy” rating and issued a $1,250.00 price target on shares of United Rentals in a research note on Tuesday, August 4th. Finally, Royal Bank Of Canada lifted their price target on United Rentals from $1,041.00 to $1,119.00 and gave the company an “outperform” rating in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,246.19.

United Rentals 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.