United Rentals, Inc. $URI Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp increased its position in United Rentals, Inc. (NYSE:URI) by 226.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,836 shares of the construction company’s stock after buying an additional 6,128 shares during the quarter. Van ECK Associates Corp’s holdings in United Rentals were worth $10,010,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of URI. BlackRock Inc. acquired a new position in shares of United Rentals in the second quarter worth about $5,816,326,000. Capital World Investors grew its position in United Rentals by 1.1% during the 4th quarter. Capital World Investors now owns 2,708,877 shares of the construction company’s stock worth $2,192,357,000 after purchasing an additional 30,263 shares in 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 valued at $1,087,711,000 after purchasing an additional 28,895 shares during the period. Norges Bank acquired a new stake in United Rentals during the 4th quarter valued at $978,017,000. Finally, Bank of America Corp DE purchased a new stake in shares of United Rentals in the second quarter valued at $944,196,000. 96.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Zacks Research upgraded shares of United Rentals from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Truist Financial boosted their price target on United Rentals from $1,421.00 to $1,466.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. JPMorgan Chase & Co. lifted their target price on shares of United Rentals from $1,100.00 to $1,235.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Weiss Ratings raised United Rentals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 23rd. Finally, Raymond James Financial reissued an “outperform” rating and set a $1,275.00 target price on shares of United Rentals in a research report on Wednesday, June 10th. 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,246.19.

Insider Activity at United Rentals

In related news, EVP William E. Grace sold 1,500 shares of the firm’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.47% of the stock is currently owned by insiders.

United Rentals Stock Down 4.7%

United Rentals stock opened at $989.49 on Wednesday. The firm has a market capitalization of $61.59 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 1.53 and a beta of 1.79. The company’s 50 day simple moving average is $1,094.73 and its 200 day simple moving average is $959.71. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.70. United Rentals, Inc. has a fifty-two week low of $701.59 and a fifty-two week high of $1,179.18.

United Rentals (NYSE:URI) last announced 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 return on equity of 31.72% and a net margin of 15.67%.The company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the prior year, the company earned $10.47 earnings per share. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that United Rentals, Inc. will post 48.55 EPS for the current year.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were given a dividend of $1.97 per share. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $7.88 annualized dividend and a dividend yield of 0.8%. United Rentals’s dividend payout ratio is currently 18.92%.

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.