Concurrent Investment Advisors LLC Reduces Stock Position in United Rentals, Inc. $URI

Concurrent Investment Advisors LLC trimmed its position in United Rentals, Inc. (NYSE:URI) by 3.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,299 shares of the construction company’s stock after selling 687 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in United Rentals were worth $20,731,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Core Wealth Advisors LLC purchased a new stake in United Rentals in the fourth quarter valued at approximately $28,000. MV Capital Management Inc. acquired a new position in United Rentals in the 4th quarter worth approximately $28,000. Clal Insurance Enterprises Holdings Ltd purchased a new position in United Rentals during the 2nd quarter worth approximately $29,000. MidFirst Bank purchased a new position in United Rentals during the 2nd quarter worth approximately $31,000. Finally, Hilton Head Capital Partners LLC acquired a new stake in United Rentals during the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insider Buying and Selling

In related news, EVP William 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 owned 6,062 shares in the company, valued at approximately $6,869,155.30. This trade represents a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.47% of the company’s stock.

United Rentals Trading Up 1.2%

United Rentals stock opened at $991.97 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38. United Rentals, Inc. has a 12 month low of $701.59 and a 12 month high of $1,179.18. The stock’s 50 day simple moving average is $1,089.69 and its two-hundred day simple moving average is $961.35. The firm has a market cap of $61.74 billion, a PE ratio of 23.82, a P/E/G ratio of 1.44 and a beta of 1.79.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, topping analysts’ consensus estimates of $11.53 by $1.23. The business had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.22 billion. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The business’s revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the company earned $10.47 EPS. Analysts anticipate that United Rentals, Inc. will post 48.55 earnings per share for the current year.

United Rentals Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have recently commented on URI. Truist Financial upped their price objective on shares of United Rentals from $1,421.00 to $1,466.00 and gave the company a “buy” rating in a report on Friday, July 24th. Raymond James Financial reissued an “outperform” rating and set a $1,275.00 target price on shares of United Rentals in a report on Wednesday, June 10th. Wall Street Zen upgraded shares of United Rentals from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Bank of America upped their price target on shares of United Rentals from $1,195.00 to $1,300.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Finally, Evercore reaffirmed an “outperform” rating and set a $1,101.00 price target on shares of United Rentals in a research report on Monday, May 11th. One equities research 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. According to MarketBeat.com, United Rentals currently has a consensus rating of “Moderate Buy” and a consensus target price 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.