NewEdge Advisors LLC Grows Stock Holdings in United Rentals, Inc. $URI

NewEdge Advisors LLC grew its stake in United Rentals, Inc. (NYSE:URI) by 106.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,002 shares of the construction company’s stock after purchasing an additional 1,545 shares during the period. NewEdge Advisors LLC’s holdings in United Rentals were worth $3,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in URI. PFG Investments LLC grew its holdings in United Rentals by 0.9% in the 1st quarter. PFG Investments LLC now owns 1,172 shares of the construction company’s stock valued at $854,000 after buying an additional 11 shares in the last quarter. CoreCap Advisors LLC boosted its position in shares of United Rentals by 16.9% during the 2nd quarter. CoreCap Advisors LLC now owns 76 shares of the construction company’s stock valued at $86,000 after acquiring an additional 11 shares during the last quarter. Moss Adams Wealth Advisors LLC grew its holdings in shares of United Rentals by 2.0% in the first quarter. Moss Adams Wealth Advisors LLC now owns 605 shares of the construction company’s stock valued at $441,000 after purchasing an additional 12 shares during the period. Parallel Advisors LLC increased its position in United Rentals by 0.8% during the first quarter. Parallel Advisors LLC now owns 1,485 shares of the construction company’s stock worth $1,082,000 after purchasing an additional 12 shares during the last quarter. Finally, Frazier Financial Advisors LLC raised its stake in United Rentals by 33.3% during the first quarter. Frazier Financial Advisors LLC now owns 56 shares of the construction company’s stock worth $41,000 after purchasing an additional 14 shares during the period. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Trading Down 0.6%

Shares of NYSE URI opened at $988.17 on Wednesday. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $61.50 billion, a PE ratio of 23.73, a PEG ratio of 1.46 and a beta of 1.79. United Rentals, Inc. has a twelve month low of $701.59 and a twelve month high of $1,179.18. The stock has a fifty day simple moving average of $1,073.25 and a 200-day simple moving average of $968.28.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, July 22nd. The construction company reported $12.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.53 by $1.23. The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.United Rentals’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.47 EPS. On average, equities analysts forecast that United Rentals, Inc. will post 48.7 earnings per share for the current year.

United Rentals Dividend Announcement

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

Insider Activity at United Rentals

In other news, EVP William Grace sold 1,500 shares of the company’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 sale, the executive vice president owned 6,062 shares of the company’s stock, valued at approximately $6,869,155.30. This represents a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.47% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on URI shares. Citigroup restated a “buy” rating on shares of United Rentals in a report on Monday. Bank of America raised their target price on United Rentals from $1,195.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Morgan Stanley set a $1,335.00 price target on United Rentals and gave the company an “overweight” rating in a research note on Friday, July 24th. BNP Paribas Exane raised United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price objective for the company in a research report on Monday, June 29th. Finally, Raymond James Financial restated an “outperform” rating and issued a $1,275.00 price objective on shares of United Rentals in a report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, United Rentals currently has an average rating of “Moderate Buy” and an average target price of $1,230.88.

About United Rentals

United Rentals, Inc is an equipment rental company serving construction, industrial, commercial, government and residential customers. The company provides access to a broad range of equipment without requiring customers to purchase and maintain their own fleets.

Its rental offerings include aerial work platforms, earthmoving equipment, material-handling equipment, trucks and trailers, power-generation and climate-control equipment, pumps, tools, trench-safety products and traffic-control equipment.