Elevation Point Wealth Partners LLC Raises Position in United Rentals, Inc. $URI

Elevation Point Wealth Partners LLC grew its holdings in United Rentals, Inc. (NYSE:URI) by 520.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,468 shares of the construction company’s stock after acquiring an additional 2,909 shares during the period. Elevation Point Wealth Partners LLC’s holdings in United Rentals were worth $2,527,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of URI. Patten Group Inc. raised its position in United Rentals by 9.4% in the 1st quarter. Patten Group Inc. now owns 2,524 shares of the construction company’s stock valued at $1,839,000 after purchasing an additional 216 shares in the last quarter. Keybank National Association OH raised its holdings in United Rentals by 6.2% in the first quarter. Keybank National Association OH now owns 2,228 shares of the construction company’s stock valued at $1,623,000 after acquiring an additional 130 shares in the last quarter. KPP Advisory Services LLC lifted its stake in United Rentals by 2.4% in the first quarter. KPP Advisory Services LLC now owns 996 shares of the construction company’s stock worth $726,000 after acquiring an additional 23 shares during the last quarter. Capital Asset Advisory Services LLC purchased a new position in United Rentals in the first quarter worth approximately $383,000. Finally, WD Rutherford LLC grew its holdings in United Rentals by 6.5% during the 1st quarter. WD Rutherford LLC now owns 3,734 shares of the construction company’s stock worth $2,720,000 after acquiring an additional 229 shares in the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on URI shares. Citigroup raised their price objective on shares of United Rentals from $950.00 to $1,130.00 and gave the company a “buy” rating in a report on Friday, April 24th. Royal Bank Of Canada raised their price target on United Rentals from $1,041.00 to $1,119.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Robert W. Baird lifted their price target on United Rentals from $970.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Weiss Ratings raised United Rentals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, June 24th. Finally, UBS Group increased their price objective on United Rentals from $1,145.00 to $1,300.00 and gave the company a “buy” rating in a report on Wednesday. Fifteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,119.69.

Insider Transactions at United Rentals

In related news, SVP Joli L. Gross sold 306 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $954.99, for a total transaction of $292,226.94. Following the transaction, the senior vice president owned 5,738 shares in the company, valued at $5,479,732.62. This trade represents a 5.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Craig Adam Pintoff sold 2,466 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $963.00, for a total value of $2,374,758.00. Following the transaction, the executive vice president owned 14,774 shares in the company, valued at $14,227,362. This represents a 14.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 26,088 shares of company stock valued at $25,628,877 over the last quarter. Company insiders own 0.47% of the company’s stock.

United Rentals Trading Up 0.2%

NYSE URI opened at $1,100.43 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.74. The firm’s fifty day moving average price is $1,018.24 and its 200 day moving average price is $892.34. The company has a market capitalization of $68.94 billion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth ratio of 1.76 and a beta of 1.79. United Rentals, Inc. has a 12 month low of $701.59 and a 12 month high of $1,143.69.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing the consensus estimate of $11.47 by ($1.76). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The company had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.20 billion. During the same quarter in the prior year, the business earned $8.86 earnings per share. United Rentals’s revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts expect that United Rentals, Inc. will post 46.76 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were given a dividend of $1.97 per share. The ex-dividend date was Wednesday, May 13th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. United Rentals’s payout ratio is 20.10%.

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.