Lombard Odier Asset Management Switzerland SA Invests $4.31 Million in United Rentals, Inc. $URI

Lombard Odier Asset Management Switzerland SA purchased a new position in United Rentals, Inc. (NYSE:URI) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,912 shares of the construction company’s stock, valued at approximately $4,307,000.

Several other hedge funds have also recently bought and sold shares of URI. Norges Bank acquired a new stake in United Rentals in the fourth quarter valued at $978,017,000. Corient Private Wealth LLC raised its stake in shares of United Rentals by 1,667.4% during the 4th quarter. Corient Private Wealth LLC now owns 343,965 shares of the construction company’s stock worth $278,378,000 after buying an additional 324,503 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of United Rentals by 3,459.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 196,688 shares of the construction company’s stock worth $159,184,000 after buying an additional 191,162 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of United Rentals in the 4th quarter worth about $102,945,000. Finally, Victory Capital Management Inc. boosted its position in shares of United Rentals by 103.7% in the 4th quarter. Victory Capital Management Inc. now owns 231,018 shares of the construction company’s stock worth $186,967,000 after buying an additional 117,584 shares in the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting United Rentals

Here are the key news stories impacting United Rentals this week:

• Positive Sentiment: JPMorgan raised its price target on United Rentals to $1,235 and kept an overweight rating, signaling confidence in continued upside. JPMorgan price target increase
• Positive Sentiment: Truist boosted its target to $1,466 and maintained a buy rating, reflecting a more optimistic view of URI’s earnings power and demand trends. Truist price target increase
• Positive Sentiment: Citigroup raised its target to $1,330 with a buy rating after the company’s strong Q2 results and improved guidance. Citigroup price target increase
• Positive Sentiment: Bank of America increased its target to $1,300 and reiterated a buy rating, adding to the positive analyst momentum around the stock. Bank of America price target increase
• Positive Sentiment: United Rentals reported Q2 earnings of $12.76 per share and revenue of $4.41 billion, both ahead of expectations, and raised full-year guidance on stronger rental growth and demand. Q2 earnings beat and guidance raise
• Neutral Sentiment: The company also declared a quarterly dividend of $1.97 per share, which is a modest shareholder-return update but not likely the main driver of today’s trading. Dividend announcement

United Rentals Trading Down 0.1%

Shares of URI stock opened at $1,140.19 on Monday. The company has a market capitalization of $70.97 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 1.51 and a beta of 1.79. 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 firm has a 50-day moving average price of $1,052.87 and a 200 day moving average price of $919.31. United Rentals, Inc. has a twelve month low of $701.59 and a twelve month high of $1,177.67.

United Rentals (NYSE:URI) last released 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. The company 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 firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the company earned $10.47 EPS. Research analysts forecast that United Rentals, Inc. will post 47.32 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be given a dividend of $1.97 per share. The ex-dividend date is Wednesday, August 12th. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. United Rentals’s dividend payout ratio (DPR) is 18.92%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Raymond James Financial restated an “outperform” rating and set a $1,275.00 target price on shares of United Rentals in a report on Wednesday, June 10th. Evercore reaffirmed an “outperform” rating and issued a $1,101.00 price target on shares of United Rentals in a report on Monday, May 11th. Royal Bank Of Canada increased their price target on shares of United Rentals from $1,041.00 to $1,119.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Wells Fargo & Company raised their price objective on shares of United Rentals from $1,245.00 to $1,355.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Citigroup upped their target price on United Rentals from $1,270.00 to $1,330.00 and gave the company a “buy” rating in a research note on Friday. Fifteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,226.50.

United Rentals Company 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.