Oakmont Investment Advisors Inc. Buys New Position in United Rentals, Inc. $URI

Oakmont Investment Advisors Inc. purchased a new position in shares of United Rentals, Inc. (NYSE:URI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,075 shares of the construction company’s stock, valued at approximately $1,218,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of URI. SFE Investment Counsel acquired a new stake in United Rentals during the 2nd quarter valued at approximately $12,765,000. Eventide Asset Management LLC boosted its stake in shares of United Rentals by 19.6% during the 4th quarter. Eventide Asset Management LLC now owns 95,940 shares of the construction company’s stock valued at $77,666,000 after buying an additional 15,696 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of United Rentals by 52.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,241 shares of the construction company’s stock worth $2,623,000 after buying an additional 1,109 shares in the last quarter. Bridges Investment Management Inc. increased its stake in shares of United Rentals by 2.0% in the fourth quarter. Bridges Investment Management Inc. now owns 69,583 shares of the construction company’s stock worth $56,315,000 after buying an additional 1,354 shares during the last quarter. Finally, WINTON GROUP Ltd raised its holdings in United Rentals by 995.1% in the fourth quarter. WINTON GROUP Ltd now owns 13,612 shares of the construction company’s stock valued at $11,016,000 after acquiring an additional 12,369 shares in the last quarter. Hedge funds and other institutional investors 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 that occurred on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total value 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on URI shares. UBS Group increased their price target on shares of United Rentals from $1,300.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Truist Financial boosted their price objective on United Rentals from $1,421.00 to $1,466.00 and gave the company a “buy” rating in a report on Friday, July 24th. BNP Paribas Exane upgraded United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price objective on the stock in a research note on Monday, June 29th. Bank of America lifted their target price on United Rentals from $1,195.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Finally, Zacks Research upgraded United Rentals from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,246.19.

United Rentals Trading Up 1.6%

United Rentals stock opened at $1,009.78 on Friday. United Rentals, Inc. has a 52-week low of $701.59 and a 52-week high of $1,179.18. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $62.85 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 1.46 and a beta of 1.79. The firm has a 50-day moving average price of $1,087.43 and a two-hundred day moving average price of $961.69.

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

United Rentals Dividend Announcement

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

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.