Lazard Asset Management LLC Grows Position in United Rentals, Inc. $URI

Lazard Asset Management LLC grew its position in United Rentals, Inc. (NYSE:URI) by 34,208.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 189,038 shares of the construction company’s stock after acquiring an additional 188,487 shares during the quarter. Lazard Asset Management LLC’s holdings in United Rentals were worth $142,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Norges Bank bought a new position in United Rentals during the second quarter valued at $776,102,000. JPMorgan Chase & Co. raised its position in shares of United Rentals by 71.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,874,127 shares of the construction company’s stock valued at $1,411,968,000 after buying an additional 780,322 shares in the last quarter. Boston Partners raised its position in shares of United Rentals by 74.5% during the 2nd quarter. Boston Partners now owns 715,250 shares of the construction company’s stock valued at $542,526,000 after buying an additional 305,378 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of United Rentals in the 2nd quarter valued at about $152,069,000. Finally, The Manufacturers Life Insurance Company grew its position in United Rentals by 28.8% in the first quarter. The Manufacturers Life Insurance Company now owns 849,786 shares of the construction company’s stock worth $532,561,000 after acquiring an additional 190,007 shares in the last quarter. Institutional investors own 96.26% of the company’s stock.

United Rentals Price Performance

URI opened at $818.41 on Friday. The business has a fifty day moving average of $873.46 and a 200 day moving average of $855.63. The stock has a market cap of $52.08 billion, a P/E ratio of 21.05, a PEG ratio of 1.89 and a beta of 1.68. The company has a quick ratio of 0.84, a current ratio of 0.90 and a debt-to-equity ratio of 1.40. United Rentals, Inc. has a 52-week low of $525.91 and a 52-week high of $1,021.47.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, October 22nd. The construction company reported $11.70 EPS for the quarter, missing analysts’ consensus estimates of $12.43 by ($0.73). United Rentals had a return on equity of 31.30% and a net margin of 15.83%.The company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter in the previous year, the company posted $11.80 earnings per share. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. As a group, sell-side analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th were given a dividend of $1.79 per share. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 0.9%. United Rentals’s dividend payout ratio (DPR) is 18.42%.

Analyst Ratings Changes

URI has been the topic of a number of recent research reports. Citigroup decreased their price objective on United Rentals from $1,140.00 to $950.00 and set a “buy” rating on the stock in a research report on Thursday. Truist Financial set a $1,169.00 target price on United Rentals in a research report on Friday, October 24th. KeyCorp restated an “overweight” rating on shares of United Rentals in a report on Wednesday, December 3rd. Evercore ISI reaffirmed an “outperform” rating on shares of United Rentals in a research note on Tuesday, August 19th. Finally, Barclays cut their price objective on shares of United Rentals from $620.00 to $600.00 and set an “underweight” rating on the stock in a research report on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $961.72.

United Rentals Profile

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.