Meeder Advisory Services Inc. Takes Position in United Rentals, Inc. $URI

Meeder Advisory Services Inc. acquired a new position in United Rentals, Inc. (NYSE:URI) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,646 shares of the construction company’s stock, valued at approximately $2,998,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of United Rentals during the 2nd quarter valued at about $5,816,326,000. Capital World Investors lifted its position in United Rentals by 1.1% during the fourth quarter. Capital World Investors now owns 2,708,877 shares of the construction company’s stock valued at $2,192,357,000 after purchasing an additional 30,263 shares during the last quarter. Franklin Resources Inc. grew its stake in United Rentals by 2.2% in the 4th quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company’s stock worth $1,087,711,000 after buying an additional 28,895 shares in the last quarter. Norges Bank purchased a new position in United Rentals in the 4th quarter worth approximately $978,017,000. Finally, Bank of America Corp DE increased its holdings in shares of United Rentals by 14.7% in the 1st quarter. Bank of America Corp DE now owns 806,380 shares of the construction company’s stock worth $587,496,000 after buying an additional 103,371 shares during the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on URI shares. JPMorgan Chase & Co. lifted their price objective on shares of United Rentals from $1,100.00 to $1,235.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. UBS Group lifted their price target on United Rentals from $1,300.00 to $1,350.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Bank of America increased their price objective on United Rentals from $1,195.00 to $1,300.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. KeyCorp reissued an “overweight” rating and set a $1,350.00 price objective on shares of United Rentals in a report on Friday, July 24th. Finally, Argus restated a “buy” rating and issued a $1,250.00 target price on shares of United Rentals in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,246.19.

Insider Activity at United Rentals

In related news, EVP William E. Grace sold 1,500 shares of the company’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the completion of the sale, the executive vice president directly owned 6,062 shares in the company, valued at $6,869,155.30. This represents a 19.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.47% of the stock is currently owned by insiders.

United Rentals Stock Performance

NYSE URI opened at $1,117.24 on Wednesday. The company has a 50-day simple moving average of $1,097.10 and a two-hundred day simple moving average of $943.95. United Rentals, Inc. has a 12-month low of $701.59 and a 12-month high of $1,179.18. The firm has a market cap of $69.54 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 1.49 and a beta of 1.80. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI) last released its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 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 the consensus estimate of $4.22 billion. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $10.47 earnings per share. On average, equities analysts forecast that United Rentals, Inc. will post 48.55 EPS for the current year.

United Rentals Dividend Announcement

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

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.