Plato Investment Management Ltd Buys 4,320 Shares of United Rentals, Inc. $URI

Plato Investment Management Ltd increased its stake in shares of United Rentals, Inc. (NYSE:URI) by 63.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,088 shares of the construction company’s stock after acquiring an additional 4,320 shares during the period. Plato Investment Management Ltd’s holdings in United Rentals were worth $804,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in URI. Woodline Partners LP raised its position in United Rentals by 40.0% in the 1st quarter. Woodline Partners LP now owns 5,518 shares of the construction company’s stock valued at $3,458,000 after buying an additional 1,577 shares during the last quarter. Sei Investments Co. boosted its position in United Rentals by 24.7% during the 2nd quarter. Sei Investments Co. now owns 27,136 shares of the construction company’s stock worth $20,444,000 after acquiring an additional 5,375 shares during the last quarter. Treasurer of the State of North Carolina boosted its position in United Rentals by 43.6% during the 2nd quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company’s stock worth $42,233,000 after acquiring an additional 17,030 shares during the last quarter. HUB Investment Partners LLC grew its stake in shares of United Rentals by 11.3% during the 2nd quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company’s stock worth $1,661,000 after acquiring an additional 223 shares in the last quarter. Finally, Diversify Advisory Services LLC raised its holdings in shares of United Rentals by 338.7% in the second quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company’s stock valued at $1,246,000 after purchasing an additional 1,277 shares during the last quarter. 96.26% of the stock is owned by institutional investors.

United Rentals Price Performance

NYSE:URI opened at $1,117.24 on Wednesday. The stock has a market capitalization of $69.54 billion, a PE ratio of 26.83, a P/E/G ratio of 1.49 and a beta of 1.80. United Rentals, Inc. has a 1-year low of $701.59 and a 1-year high of $1,179.18. The firm has a fifty day simple moving average of $1,097.10 and a 200 day simple moving average of $943.95. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI) last posted 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 firm 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%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $10.47 earnings per share. On average, research analysts expect that United Rentals, Inc. will post 48.55 EPS for the current fiscal year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be issued a $1.97 dividend. 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 presently 18.92%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on URI shares. KeyCorp reissued an “overweight” rating and issued a $1,350.00 price objective on shares of United Rentals in a research report on Friday, July 24th. Weiss Ratings upgraded shares of United Rentals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 23rd. UBS Group boosted 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. JPMorgan Chase & Co. increased 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 research note on Friday, July 24th. Finally, Royal Bank Of Canada raised their price objective on United Rentals from $1,041.00 to $1,119.00 and gave the company an “outperform” rating in a report on Friday, April 24th. One 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,246.19.

Insider Activity

In related news, EVP William E. Grace sold 1,500 shares of the stock in a transaction 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 owned 6,062 shares in the company, valued at approximately $6,869,155.30. This represents a 19.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.47% of the stock is currently owned by insiders.

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.