Wealthfront Advisers LLC Makes New $10.62 Million Investment in United Rentals, Inc. $URI

Wealthfront Advisers LLC purchased a new position in United Rentals, Inc. (NYSE:URI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 9,378 shares of the construction company’s stock, valued at approximately $10,624,000.

Several other hedge funds have also recently added to or reduced their stakes in URI. Foster & Motley Inc. acquired a new stake in United Rentals during the 2nd quarter worth $12,140,000. Ontario Teachers Pension Plan Board purchased a new position in shares of United Rentals in the second quarter worth about $41,846,000. Aljian Capital Management LLC acquired a new position in United Rentals during the second quarter worth about $253,000. Alpine Woods Capital Investors LLC purchased a new stake in United Rentals during the 2nd quarter valued at about $3,488,000. Finally, Meeder Advisory Services Inc. acquired a new stake in United Rentals in the 2nd quarter valued at about $2,998,000. 96.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at United Rentals

In other United Rentals news, EVP William E. Grace sold 1,500 shares of the company’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Argus restated a “buy” rating and set a $1,250.00 target price on shares of United Rentals in a report on Tuesday, August 4th. Raymond James Financial reissued an “outperform” rating and set a $1,275.00 price objective on shares of United Rentals in a research note on Wednesday, June 10th. Evercore reaffirmed an “outperform” rating and issued a $1,101.00 target price on shares of United Rentals in a research note on Monday, May 11th. Truist Financial boosted their price target on shares of United Rentals from $1,421.00 to $1,466.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Finally, Barclays upped their price objective on shares of United Rentals from $715.00 to $950.00 and gave the company an “underweight” rating in a report on Friday, July 24th. 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 a consensus rating of “Moderate Buy” and a consensus target price of $1,246.19.

United Rentals Stock Performance

NYSE URI opened at $1,116.17 on Thursday. The stock has a fifty day simple moving average of $1,098.29 and a 200-day simple moving average of $946.28. 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 stock has a market cap of $69.47 billion, a PE ratio of 26.81, a P/E/G ratio of 1.44 and a beta of 1.80. United Rentals, Inc. has a twelve month low of $701.59 and a twelve month high of $1,179.18.

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

United Rentals Dividend Announcement

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