Kingsview Wealth Management LLC Buys Shares of 499 United Rentals, Inc. $URI

Kingsview Wealth Management LLC purchased a new position in United Rentals, Inc. (NYSE:URI) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 499 shares of the construction company’s stock, valued at approximately $565,000.

A number of other large investors also recently modified their holdings of URI. PFG Investments LLC raised its stake in United Rentals by 0.9% during the 1st quarter. PFG Investments LLC now owns 1,172 shares of the construction company’s stock valued at $854,000 after purchasing an additional 11 shares during the last quarter. CoreCap Advisors LLC grew its position in United Rentals by 16.9% in the 2nd quarter. CoreCap Advisors LLC now owns 76 shares of the construction company’s stock worth $86,000 after purchasing an additional 11 shares during the last quarter. Great Valley Advisor Group Inc. grew its position in United Rentals by 2.9% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock worth $292,000 after purchasing an additional 11 shares during the last quarter. Legacy Financial Advisors Inc. increased its holdings in shares of United Rentals by 3.9% during the 4th quarter. Legacy Financial Advisors Inc. now owns 322 shares of the construction company’s stock worth $260,000 after purchasing an additional 12 shares during the period. Finally, Moss Adams Wealth Advisors LLC increased its holdings in shares of United Rentals by 2.0% during the 1st quarter. Moss Adams Wealth Advisors LLC now owns 605 shares of the construction company’s stock worth $441,000 after purchasing an additional 12 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

URI has been the subject of several research reports. BNP Paribas Exane upgraded shares of United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 target price for the company in a research note on Monday, June 29th. Zacks Research upgraded United Rentals from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Truist Financial upped their price target 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. KeyCorp reiterated an “overweight” rating and issued a $1,350.00 price objective on shares of United Rentals in a research report on Friday, July 24th. Finally, Citigroup lifted their price objective on United Rentals from $1,270.00 to $1,330.00 and gave the stock a “buy” rating in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, United Rentals currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,246.19.

United Rentals Price Performance

Shares of United Rentals stock opened at $1,030.64 on Monday. The firm has a market cap of $64.15 billion, a P/E ratio of 24.75, a price-to-earnings-growth ratio of 1.33 and a beta of 1.80. The firm’s 50-day simple moving average is $1,097.31 and its 200-day simple moving average is $957.73. United Rentals, Inc. has a twelve month low of $701.59 and a twelve month high of $1,179.18. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.70 and a current ratio of 0.76.

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

United Rentals Dividend Announcement

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

Insider Transactions at United Rentals

In other United Rentals 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 transaction of $1,699,725.00. Following the completion of 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 legal filing with the SEC, which can be accessed through this link. 0.47% of the stock is owned by corporate insiders.

United Rentals 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.