Opal Wealth Advisors LLC Raises Holdings in United Rentals, Inc. (NYSE:URI)

Opal Wealth Advisors LLC grew its position in shares of United Rentals, Inc. (NYSE:URI) by 7.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 434 shares of the construction company’s stock after buying an additional 31 shares during the period. Opal Wealth Advisors LLC’s holdings in United Rentals were worth $272,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of United Rentals by 12.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,160 shares of the construction company’s stock valued at $4,488,000 after buying an additional 789 shares during the last quarter. New England Research & Management Inc. lifted its position in shares of United Rentals by 11.3% during the 1st quarter. New England Research & Management Inc. now owns 8,745 shares of the construction company’s stock valued at $5,480,000 after buying an additional 890 shares during the last quarter. Elevation Point Wealth Partners LLC lifted its holdings in United Rentals by 32.9% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 2,220 shares of the construction company’s stock worth $1,391,000 after purchasing an additional 550 shares in the last quarter. Argus Investors Counsel Inc. lifted its holdings in United Rentals by 1.4% during the 1st quarter. Argus Investors Counsel Inc. now owns 3,298 shares of the construction company’s stock worth $2,067,000 after purchasing an additional 44 shares in the last quarter. Finally, Everhart Financial Group Inc. lifted its holdings in United Rentals by 5.4% during the 1st quarter. Everhart Financial Group Inc. now owns 551 shares of the construction company’s stock worth $345,000 after purchasing an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Insider Buying and Selling at United Rentals

In other United Rentals news, VP Andrew B. Limoges sold 708 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $705.86, for a total value of $499,748.88. Following the transaction, the vice president now owns 1,921 shares in the company, valued at approximately $1,355,957.06. The trade was a 26.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael D. Durand sold 1,100 shares of the business’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $626.28, for a total transaction of $688,908.00. Following the transaction, the executive vice president now owns 8,748 shares in the company, valued at $5,478,697.44. This represents a 11.17% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

United Rentals Price Performance

Shares of United Rentals stock opened at $695.09 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $45.18 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 1.43 and a beta of 1.70. The business’s 50-day moving average price is $662.96 and its 200-day moving average price is $692.54. United Rentals, Inc. has a 12 month low of $525.91 and a 12 month high of $896.98.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, April 23rd. The construction company reported $8.86 EPS for the quarter, missing analysts’ consensus estimates of $8.92 by ($0.06). The company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.61 billion. United Rentals had a return on equity of 34.21% and a net margin of 16.78%. United Rentals’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the firm earned $9.15 earnings per share. Sell-side analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were issued a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Wednesday, May 14th. United Rentals’s dividend payout ratio (DPR) is presently 18.54%.

Analysts Set New Price Targets

URI has been the topic of a number of recent research reports. Morgan Stanley raised United Rentals from an “equal weight” rating to an “overweight” rating and set a $702.00 price objective on the stock in a report on Wednesday, April 16th. Truist Financial increased their price objective on United Rentals from $732.00 to $786.00 and gave the stock a “buy” rating in a report on Friday, April 25th. Sanford C. Bernstein raised United Rentals from an “underperform” rating to a “market perform” rating and dropped their price objective for the stock from $705.00 to $666.00 in a report on Tuesday, March 25th. Bank of America dropped their price objective on United Rentals from $850.00 to $750.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Finally, Robert W. Baird increased their price objective on United Rentals from $535.00 to $571.00 and gave the stock a “neutral” rating in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $753.64.

About United Rentals

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.