Baker Avenue Asset Management LP Buys 35 Shares of United Rentals, Inc. (NYSE:URI)

Baker Avenue Asset Management LP raised its stake in shares of United Rentals, Inc. (NYSE:URI) by 6.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 615 shares of the construction company’s stock after purchasing an additional 35 shares during the period. Baker Avenue Asset Management LP’s holdings in United Rentals were worth $386,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Jefferies Financial Group Inc. bought a new position in United Rentals during the 1st quarter worth $4,074,000. Foster & Motley Inc. raised its position in United Rentals by 4.5% during the 1st quarter. Foster & Motley Inc. now owns 8,699 shares of the construction company’s stock worth $5,452,000 after purchasing an additional 378 shares during the last quarter. SlateStone Wealth LLC raised its position in United Rentals by 5.9% during the 1st quarter. SlateStone Wealth LLC now owns 6,087 shares of the construction company’s stock worth $3,814,000 after purchasing an additional 338 shares during the last quarter. Arkadios Wealth Advisors raised its position in United Rentals by 862.6% during the 1st quarter. Arkadios Wealth Advisors now owns 5,843 shares of the construction company’s stock worth $3,662,000 after purchasing an additional 5,236 shares during the last quarter. Finally, XTX Topco Ltd raised its position in United Rentals by 107.4% during the 1st quarter. XTX Topco Ltd now owns 3,399 shares of the construction company’s stock worth $2,130,000 after purchasing an additional 1,760 shares during the last quarter. 96.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

URI has been the subject of a number of recent analyst reports. Barclays increased their price target on United Rentals from $565.00 to $620.00 and gave the stock an “underweight” rating in a report on Monday, July 21st. Truist Financial increased their price target on United Rentals from $786.00 to $952.00 and gave the stock a “buy” rating in a report on Friday, July 25th. The Goldman Sachs Group increased their price target on United Rentals from $770.00 to $850.00 and gave the stock a “buy” rating in a report on Tuesday, May 27th. Evercore ISI decreased their price target on United Rentals from $974.00 to $921.00 and set an “outperform” rating for the company in a report on Monday, May 19th. Finally, Morgan Stanley increased their price target on United Rentals from $702.00 to $955.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $830.71.

United Rentals Stock Performance

Shares of URI opened at $859.77 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.86 and a quick ratio of 0.80. The stock has a 50-day moving average of $765.18 and a 200-day moving average of $700.36. The company has a market cap of $55.32 billion, a PE ratio of 22.23, a P/E/G ratio of 1.99 and a beta of 1.72. United Rentals, Inc. has a one year low of $525.91 and a one year high of $903.60.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, July 23rd. The construction company reported $10.47 EPS for the quarter, missing the consensus estimate of $10.54 by ($0.07). The firm had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.90 billion. United Rentals had a net margin of 16.11% and a return on equity of 32.01%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.70 earnings per share. On average, equities research analysts predict that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th will be paid a dividend of $1.79 per share. The ex-dividend date is Wednesday, August 13th. This represents a $7.16 dividend on an annualized basis and a yield of 0.8%. United Rentals’s payout ratio is 18.52%.

Insider Transactions at United Rentals

In other United Rentals news, VP Andrew B. Limoges sold 708 shares of United Rentals stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $705.86, for a total transaction of $499,748.88. Following the completion of the transaction, the vice president owned 1,921 shares in the company, valued at approximately $1,355,957.06. The trade was a 26.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.53% of the company’s stock.

United Rentals Company Profile

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.