OVERSEA CHINESE BANKING Corp Ltd Makes New $298,000 Investment in United Rentals, Inc. $URI

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in United Rentals, Inc. (NYSE:URI) in the second quarter, HoldingsChannel reports. The firm acquired 396 shares of the construction company’s stock, valued at approximately $298,000.

Other large investors also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new position in shares of United Rentals in the first quarter worth about $402,291,000. JPMorgan Chase & Co. increased its stake in United Rentals by 98.1% in the 1st quarter. JPMorgan Chase & Co. now owns 1,093,805 shares of the construction company’s stock worth $685,488,000 after purchasing an additional 541,579 shares during the period. Vaughan Nelson Investment Management L.P. bought a new stake in United Rentals in the second quarter valued at approximately $152,069,000. The Manufacturers Life Insurance Company boosted its stake in shares of United Rentals by 28.8% during the first quarter. The Manufacturers Life Insurance Company now owns 849,786 shares of the construction company’s stock valued at $532,561,000 after purchasing an additional 190,007 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of United Rentals by 22.3% during the first quarter. Goldman Sachs Group Inc. now owns 661,251 shares of the construction company’s stock valued at $414,406,000 after purchasing an additional 120,449 shares during the period. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Price Performance

Shares of NYSE URI opened at $877.20 on Wednesday. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year high of $1,021.47. The stock has a market capitalization of $55.82 billion, a P/E ratio of 22.56, a P/E/G ratio of 2.03 and a beta of 1.73. The company’s 50-day moving average is $955.20 and its 200 day moving average is $817.52. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.90 and a quick ratio of 0.84.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, October 22nd. The construction company reported $11.70 earnings per share for the quarter, missing the consensus estimate of $12.43 by ($0.73). United Rentals had a net margin of 15.83% and a return on equity of 31.30%. The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.16 billion. During the same period in the previous year, the firm posted $11.80 earnings per share. The business’s revenue was up 5.9% compared to the same quarter last year. United Rentals has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th will be paid a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 12th. United Rentals’s dividend payout ratio is presently 18.42%.

Wall Street Analyst Weigh In

A number of research firms recently commented on URI. Bank of America upped their price target on shares of United Rentals from $895.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Evercore ISI restated an “outperform” rating on shares of United Rentals in a research report on Tuesday, August 19th. Baird R W upgraded shares of United Rentals from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Sanford C. Bernstein set a $1,128.00 price target on United Rentals and gave the company an “outperform” rating in a report on Tuesday, September 23rd. Finally, JPMorgan Chase & Co. upped their price target on United Rentals from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $974.47.

United Rentals 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.