Denali Advisors LLC Invests $1.28 Million in United Rentals, Inc. $URI

Denali Advisors LLC acquired a new stake in shares of United Rentals, Inc. (NYSE:URI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,130 shares of the construction company’s stock, valued at approximately $1,280,000.

Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in United Rentals during the 2nd quarter worth about $5,816,326,000. Norges Bank acquired a new position in shares of United Rentals in the fourth quarter valued at about $978,017,000. Bank of New York Mellon Corp acquired a new position in shares of United Rentals in the second quarter valued at about $412,860,000. Corient Private Wealth LLC raised its stake in shares of United Rentals by 1,667.4% in the fourth quarter. Corient Private Wealth LLC now owns 343,965 shares of the construction company’s stock worth $278,378,000 after purchasing an additional 324,503 shares during the last quarter. Finally, Deutsche Bank AG purchased a new position in shares of United Rentals in the second quarter worth about $218,508,000. 96.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at United Rentals

In related news, EVP William E. Grace sold 1,500 shares of the business’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total value 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. The trade was a 19.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.47% of the stock is currently owned by company insiders.

United Rentals Stock Down 0.0%

United Rentals stock opened at $1,116.17 on Thursday. The firm has a market cap of $69.47 billion, a price-to-earnings ratio of 26.81, a price-to-earnings-growth ratio of 1.44 and a beta of 1.80. United Rentals, Inc. has a 52 week low of $701.59 and a 52 week high of $1,179.18. The business’s 50-day moving average price is $1,098.29 and its 200 day moving average price is $946.28. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38.

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

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be issued a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, August 12th. United Rentals’s payout ratio is 18.92%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on URI shares. Zacks Research raised United Rentals from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Wall Street Zen upgraded shares of United Rentals from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. KeyCorp reissued an “overweight” rating and set a $1,350.00 price target on shares of United Rentals in a research report on Friday, July 24th. Royal Bank Of Canada lifted their price objective on shares of United Rentals from $1,041.00 to $1,119.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Finally, BNP Paribas Exane raised shares of United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price objective on the stock in a report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, United Rentals presently has a consensus rating of “Moderate Buy” and an average target price of $1,246.19.

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.