Palisade Capital Management LP Acquires Shares of 659 United Rentals, Inc. $URI

Palisade Capital Management LP purchased a new stake in United Rentals, Inc. (NYSE:URI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 659 shares of the construction company’s stock, valued at approximately $747,000.

Other large investors also recently bought and sold shares of the company. Canada Pension Plan Investment Board acquired a new position in United Rentals in the second quarter worth $102,841,000. Legal & General Group Plc acquired a new position in United Rentals during the second quarter worth about $411,896,000. The Manufacturers Life Insurance Company acquired a new stake in shares of United Rentals during the 2nd quarter valued at $716,129,000. Fiduciary Financial Advisors purchased a new stake in United Rentals during the second quarter valued at about $199,000. Finally, L2 Asset Management LLC acquired a new position in United Rentals in the 2nd quarter worth approximately $404,000. Institutional investors own 96.26% of the company’s stock.

United Rentals Stock Up 0.5%

URI opened at $1,058.50 on Thursday. The company has a market capitalization of $65.88 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 1.36 and a beta of 1.80. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.70. United Rentals, Inc. has a fifty-two week low of $701.59 and a fifty-two week high of $1,179.18. The business has a 50-day moving average of $1,099.04 and a 200-day moving average of $955.68.

United Rentals (NYSE:URI) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $4.22 billion. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The firm’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $10.47 earnings per share. Equities research analysts forecast that United Rentals, Inc. will post 48.55 EPS for the current fiscal year.

United Rentals Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, August 12th. United Rentals’s payout ratio is currently 18.92%.

Wall Street Analyst Weigh In

Several research firms have weighed in on URI. Wall Street Zen raised United Rentals from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Zacks Research raised shares of United Rentals from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Robert W. Baird set a $1,300.00 price target on shares of United Rentals in a report on Friday, July 24th. UBS Group boosted their price objective on shares of United Rentals from $1,300.00 to $1,350.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of United Rentals from $1,100.00 to $1,235.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,246.19.

Insider Activity at United Rentals

In other news, EVP William E. Grace sold 1,500 shares of the firm’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the transaction, the executive vice president owned 6,062 shares in the company, valued at approximately $6,869,155.30. This trade represents a 19.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.47% of the stock is currently owned by company 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.