Redwood Grove Capital LLC Buys New Shares in United Rentals, Inc. $URI

Redwood Grove Capital LLC purchased a new position in United Rentals, Inc. (NYSE:URI) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,249 shares of the construction company’s stock, valued at approximately $2,548,000. United Rentals comprises 0.6% of Redwood Grove Capital LLC’s investment portfolio, making the stock its 24th largest position.

A number of other large investors have also made changes to their positions in URI. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of United Rentals in the 2nd quarter worth approximately $29,000. MidFirst Bank acquired a new stake in United Rentals during the second quarter worth $31,000. Core Wealth Advisors LLC bought a new stake in United Rentals in the 4th quarter valued at $28,000. MV Capital Management Inc. acquired a new position in shares of United Rentals in the 4th quarter valued at $28,000. Finally, Bell Investment Advisors Inc bought a new position in shares of United Rentals during the 2nd quarter worth about $40,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insider Buying and Selling

In other United Rentals news, EVP William E. Grace sold 1,500 shares of United Rentals stock in a transaction dated Friday, July 24th. The stock was 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 directly owned 6,062 shares in the company, valued at approximately $6,869,155.30. The trade was a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.47% of the company’s stock.

United Rentals Stock Down 2.9%

Shares of NYSE:URI opened at $1,052.07 on Wednesday. The company has a 50 day moving average of $1,098.88 and a 200-day moving average of $954.20. United Rentals, Inc. has a one year low of $701.59 and a one year high of $1,179.18. The stock has a market cap of $65.48 billion, a price-to-earnings ratio of 25.27, a P/E/G ratio of 1.40 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 (NYSE:URI) last issued its quarterly earnings data 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 net margin of 15.67% and a return on equity of 31.72%. The firm had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter in the previous year, the company earned $10.47 earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, sell-side analysts forecast that United Rentals, Inc. will post 48.55 earnings per share for the current year.

United Rentals Dividend Announcement

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

Wall Street Analysts Forecast Growth

URI has been the topic of a number of analyst reports. Wells Fargo & Company upped their target price on shares of United Rentals from $1,245.00 to $1,355.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Morgan Stanley set a $1,335.00 price target on United Rentals and gave the company an “overweight” rating in a research note on Friday, July 24th. Bank of America increased their price objective on United Rentals from $1,195.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Robert W. Baird set a $1,300.00 target price on shares of United Rentals in a research note on Friday, July 24th. Finally, Zacks Research upgraded shares of United Rentals from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,246.19.

United Rentals Company 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.