Equitable Holdings Inc. Acquires New Position in United Rentals, Inc. $URI

Equitable Holdings Inc. purchased a new position in shares of United Rentals, Inc. (NYSE:URI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,814 shares of the construction company’s stock, valued at approximately $6,587,000.

Several other hedge funds have also made changes to their positions in the business. Woodline Partners LP boosted its stake in United Rentals by 40.0% in the 1st quarter. Woodline Partners LP now owns 5,518 shares of the construction company’s stock worth $3,458,000 after buying an additional 1,577 shares during the last quarter. Sei Investments Co. increased its stake in shares of United Rentals by 24.7% during the 2nd quarter. Sei Investments Co. now owns 27,136 shares of the construction company’s stock valued at $20,444,000 after acquiring an additional 5,375 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in shares of United Rentals by 43.6% during the 2nd quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company’s stock valued at $42,233,000 after acquiring an additional 17,030 shares during the last quarter. HUB Investment Partners LLC lifted its holdings in shares of United Rentals by 11.3% during the 2nd quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company’s stock worth $1,661,000 after acquiring an additional 223 shares during the period. Finally, Diversify Advisory Services LLC lifted its holdings in shares of United Rentals by 338.7% during the 2nd quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company’s stock worth $1,246,000 after acquiring an additional 1,277 shares during the period. Institutional investors and hedge funds own 96.26% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Evercore restated an “outperform” rating and set a $1,101.00 price objective on shares of United Rentals in a report on Monday, May 11th. Robert W. Baird set a $1,300.00 target price on United Rentals in a report on Friday, July 24th. Citigroup boosted their price target on United Rentals from $1,270.00 to $1,330.00 and gave the company a “buy” rating in a research report on Friday, July 24th. UBS Group upped their price target on United Rentals from $1,300.00 to $1,350.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Finally, Zacks Research upgraded United Rentals from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, United Rentals currently has an average rating of “Moderate Buy” and a consensus target price of $1,246.19.

Insider Transactions at United Rentals

In related news, EVP William E. Grace sold 1,500 shares of the company’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 sale, the executive vice president directly owned 6,062 shares of the company’s stock, valued at $6,869,155.30. This represents 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. 0.47% of the stock is owned by corporate insiders.

United Rentals Price Performance

Shares of NYSE URI opened at $1,038.12 on Friday. 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 price of $1,098.25 and a two-hundred day moving average price of $956.65. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38. The firm has a market cap of $64.61 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 1.36 and a beta of 1.80.

United Rentals (NYSE:URI) last announced its 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. The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.United Rentals’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $10.47 EPS. Sell-side analysts expect that United Rentals, Inc. will post 48.55 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were paid a $1.97 dividend. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Wednesday, August 12th. United Rentals’s payout ratio is 18.92%.

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.