Glenview Trust Co Invests $17.97 Million in United Rentals, Inc. $URI

Glenview Trust Co bought a new position in shares of United Rentals, Inc. (NYSE:URI) during the second quarter, Holdings Channel.com reports. The fund bought 15,859 shares of the construction company’s stock, valued at approximately $17,967,000.

A number of other large investors have also recently made changes to their positions in URI. BlackRock Inc. acquired a new position in United Rentals during the 2nd quarter worth approximately $5,816,326,000. Norges Bank acquired a new stake in shares of United Rentals in the 4th quarter valued at $978,017,000. Bank of America Corp DE acquired a new stake in shares of United Rentals in the 2nd quarter valued at $944,196,000. The Manufacturers Life Insurance Company purchased a new stake in shares of United Rentals during the 2nd quarter worth $716,129,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of United Rentals during the 2nd quarter worth $412,860,000. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of United Rentals from $1,100.00 to $1,235.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. KeyCorp restated an “overweight” rating and issued a $1,350.00 price target on shares of United Rentals in a research note on Friday, July 24th. Zacks Research raised United Rentals from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Truist Financial upped their price objective on United Rentals from $1,421.00 to $1,466.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, Robert W. Baird set a $1,300.00 price objective on United Rentals in a report on Friday, July 24th. One equities research 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,246.19.

Insider Buying and Selling at United Rentals

In other news, EVP William E. Grace sold 1,500 shares of the business’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the completion of the sale, the executive vice president directly owned 6,062 shares of the company’s stock, valued at approximately $6,869,155.30. The trade was a 19.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.47% of the company’s stock.

United Rentals Trading Down 1.8%

NYSE URI opened at $1,038.12 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.70. The firm’s fifty day moving average price is $1,098.25 and its 200 day moving average price is $956.65. The company has a market capitalization of $64.61 billion, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 1.36 and a beta of 1.80. United Rentals, Inc. has a 12 month low of $701.59 and a 12 month high of $1,179.18.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share 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 period in the previous year, the company earned $10.47 earnings per share. United Rentals’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, 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 company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were given a dividend of $1.97 per share. The ex-dividend date was Wednesday, August 12th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.8%. United Rentals’s payout ratio is 18.92%.

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.