UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 74,008 Shares of United Rentals, Inc. $URI

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of United Rentals, Inc. (NYSE:URI) by 15.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 539,121 shares of the construction company’s stock after acquiring an additional 74,008 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in United Rentals were worth $610,765,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Wellington Management Group LLP acquired a new position in shares of United Rentals in the second quarter valued at $806,796,000. BlackRock Inc. acquired a new stake in shares of United Rentals during the 2nd quarter worth about $5,816,326,000. Capital World Investors lifted its stake in shares of United Rentals by 1.1% during the 4th quarter. Capital World Investors now owns 2,708,877 shares of the construction company’s stock worth $2,192,357,000 after buying an additional 30,263 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of United Rentals by 2.2% during the 4th quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company’s stock worth $1,087,711,000 after buying an additional 28,895 shares during the period. Finally, Norges Bank acquired a new position in United Rentals in the 4th quarter valued at about $978,017,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Truist Financial increased their price target on shares of United Rentals from $1,421.00 to $1,466.00 and gave the company a “buy” rating in a report on Friday, July 24th. BNP Paribas Exane upgraded United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price objective for the company in a report on Monday, June 29th. Evercore reiterated an “outperform” rating and set a $1,101.00 target price on shares of United Rentals in a research note on Monday, May 11th. Barclays upped their price objective on United Rentals from $715.00 to $950.00 and gave the company an “underweight” rating in a report 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 investment 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 company. According to MarketBeat, United Rentals presently has an average rating of “Moderate Buy” and an average target price of $1,246.19.

Insider Activity

In related news, EVP William E. Grace sold 1,500 shares of the stock in a transaction that occurred 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 sale, 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 legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.47% of the company’s stock.

United Rentals Stock Up 0.0%

URI stock opened at $1,030.64 on Monday. The company has a market cap of $64.15 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 1.33 and a beta of 1.80. The business has a 50-day simple moving average of $1,097.31 and a 200 day simple moving average of $957.73. United Rentals, Inc. has a 52 week low of $701.59 and a 52 week high of $1,179.18. 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 posted its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, topping the consensus estimate of $11.53 by $1.23. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The business had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter in the prior year, the business posted $10.47 earnings per share. United Rentals’s revenue was up 11.8% compared to the same quarter last year. Sell-side analysts anticipate that United Rentals, Inc. will post 48.55 EPS for the current fiscal year.

United Rentals Announces Dividend

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

About United Rentals

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.