Bridges Investment Management Inc. Buys Shares of 25,080 United Rentals, Inc. (NYSE:URI)

Bridges Investment Management Inc. purchased a new stake in United Rentals, Inc. (NYSE:URI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 25,080 shares of the construction company’s stock, valued at approximately $16,220,000.

Several other institutional investors and hedge funds also recently made changes to their positions in URI. Precision Wealth Strategies LLC acquired a new stake in shares of United Rentals in the fourth quarter valued at about $227,000. Gryphon Financial Partners LLC acquired a new stake in shares of United Rentals in the fourth quarter valued at about $281,000. D.A. Davidson & CO. increased its stake in shares of United Rentals by 3.0% in the fourth quarter. D.A. Davidson & CO. now owns 7,015 shares of the construction company’s stock valued at $4,023,000 after buying an additional 202 shares during the period. Franklin Resources Inc. increased its stake in shares of United Rentals by 7.1% in the fourth quarter. Franklin Resources Inc. now owns 83,344 shares of the construction company’s stock valued at $47,791,000 after buying an additional 5,526 shares during the period. Finally, Dai ichi Life Insurance Company Ltd increased its stake in shares of United Rentals by 32.5% in the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 8,754 shares of the construction company’s stock valued at $5,020,000 after buying an additional 2,147 shares during the period. Institutional investors and hedge funds own 96.26% of the company’s stock.

Wall Street Analysts Forecast Growth

URI has been the subject of several recent analyst reports. JPMorgan Chase & Co. initiated coverage on United Rentals in a research note on Friday, June 7th. They set an “overweight” rating and a $780.00 target price for the company. The Goldman Sachs Group raised their target price on United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Truist Financial raised their target price on United Rentals from $785.00 to $873.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Raymond James initiated coverage on United Rentals in a research note on Friday, June 28th. They set an “outperform” rating and a $750.00 target price for the company. Finally, Citigroup initiated coverage on United Rentals in a research note on Wednesday, June 26th. They set a “buy” rating and a $745.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $675.15.

Insider Activity

In other news, SVP Joli L. Gross sold 360 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $690.00, for a total value of $248,400.00. Following the transaction, the senior vice president now owns 4,090 shares in the company, valued at $2,822,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.53% of the company’s stock.

United Rentals Trading Up 2.6 %

Shares of United Rentals stock opened at $793.61 on Friday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 0.81. United Rentals, Inc. has a 52 week low of $387.01 and a 52 week high of $801.39. The stock has a 50 day moving average price of $717.64 and a two-hundred day moving average price of $685.92. The stock has a market capitalization of $52.85 billion, a PE ratio of 21.50, a price-to-earnings-growth ratio of 1.72 and a beta of 1.68.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share for the quarter, beating analysts’ consensus estimates of $10.48 by $0.22. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter last year, the company earned $9.88 earnings per share. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities analysts anticipate that United Rentals, Inc. will post 44.39 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were issued a $1.63 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.82%. United Rentals’s dividend payout ratio is presently 17.66%.

United Rentals Company Profile

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.