Envestnet Asset Management Inc. Has $55.15 Million Holdings in United Rentals, Inc. (NYSE:URI)

Envestnet Asset Management Inc. grew its stake in shares of United Rentals, Inc. (NYSE:URI) by 3.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 85,276 shares of the construction company’s stock after purchasing an additional 2,902 shares during the quarter. Envestnet Asset Management Inc.’s holdings in United Rentals were worth $55,151,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Essex Financial Services Inc. lifted its position in United Rentals by 31.9% during the second quarter. Essex Financial Services Inc. now owns 563 shares of the construction company’s stock worth $364,000 after acquiring an additional 136 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in shares of United Rentals in the fourth quarter valued at approximately $780,000. Forsta AP Fonden raised its position in shares of United Rentals by 2.8% in the first quarter. Forsta AP Fonden now owns 14,600 shares of the construction company’s stock valued at $10,528,000 after buying an additional 400 shares in the last quarter. Tidal Investments LLC raised its position in shares of United Rentals by 241.2% in the first quarter. Tidal Investments LLC now owns 4,859 shares of the construction company’s stock valued at $3,504,000 after buying an additional 3,435 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of United Rentals in the fourth quarter valued at approximately $779,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other United Rentals news, SVP Joli L. Gross sold 360 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $690.00, for a total value of $248,400.00. Following the completion of the sale, the senior vice president now directly owns 4,090 shares of the company’s stock, valued at approximately $2,822,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Citigroup assumed coverage on shares of United Rentals in a research report on Wednesday, June 26th. They issued a “buy” rating and a $745.00 price target for the company. JPMorgan Chase & Co. assumed coverage on shares of United Rentals in a research report on Friday, June 7th. They issued an “overweight” rating and a $780.00 price target for the company. Raymond James initiated coverage on shares of United Rentals in a research report on Friday, June 28th. They issued an “outperform” rating and a $750.00 price target for the company. Evercore ISI boosted their price objective on shares of United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Finally, Truist Financial boosted their price objective on shares of United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $675.15.

United Rentals Trading Up 0.3 %

URI opened at $773.29 on Thursday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.81 and a quick ratio of 0.76. United Rentals, Inc. has a fifty-two week low of $387.01 and a fifty-two week high of $801.39. The firm has a market capitalization of $51.49 billion, a PE ratio of 20.95, a P/E/G ratio of 1.72 and a beta of 1.68. The company’s 50-day moving average is $715.08 and its 200 day moving average is $685.31.

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, topping analysts’ consensus estimates of $10.48 by $0.22. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the business posted $9.88 EPS. The firm’s revenue was up 6.2% compared to the same quarter last year. As a group, research analysts predict that United Rentals, Inc. will post 44.39 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date was Wednesday, August 14th. United Rentals’s payout ratio is 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.