United Rentals, Inc. (NYSE:URI) Shares Bought by Raymond James & Associates

Raymond James & Associates grew its position in United Rentals, Inc. (NYSE:URI) by 12.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 121,975 shares of the construction company’s stock after acquiring an additional 13,373 shares during the quarter. Raymond James & Associates’ holdings in United Rentals were worth $98,767,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Capital International Investors acquired a new position in United Rentals in the 1st quarter valued at about $332,349,000. AMF Tjanstepension AB increased its holdings in shares of United Rentals by 77.7% in the second quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock valued at $295,626,000 after purchasing an additional 199,810 shares during the period. Marshall Wace LLP increased its holdings in shares of United Rentals by 259.3% in the second quarter. Marshall Wace LLP now owns 150,152 shares of the construction company’s stock valued at $97,108,000 after purchasing an additional 108,360 shares during the period. AGF Management Ltd. raised its stake in shares of United Rentals by 4,778.7% during the second quarter. AGF Management Ltd. now owns 103,672 shares of the construction company’s stock worth $67,048,000 after purchasing an additional 101,547 shares during the last quarter. Finally, Heritage Wealth Advisors lifted its holdings in shares of United Rentals by 15,100.8% during the first quarter. Heritage Wealth Advisors now owns 100,781 shares of the construction company’s stock worth $72,674,000 after purchasing an additional 100,118 shares during the period. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Truist Financial upped their price objective on shares of United Rentals from $873.00 to $954.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Robert W. Baird increased their price target on shares of United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. lifted their price objective on United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Raymond James assumed 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 lifted their price target on United Rentals from $860.00 to $930.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, United Rentals presently has an average rating of “Hold” and a consensus price target of $714.92.

Insider Activity

In related news, SVP Joli L. Gross sold 360 shares of United Rentals stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $690.00, for a total transaction of $248,400.00. Following the completion of the sale, the senior vice president now owns 4,090 shares in the company, valued at approximately $2,822,100. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.53% of the company’s stock.

United Rentals Price Performance

United Rentals stock opened at $839.27 on Monday. The firm has a market capitalization of $55.51 billion, a PE ratio of 22.16, a P/E/G ratio of 1.94 and a beta of 1.68. United Rentals, Inc. has a 52 week low of $387.01 and a 52 week high of $861.74. The firm’s 50-day simple moving average is $760.25 and its 200 day simple moving average is $703.75. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.39.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, July 24th. The construction company reported $10.70 EPS for the quarter, beating the consensus estimate of $10.48 by $0.22. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period in the prior year, the business earned $9.88 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. On average, equities research analysts predict that United Rentals, Inc. will post 44.38 EPS for the current fiscal year.

United Rentals Announces Dividend

The business also recently declared 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 was Wednesday, August 14th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.78%. United Rentals’s dividend payout ratio (DPR) is 17.21%.

United Rentals 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.