SG Americas Securities LLC grew its position in United Rentals, Inc. (NYSE:URI – Free Report) by 499.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,119 shares of the construction company’s stock after purchasing an additional 15,930 shares during the quarter. SG Americas Securities LLC’s holdings in United Rentals were worth $8,515,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of United Rentals by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 8,179,328 shares of the construction company’s stock worth $2,905,379,000 after acquiring an additional 186,931 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in United Rentals by 2,080.7% during the first quarter. Envestnet Asset Management Inc. now owns 1,850,311 shares of the construction company’s stock worth $36,081,000 after purchasing an additional 1,765,460 shares during the last quarter. Morgan Stanley lifted its stake in United Rentals by 10.8% during the fourth quarter. Morgan Stanley now owns 1,756,009 shares of the construction company’s stock worth $624,121,000 after purchasing an additional 170,958 shares during the last quarter. Norges Bank purchased a new position in United Rentals in the fourth quarter valued at approximately $586,415,000. Finally, Geode Capital Management LLC increased its stake in United Rentals by 2.8% in the first quarter. Geode Capital Management LLC now owns 1,441,997 shares of the construction company’s stock valued at $569,394,000 after purchasing an additional 39,917 shares during the last quarter. 89.03% of the stock is owned by hedge funds and other institutional investors.
United Rentals Stock Performance
Shares of URI opened at $452.01 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 1.42. United Rentals, Inc. has a 52-week low of $256.23 and a 52-week high of $492.33. The company has a 50-day simple moving average of $462.69 and a 200-day simple moving average of $412.75. The company has a market capitalization of $30.86 billion, a PE ratio of 13.76, a P/E/G ratio of 0.70 and a beta of 1.88.
United Rentals Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th were given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Tuesday, August 8th. United Rentals’s dividend payout ratio is currently 18.02%.
Insider Transactions at United Rentals
In other United Rentals news, COO Dale A. Asplund sold 14,157 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $475.27, for a total transaction of $6,728,397.39. Following the completion of the transaction, the chief operating officer now directly owns 6,379 shares in the company, valued at approximately $3,031,747.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.53% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have recently issued reports on the stock. Credit Suisse Group upped their target price on shares of United Rentals from $482.00 to $521.00 in a report on Friday, July 28th. Barclays lifted their target price on United Rentals from $315.00 to $325.00 and gave the stock an “underweight” rating in a research report on Monday, July 31st. Robert W. Baird upped their target price on United Rentals from $300.00 to $320.00 and gave the company an “underperform” rating in a research report on Thursday, July 27th. Citigroup lifted their price target on United Rentals from $450.00 to $515.00 and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Finally, Wells Fargo & Company increased their price objective on United Rentals from $490.00 to $495.00 in a report on Friday, July 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $455.25.
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.
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