Foundry Partners LLC boosted its holdings in shares of United Rentals, Inc. (NYSE:URI – Free Report) by 9.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 47,046 shares of the construction company’s stock after acquiring an additional 4,139 shares during the quarter. United Rentals makes up approximately 1.3% of Foundry Partners LLC’s portfolio, making the stock its 14th largest holding. Foundry Partners LLC owned 0.07% of United Rentals worth $20,953,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. MUFG Americas Holdings Corp raised its holdings in United Rentals by 1,900.0% during the third quarter. MUFG Americas Holdings Corp now owns 100 shares of the construction company’s stock valued at $27,000 after buying an additional 95 shares in the last quarter. Eagle Bay Advisors LLC bought a new position in shares of United Rentals in the 2nd quarter valued at approximately $27,000. IAG Wealth Partners LLC acquired a new stake in United Rentals in the 1st quarter worth approximately $30,000. WealthPLAN Partners LLC bought a new stake in United Rentals during the first quarter worth approximately $32,000. Finally, Brown Brothers Harriman & Co. grew its holdings in United Rentals by 138.2% during the first quarter. Brown Brothers Harriman & Co. now owns 81 shares of the construction company’s stock valued at $32,000 after purchasing an additional 47 shares during the last quarter. Institutional investors own 89.03% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on URI shares. Robert W. Baird boosted their price objective on shares of United Rentals from $300.00 to $320.00 and gave the stock an “underperform” rating in a research note on Thursday, July 27th. Citigroup upped their price target on shares of United Rentals from $450.00 to $515.00 and gave the company a “buy” rating in a report on Tuesday, July 18th. KeyCorp raised their price target on United Rentals from $520.00 to $525.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. Credit Suisse Group boosted their price objective on United Rentals from $482.00 to $521.00 in a research report on Friday, July 28th. Finally, UBS Group raised their target price on United Rentals from $458.00 to $527.00 in a report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $455.25.
United Rentals Stock Up 0.4 %
Shares of URI opened at $453.62 on Tuesday. The business’s 50 day simple moving average is $462.86 and its 200-day simple moving average is $411.85. United Rentals, Inc. has a one year low of $256.23 and a one year high of $492.33. The company has a market capitalization of $30.97 billion, a P/E ratio of 13.80, a PEG ratio of 0.69 and a beta of 1.88. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.74 and a quick ratio of 0.69.
United Rentals (NYSE:URI – Get Free Report) last announced its earnings results on Wednesday, July 26th. The construction company reported $9.88 EPS for the quarter, topping the consensus estimate of $9.23 by $0.65. United Rentals had a return on equity of 36.67% and a net margin of 17.34%. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter in the prior year, the business earned $7.86 earnings per share. The business’s revenue for the quarter was up 28.3% on a year-over-year basis. As a group, sell-side analysts predict that United Rentals, Inc. will post 40.6 EPS for the current fiscal year.
United Rentals Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th were given a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.31%. The ex-dividend date was Tuesday, August 8th. United Rentals’s payout ratio is presently 18.02%.
Insiders Place Their Bets
In other news, COO Dale A. Asplund sold 14,157 shares of the stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 6,379 shares of the company’s stock, valued at $3,031,747.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.46% of the company’s stock.
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.
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