Legacy Capital Wealth Partners LLC Buys New Position in United Rentals, Inc. (NYSE:URI)

Legacy Capital Wealth Partners LLC bought a new stake in shares of United Rentals, Inc. (NYSE:URI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 359 shares of the construction company’s stock, valued at approximately $232,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Research Global Investors raised its holdings in United Rentals by 39.1% during the fourth quarter. Capital Research Global Investors now owns 6,399,808 shares of the construction company’s stock worth $3,669,806,000 after purchasing an additional 1,799,997 shares in the last quarter. Norges Bank acquired a new position in shares of United Rentals during the 4th quarter valued at $977,443,000. Dimensional Fund Advisors LP raised its stake in shares of United Rentals by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,246,092 shares of the construction company’s stock worth $714,578,000 after buying an additional 56,948 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of United Rentals by 1.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 650,387 shares of the construction company’s stock valued at $372,945,000 after buying an additional 11,429 shares during the period. Finally, Capital International Investors bought a new position in United Rentals during the first quarter valued at about $332,349,000. 96.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

United Rentals Stock Down 0.2 %

NYSE:URI opened at $700.57 on Thursday. The business’s fifty day moving average price is $701.55 and its 200 day moving average price is $682.22. The firm has a market capitalization of $46.34 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 1.71 and a beta of 1.68. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39. United Rentals, Inc. has a 1-year low of $387.01 and a 1-year high of $789.80.

United Rentals (NYSE:URI) last issued 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. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.77 billion. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.88 EPS. On average, sell-side analysts forecast that United Rentals, Inc. will post 44.5 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. Shareholders of record on Wednesday, August 14th were given 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 yield of 0.93%. United Rentals’s payout ratio is 17.66%.

Insider Buying and Selling at United Rentals

In related news, SVP Joli L. Gross sold 360 shares of the stock in a transaction on 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 directly owns 4,090 shares in the company, valued at $2,822,100. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.53% 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.