Redwood Grove Capital LLC Makes New Investment in United Rentals, Inc. $URI

Redwood Grove Capital LLC purchased a new stake in United Rentals, Inc. (NYSE:URI) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 2,249 shares of the construction company’s stock, valued at approximately $2,548,000. United Rentals makes up 0.6% of Redwood Grove Capital LLC’s holdings, making the stock its 24th biggest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in URI. PFG Investments LLC boosted its stake in United Rentals by 0.9% in the 1st quarter. PFG Investments LLC now owns 1,172 shares of the construction company’s stock worth $854,000 after purchasing an additional 11 shares during the period. CoreCap Advisors LLC boosted its position in shares of United Rentals by 16.9% during the second quarter. CoreCap Advisors LLC now owns 76 shares of the construction company’s stock worth $86,000 after buying an additional 11 shares during the period. Great Valley Advisor Group Inc. grew its holdings in shares of United Rentals by 2.9% during the second quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock worth $292,000 after buying an additional 11 shares in the last quarter. Legacy Financial Advisors Inc. raised its position in United Rentals by 3.9% in the 4th quarter. Legacy Financial Advisors Inc. now owns 322 shares of the construction company’s stock valued at $260,000 after buying an additional 12 shares during the last quarter. Finally, Moss Adams Wealth Advisors LLC raised its position in United Rentals by 2.0% in the 1st quarter. Moss Adams Wealth Advisors LLC now owns 605 shares of the construction company’s stock valued at $441,000 after buying an additional 12 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at United Rentals

In related news, EVP William E. Grace sold 1,500 shares of United Rentals stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the completion of the sale, the executive vice president directly owned 6,062 shares of the company’s stock, valued at approximately $6,869,155.30. This trade represents a 19.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.47% of the company’s stock.

United Rentals Stock Performance

Shares of URI stock opened at $1,052.07 on Wednesday. United Rentals, Inc. has a 52 week low of $701.59 and a 52 week high of $1,179.18. The company has a market capitalization of $65.48 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 1.40 and a beta of 1.80. The company has a 50-day simple moving average of $1,098.88 and a 200 day simple moving average of $954.20. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.70 and a current ratio of 0.76.

United Rentals (NYSE:URI) last released its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, beating the consensus estimate of $11.53 by $1.23. The firm had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.22 billion. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The business’s revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm earned $10.47 EPS. On average, sell-side analysts predict that United Rentals, Inc. will post 48.55 earnings per share for the current year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be paid a dividend of $1.97 per share. The ex-dividend date is Wednesday, August 12th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. United Rentals’s dividend payout ratio (DPR) is 18.92%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on URI shares. Weiss Ratings raised United Rentals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 23rd. Wall Street Zen upgraded shares of United Rentals from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Raymond James Financial reissued an “outperform” rating and issued a $1,275.00 price objective on shares of United Rentals in a research report on Wednesday, June 10th. Zacks Research upgraded shares of United Rentals from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Finally, Morgan Stanley set a $1,335.00 target price on shares of United Rentals and gave the company an “overweight” rating in a research report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,246.19.

United Rentals Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.