659 Shares in United Rentals, Inc. $URI Bought by Palisade Capital Management LP

Palisade Capital Management LP bought a new position in shares of United Rentals, Inc. (NYSE:URI) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 659 shares of the construction company’s stock, valued at approximately $747,000.

Other hedge funds also recently bought and sold shares of the company. Core Wealth Advisors LLC bought a new position in shares of United Rentals in the fourth quarter worth about $28,000. MV Capital Management Inc. bought a new stake in United Rentals during the 4th quarter valued at approximately $28,000. Clal Insurance Enterprises Holdings Ltd acquired a new stake in United Rentals in the 2nd quarter valued at approximately $29,000. MidFirst Bank bought a new position in United Rentals in the 2nd quarter worth approximately $31,000. Finally, Laurel Wealth Advisors LLC bought a new position in United Rentals in the 4th quarter worth approximately $32,000. 96.26% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP William E. Grace sold 1,500 shares of the stock in a transaction on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the completion of the transaction, the executive vice president owned 6,062 shares in the company, valued at approximately $6,869,155.30. This represents a 19.84% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company’s stock.

United Rentals Price Performance

Shares of URI stock opened at $1,058.50 on Thursday. United Rentals, Inc. has a 12 month low of $701.59 and a 12 month high of $1,179.18. The company has a market capitalization of $65.88 billion, a P/E ratio of 25.42, a P/E/G ratio of 1.36 and a beta of 1.80. The stock has a 50 day moving average of $1,099.04 and a two-hundred day moving average of $955.68. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38.

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

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were issued a $1.97 dividend. This represents a $7.88 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, August 12th. United Rentals’s payout ratio is 18.92%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on URI shares. Argus reissued a “buy” rating and issued a $1,250.00 price objective on shares of United Rentals in a research report on Tuesday, August 4th. Bank of America boosted their target price on shares of United Rentals from $1,195.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Evercore reiterated an “outperform” rating and set a $1,101.00 target price on shares of United Rentals in a research note on Monday, May 11th. UBS Group increased their price target on shares of United Rentals from $1,300.00 to $1,350.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Finally, Barclays raised their price target on shares of United Rentals from $715.00 to $950.00 and gave the stock an “underweight” rating in a research report on Friday, July 24th. One 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.