Kingsview Wealth Management LLC Invests $565,000 in United Rentals, Inc. $URI

Kingsview Wealth Management LLC purchased a new position in shares of United Rentals, Inc. (NYSE:URI) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 499 shares of the construction company’s stock, valued at approximately $565,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of United Rentals during the second quarter worth $29,000. MidFirst Bank acquired a new stake in United Rentals during the second quarter valued at $31,000. Core Wealth Advisors LLC purchased a new position in United Rentals in the fourth quarter valued at about $28,000. MV Capital Management Inc. purchased a new position in United Rentals in the fourth quarter valued at about $28,000. Finally, Bell Investment Advisors Inc acquired a new position in United Rentals in the 2nd quarter worth about $40,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Zacks Research raised United Rentals from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Wall Street Zen upgraded United Rentals from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Robert W. Baird set a $1,300.00 price objective on shares of United Rentals in a research report on Friday, July 24th. Truist Financial lifted their target price on shares of United Rentals from $1,421.00 to $1,466.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,246.19.

United Rentals Stock Performance

URI opened at $1,030.64 on Monday. The company has a market cap of $64.15 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 1.33 and a beta of 1.80. The stock has a 50-day moving average of $1,097.31 and a 200-day moving average of $957.73. United Rentals, Inc. has a 52-week low of $701.59 and a 52-week high of $1,179.18. 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 issued its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, beating analysts’ consensus estimates of $11.53 by $1.23. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The business had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same period last year, the business earned $10.47 EPS. The firm’s revenue was up 11.8% compared to the same quarter last year. As a group, equities research analysts forecast that United Rentals, Inc. will post 48.55 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were given a $1.97 dividend. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.8%. United Rentals’s dividend payout ratio (DPR) is currently 18.92%.

Insider Buying and Selling at United Rentals

In other news, EVP William E. Grace sold 1,500 shares of the business’s 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 sale, the executive vice president directly owned 6,062 shares in the company, valued at approximately $6,869,155.30. The trade was a 19.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.47% of the company’s stock.

About United Rentals

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.