EFG International AG Makes New $69.48 Million Investment in United Rentals, Inc. $URI

EFG International AG bought a new stake in United Rentals, Inc. (NYSE:URI) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 61,303 shares of the construction company’s stock, valued at approximately $69,476,000. United Rentals makes up about 1.3% of EFG International AG’s holdings, making the stock its 17th biggest holding.

Other hedge funds have also modified their holdings of the company. Ancora Advisors LLC acquired a new position in United Rentals during the 2nd quarter worth approximately $131,000. Redwood Grove Capital LLC acquired a new stake in United Rentals in the second quarter valued at approximately $2,548,000. Palisade Capital Management LP purchased a new stake in shares of United Rentals during the second quarter valued at approximately $747,000. Canada Pension Plan Investment Board purchased a new stake in shares of United Rentals during the second quarter valued at approximately $102,841,000. Finally, Legal & General Group Plc acquired a new position in shares of United Rentals during the second quarter worth $411,896,000. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

United Rentals Trading Down 2.9%

NYSE URI opened at $1,052.07 on Wednesday. The company has a market capitalization of $65.48 billion, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 1.40 and a beta of 1.80. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.70. United Rentals, Inc. has a 12 month low of $701.59 and a 12 month high of $1,179.18. The company’s fifty day moving average price is $1,098.88 and its two-hundred day moving average price is $954.20.

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

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be 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 is Wednesday, August 12th. United Rentals’s payout ratio is currently 18.92%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Argus reaffirmed a “buy” rating and set a $1,250.00 price target on shares of United Rentals in a report on Tuesday, August 4th. Zacks Research upgraded shares of United Rentals from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Wells Fargo & Company upped their price objective on shares of United Rentals from $1,245.00 to $1,355.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Robert W. Baird set a $1,300.00 target price on United Rentals in a research note on Friday, July 24th. Finally, JPMorgan Chase & Co. lifted their target price on United Rentals from $1,100.00 to $1,235.00 and gave the stock 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 given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,246.19.

Insider Transactions at United Rentals

In other United Rentals news, EVP William E. Grace sold 1,500 shares of the company’s 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 sale, the executive vice president owned 6,062 shares in the company, valued at $6,869,155.30. This represents a 19.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.47% of the stock is owned by insiders.

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.