Flputnam Investment Management Co. Invests $7.96 Million in United Rentals, Inc. $URI

Flputnam Investment Management Co. purchased a new stake in shares of United Rentals, Inc. (NYSE:URI) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 7,030 shares of the construction company’s stock, valued at approximately $7,964,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in URI. Woodline Partners LP lifted its stake in United Rentals by 40.0% in the first quarter. Woodline Partners LP now owns 5,518 shares of the construction company’s stock worth $3,458,000 after acquiring an additional 1,577 shares during the period. Sei Investments Co. increased its position in United Rentals by 24.7% during the 2nd quarter. Sei Investments Co. now owns 27,136 shares of the construction company’s stock valued at $20,444,000 after purchasing an additional 5,375 shares during the period. Treasurer of the State of North Carolina increased its position in United Rentals by 43.6% during the 2nd quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company’s stock valued at $42,233,000 after purchasing an additional 17,030 shares during the period. HUB Investment Partners LLC raised its holdings in shares of United Rentals by 11.3% in the 2nd quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company’s stock valued at $1,661,000 after purchasing an additional 223 shares in the last quarter. Finally, Diversify Advisory Services LLC raised its holdings in shares of United Rentals by 338.7% in the 2nd quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company’s stock valued at $1,246,000 after purchasing an additional 1,277 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors.

Insider Transactions at United Rentals

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Barclays increased their price objective on shares of United Rentals from $715.00 to $950.00 and gave the company an “underweight” rating in a research note on Friday, July 24th. Raymond James Financial reissued an “outperform” rating and issued a $1,275.00 price objective on shares of United Rentals in a research note on Wednesday, June 10th. KeyCorp restated an “overweight” rating and set a $1,350.00 target price on shares of United Rentals in a report on Friday, July 24th. Royal Bank Of Canada increased their target price on United Rentals from $1,041.00 to $1,119.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Finally, Evercore reiterated an “outperform” rating and issued a $1,101.00 price target on shares of United Rentals in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,246.19.

United Rentals Price Performance

Shares of URI opened at $1,155.25 on Monday. The company has a 50 day moving average of $1,095.03 and a two-hundred day moving average of $940.62. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38. United Rentals, Inc. has a twelve month low of $701.59 and a twelve month high of $1,179.18. The company has a market cap of $71.90 billion, a price-to-earnings ratio of 27.74, a price-to-earnings-growth ratio of 1.49 and a beta of 1.80.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share (EPS) for the quarter, topping 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 in the prior year, the firm posted $10.47 earnings per share. The business’s quarterly revenue was up 11.8% on a year-over-year basis. As a group, analysts predict that United Rentals, Inc. will post 48.55 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

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

United Rentals Company 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.