Fred Alger Management LLC Has $12.44 Million Stock Position in United Rentals, Inc. $URI

Fred Alger Management LLC lifted its holdings in shares of United Rentals, Inc. (NYSE:URI) by 175.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,852 shares of the construction company’s stock after purchasing an additional 12,642 shares during the quarter. Fred Alger Management LLC’s holdings in United Rentals were worth $12,441,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. TruNorth Capital Management LLC increased its stake in shares of United Rentals by 1,266.7% during the 1st quarter. TruNorth Capital Management LLC now owns 41 shares of the construction company’s stock worth $26,000 after purchasing an additional 38 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new position in shares of United Rentals during the 1st quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of United Rentals by 69.0% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 49 shares of the construction company’s stock worth $31,000 after purchasing an additional 20 shares during the last quarter. Grove Bank & Trust acquired a new position in shares of United Rentals during the 1st quarter worth $36,000. Finally, NBC Securities Inc. bought a new stake in shares of United Rentals during the 1st quarter worth $40,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on URI. Morgan Stanley upped their price objective on shares of United Rentals from $702.00 to $955.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. The Goldman Sachs Group upped their price objective on shares of United Rentals from $770.00 to $850.00 and gave the stock a “buy” rating in a report on Tuesday, May 27th. Barclays upped their price objective on shares of United Rentals from $565.00 to $620.00 and gave the stock an “underweight” rating in a report on Monday, July 21st. KeyCorp upped their price objective on shares of United Rentals from $960.00 to $1,075.00 and gave the stock an “overweight” rating in a report on Friday, August 29th. Finally, Bank of America upped their price objective on shares of United Rentals from $895.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $842.86.

United Rentals Price Performance

Shares of United Rentals stock opened at $969.46 on Tuesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.86 and a quick ratio of 0.80. United Rentals, Inc. has a fifty-two week low of $525.91 and a fifty-two week high of $980.53. The firm has a fifty day moving average price of $873.23 and a two-hundred day moving average price of $731.22. The company has a market cap of $62.38 billion, a PE ratio of 25.07, a price-to-earnings-growth ratio of 2.25 and a beta of 1.72.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, July 23rd. The construction company reported $10.47 earnings per share for the quarter, missing analysts’ consensus estimates of $10.54 by ($0.07). The company had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.90 billion. United Rentals had a net margin of 16.11% and a return on equity of 32.01%. United Rentals’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the company earned $10.70 earnings per share. United Rentals has set its FY 2025 guidance at EPS. Analysts expect that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th were issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, August 13th. United Rentals’s dividend payout ratio (DPR) is presently 18.52%.

About United Rentals

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.