Nuveen LLC Purchases Shares of 641,920 United Rentals, Inc. (NYSE:URI)

Nuveen LLC purchased a new stake in shares of United Rentals, Inc. (NYSE:URI) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 641,920 shares of the construction company’s stock, valued at approximately $402,291,000. Nuveen LLC owned approximately 0.99% of United Rentals as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in United Rentals by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 7,422,036 shares of the construction company’s stock valued at $4,651,390,000 after purchasing an additional 29,501 shares in the last quarter. Capital World Investors boosted its stake in United Rentals by 17.1% during the 4th quarter. Capital World Investors now owns 2,221,228 shares of the construction company’s stock valued at $1,564,722,000 after purchasing an additional 323,636 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of United Rentals by 98.1% during the 1st quarter. JPMorgan Chase & Co. now owns 1,093,805 shares of the construction company’s stock valued at $685,488,000 after acquiring an additional 541,579 shares during the last quarter. Capital International Investors lifted its position in shares of United Rentals by 41.0% during the 4th quarter. Capital International Investors now owns 1,051,365 shares of the construction company’s stock valued at $740,624,000 after acquiring an additional 305,491 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of United Rentals by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 914,014 shares of the construction company’s stock valued at $643,896,000 after acquiring an additional 11,529 shares during the last quarter. 96.26% of the stock is owned by institutional investors.

United Rentals Price Performance

Shares of NYSE:URI opened at $858.99 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.80 and a debt-to-equity ratio of 1.34. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year high of $903.60. The business has a fifty day simple moving average of $780.39 and a 200 day simple moving average of $702.84. The firm has a market cap of $55.27 billion, a price-to-earnings ratio of 22.21, a P/E/G ratio of 1.98 and a beta of 1.72.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, July 23rd. The construction company reported $10.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.54 by ($0.07). United Rentals had a return on equity of 32.01% and a net margin of 16.11%. The firm had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter in the prior year, the business posted $10.70 earnings per share. United Rentals’s revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts predict that United Rentals, Inc. will post 44.8 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 27th. Investors of record on Wednesday, August 13th will be issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Wednesday, August 13th. United Rentals’s dividend payout ratio (DPR) is currently 18.52%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on URI shares. Evercore ISI cut their price objective on United Rentals from $974.00 to $921.00 and set an “outperform” rating for the company in a research report on Monday, May 19th. Redburn Atlantic downgraded United Rentals from a “buy” rating to a “neutral” rating and set a $760.00 price objective for the company. in a research report on Friday, June 13th. Truist Financial increased their price objective on United Rentals from $786.00 to $952.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Bank of America increased their price objective on United Rentals from $895.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Finally, The Goldman Sachs Group increased their price objective on United Rentals from $770.00 to $850.00 and gave the company a “buy” rating in a research report on Tuesday, May 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, United Rentals presently has an average rating of “Moderate Buy” and a consensus target price of $830.71.

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.