Patten Group Inc. Invests $951,000 in United Rentals, Inc. $URI

Patten Group Inc. bought a new position in shares of United Rentals, Inc. (NYSE:URI) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,262 shares of the construction company’s stock, valued at approximately $951,000.

A number of other large investors have also modified their holdings of URI. Fourth Dimension Wealth LLC purchased a new stake in shares of United Rentals during the first quarter worth $26,000. TruNorth Capital Management LLC grew its holdings in shares of United Rentals by 1,266.7% during the first quarter. TruNorth Capital Management LLC now owns 41 shares of the construction company’s stock worth $26,000 after buying an additional 38 shares in the last quarter. Flaharty Asset Management LLC purchased a new stake in shares of United Rentals during the first quarter worth $30,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of United Rentals by 69.0% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 49 shares of the construction company’s stock worth $31,000 after buying an additional 20 shares in the last quarter. Finally, Maseco LLP purchased a new stake in shares of United Rentals during the second quarter worth $32,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Trading Down 1.3%

Shares of URI stock opened at $989.61 on Thursday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.86 and a quick ratio of 0.80. The firm has a market cap of $63.67 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 2.31 and a beta of 1.73. The company has a 50-day moving average of $956.38 and a two-hundred day moving average of $805.28. United Rentals, Inc. has a 1-year low of $525.91 and a 1-year high of $1,021.47.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, October 22nd. The construction company reported $11.70 earnings per share for the quarter, missing the consensus estimate of $12.43 by ($0.73). United Rentals had a return on equity of 32.01% and a net margin of 16.11%.United Rentals’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $11.80 EPS. United Rentals has set its FY 2025 guidance at EPS. On average, analysts predict that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th will be paid a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, November 12th. United Rentals’s dividend payout ratio (DPR) is 18.52%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada assumed coverage on shares of United Rentals in a report on Wednesday. They set an “outperform” rating and a $1,152.00 target price for the company. Argus set a $935.00 price objective on shares of United Rentals in a report on Tuesday, August 12th. UBS Group raised their price objective on shares of United Rentals from $780.00 to $835.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Barclays cut their price objective on shares of United Rentals from $620.00 to $600.00 and set an “underweight” rating for the company in a research report on Monday. Finally, Truist Financial raised their price objective on shares of United Rentals from $952.00 to $1,194.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $966.47.

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.