United Rentals, Inc. (NYSE:URI) Shares Purchased by Northeast Investment Management

Northeast Investment Management raised its stake in United Rentals, Inc. (NYSE:URI) by 4.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,900 shares of the construction company’s stock after purchasing an additional 1,191 shares during the quarter. Northeast Investment Management’s holdings in United Rentals were worth $18,738,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in URI. Rialto Wealth Management LLC acquired a new stake in shares of United Rentals during the 4th quarter worth $25,000. Murphy & Mullick Capital Management Corp purchased a new stake in United Rentals during the fourth quarter valued at about $27,000. Meeder Asset Management Inc. grew its position in United Rentals by 241.7% during the fourth quarter. Meeder Asset Management Inc. now owns 41 shares of the construction company’s stock valued at $29,000 after acquiring an additional 29 shares during the period. Kestra Investment Management LLC acquired a new stake in United Rentals during the fourth quarter worth about $34,000. Finally, OFI Invest Asset Management purchased a new position in United Rentals in the fourth quarter valued at approximately $36,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Stock Performance

Shares of URI opened at $715.79 on Wednesday. The firm has a market cap of $46.53 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 1.43 and a beta of 1.70. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. The business’s 50 day moving average is $653.84 and its two-hundred day moving average is $694.62. United Rentals, Inc. has a 52-week low of $525.91 and a 52-week high of $896.98.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, April 23rd. The construction company reported $8.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.92 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same period in the prior year, the company earned $9.15 earnings per share. The company’s revenue was up 6.7% on a year-over-year basis. Analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were given a dividend of $1.79 per share. The ex-dividend date was Wednesday, May 14th. This represents a $7.16 annualized dividend and a dividend yield of 1.00%. United Rentals’s payout ratio is 18.54%.

Insider Transactions at United Rentals

In other United Rentals news, EVP Michael D. Durand sold 1,100 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $626.28, for a total transaction of $688,908.00. Following the transaction, the executive vice president now owns 8,748 shares of the company’s stock, valued at $5,478,697.44. This trade represents a 11.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Andrew B. Limoges sold 708 shares of United Rentals stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $705.86, for a total value of $499,748.88. Following the completion of the transaction, the vice president now owns 1,921 shares of the company’s stock, valued at approximately $1,355,957.06. The trade was a 26.93% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on URI shares. The Goldman Sachs Group lifted their target price on shares of United Rentals from $770.00 to $850.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. Robert W. Baird upped their target price on United Rentals from $535.00 to $571.00 and gave the stock a “neutral” rating in a research report on Friday, April 25th. UBS Group upgraded United Rentals from a “sell” rating to a “neutral” rating and increased their target price for the company from $485.00 to $780.00 in a research note on Friday, May 16th. Truist Financial boosted their price target on United Rentals from $732.00 to $786.00 and gave the stock a “buy” rating in a research report on Friday, April 25th. Finally, Morgan Stanley upgraded United Rentals from an “equal weight” rating to an “overweight” rating and set a $702.00 price target for the company in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, United Rentals presently has a consensus rating of “Moderate Buy” and an average price target of $753.15.

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.