Condor Capital Management Boosts Stake in United Rentals, Inc. (NYSE:URI)

Condor Capital Management raised its position in shares of United Rentals, Inc. (NYSE:URI) by 0.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,408 shares of the construction company’s stock after acquiring an additional 61 shares during the period. Condor Capital Management’s holdings in United Rentals were worth $4,643,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in URI. GAMMA Investing LLC grew its position in United Rentals by 77,674.5% during the first quarter. GAMMA Investing LLC now owns 887,407 shares of the construction company’s stock valued at $556,138,000 after acquiring an additional 886,266 shares during the period. Leigh Baldwin & CO. LLC acquired a new stake in shares of United Rentals in the fourth quarter valued at about $330,989,000. Capital World Investors grew its stake in shares of United Rentals by 17.1% in the fourth quarter. Capital World Investors now owns 2,221,228 shares of the construction company’s stock valued at $1,564,722,000 after buying an additional 323,636 shares in the last quarter. Capital International Investors grew its stake in shares of United Rentals by 41.0% in the fourth quarter. Capital International Investors now owns 1,051,365 shares of the construction company’s stock valued at $740,624,000 after buying an additional 305,491 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in shares of United Rentals by 105.6% in the fourth quarter. Marshall Wace LLP now owns 546,165 shares of the construction company’s stock valued at $384,740,000 after buying an additional 280,502 shares in the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Trading Up 0.5%

Shares of NYSE URI opened at $858.99 on Friday. The stock’s 50 day moving average price is $780.39 and its two-hundred day moving average price is $703.98. United Rentals, Inc. has a 52-week low of $525.91 and a 52-week high of $903.60. The stock has a market capitalization of $55.27 billion, a P/E ratio of 22.21, a PEG ratio of 1.97 and a beta of 1.72. The company has a quick ratio of 0.80, a current ratio of 0.86 and a debt-to-equity ratio of 1.34.

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 net margin of 16.11% and a return on equity of 32.01%. The firm had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same quarter in the previous year, the company earned $10.70 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th will be given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Wednesday, August 13th. United Rentals’s dividend payout ratio is presently 18.52%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on URI. Truist Financial boosted their target price on shares of United Rentals from $786.00 to $952.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Robert W. Baird boosted their target price on shares of United Rentals from $535.00 to $571.00 and gave the stock a “neutral” rating in a research report on Friday, April 25th. The Goldman Sachs Group boosted their target price on shares of United Rentals from $770.00 to $850.00 and gave the stock a “buy” rating in a research report on Tuesday, May 27th. Morgan Stanley boosted their target price on shares of United Rentals from $702.00 to $955.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Finally, Barclays increased their price target on United Rentals from $565.00 to $620.00 and gave the company an “underweight” rating in a report on Monday, July 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $830.71.

Insider Buying and Selling at United Rentals

In other news, VP Andrew B. Limoges sold 708 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $705.86, for a total transaction of $499,748.88. Following the sale, the vice president directly owned 1,921 shares in the company, valued at approximately $1,355,957.06. This represents a 26.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.53% of the company’s stock.

United Rentals Company Profile

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.