Addenda Capital Inc. Makes New Investment in United Rentals, Inc. $URI

Addenda Capital Inc. bought a new stake in United Rentals, Inc. (NYSE:URI) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,450 shares of the construction company’s stock, valued at approximately $7,120,000.

Several other hedge funds have also recently added to or reduced their stakes in URI. Argus Investors Counsel Inc. lifted its stake in shares of United Rentals by 1.8% in the 2nd quarter. Argus Investors Counsel Inc. now owns 3,358 shares of the construction company’s stock valued at $2,530,000 after purchasing an additional 60 shares during the period. Patton Albertson Miller Group LLC increased its stake in shares of United Rentals by 1.0% in the 2nd quarter. Patton Albertson Miller Group LLC now owns 12,915 shares of the construction company’s stock valued at $9,730,000 after acquiring an additional 125 shares in the last quarter. Worth Financial Advisory Group LLC lifted its position in shares of United Rentals by 3.7% during the 2nd quarter. Worth Financial Advisory Group LLC now owns 900 shares of the construction company’s stock valued at $678,000 after acquiring an additional 32 shares during the period. RBA Wealth Management LLC grew its holdings in United Rentals by 3.7% in the second quarter. RBA Wealth Management LLC now owns 7,093 shares of the construction company’s stock worth $5,344,000 after purchasing an additional 251 shares during the period. Finally, Eastover Investment Advisors LLC increased its stake in United Rentals by 3.0% in the second quarter. Eastover Investment Advisors LLC now owns 9,573 shares of the construction company’s stock valued at $7,212,000 after purchasing an additional 276 shares in the last quarter. Institutional investors own 96.26% of the company’s stock.

United Rentals Trading Up 1.7%

Shares of United Rentals stock opened at $947.47 on Friday. The firm has a market cap of $60.96 billion, a PE ratio of 24.50, a P/E/G ratio of 2.19 and a beta of 1.72. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year high of $980.53. 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 stock has a fifty day moving average price of $913.99 and a 200-day moving average price of $761.68.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, July 23rd. The construction company reported $10.47 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 during the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter in the previous year, the company posted $10.70 EPS. United Rentals’s revenue for the quarter was up 4.5% on a year-over-year basis. United Rentals has set its FY 2025 guidance at EPS. Equities research analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th were paid a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, August 13th. United Rentals’s dividend payout ratio is currently 18.52%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Barclays increased their price objective on shares of United Rentals from $565.00 to $620.00 and gave the stock an “underweight” rating in a research report on Monday, July 21st. Citigroup increased their price target on United Rentals from $1,000.00 to $1,080.00 and gave the stock a “buy” rating in a report on Tuesday. UBS Group boosted their price objective on United Rentals from $780.00 to $835.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Redburn Atlantic lowered United Rentals from a “buy” rating to a “neutral” rating and set a $760.00 target price on the stock. in a research report on Friday, June 13th. Finally, BNP Paribas set a $900.00 price objective on shares of United Rentals and gave the company a “neutral” rating in a research note on Tuesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $911.06.

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.