Optas LLC Decreases Stock Holdings in United Rentals, Inc. $URI

Optas LLC lowered its stake in shares of United Rentals, Inc. (NYSE:URI) by 1.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,164 shares of the construction company’s stock after selling 19 shares during the quarter. Optas LLC’s holdings in United Rentals were worth $877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nuveen LLC bought a new stake in United Rentals during the first quarter worth about $402,291,000. JPMorgan Chase & Co. boosted its stake in United Rentals by 98.1% during the first quarter. JPMorgan Chase & Co. now owns 1,093,805 shares of the construction company’s stock worth $685,488,000 after acquiring an additional 541,579 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in United Rentals during the second quarter worth about $152,069,000. The Manufacturers Life Insurance Company boosted its stake in United Rentals by 28.8% during the first quarter. The Manufacturers Life Insurance Company now owns 849,786 shares of the construction company’s stock worth $532,561,000 after acquiring an additional 190,007 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in United Rentals by 22.3% during the first quarter. Goldman Sachs Group Inc. now owns 661,251 shares of the construction company’s stock worth $414,406,000 after acquiring an additional 120,449 shares in the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on URI shares. KeyCorp boosted their price objective on shares of United Rentals from $1,075.00 to $1,120.00 and gave the stock an “overweight” rating in a research note on Thursday, September 25th. Barclays boosted their price objective on shares of United Rentals from $565.00 to $620.00 and gave the stock an “underweight” rating in a research note on Monday, July 21st. Argus set a $935.00 target price on shares of United Rentals in a research note on Tuesday, August 12th. Bank of America upped their target price on shares of United Rentals from $895.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Finally, Truist Financial upped their target price on shares of United Rentals from $952.00 to $1,194.00 and gave the stock a “buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, United Rentals currently has a consensus rating of “Moderate Buy” and a consensus target price of $956.13.

United Rentals Trading Up 0.6%

NYSE:URI opened at $994.89 on Thursday. 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 12 month low of $525.91 and a 12 month high of $1,004.92. The company has a market cap of $64.01 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 2.29 and a beta of 1.73. The company has a 50 day simple moving average of $933.80 and a two-hundred day simple moving average of $780.27.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, July 23rd. The construction company reported $10.47 EPS for the quarter, missing analysts’ consensus estimates of $10.54 by ($0.07). United Rentals had a return on equity of 32.01% and a net margin of 16.11%.The company had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.90 billion. During the same period last year, the firm posted $10.70 EPS. The company’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. Research analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th were given a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, August 13th. United Rentals’s payout ratio is 18.52%.

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.