Sigma Investment Counselors Inc. Has $8.23 Million Holdings in United Rentals, Inc. $URI

Sigma Investment Counselors Inc. raised its position in United Rentals, Inc. (NYSE:URI) by 4.6% in the second quarter, HoldingsChannel reports. The fund owned 10,919 shares of the construction company’s stock after purchasing an additional 483 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in United Rentals were worth $8,226,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in URI. Nuveen LLC acquired a new stake in United Rentals in the first quarter valued at approximately $402,291,000. JPMorgan Chase & Co. grew its stake in United Rentals by 98.1% in the first quarter. JPMorgan Chase & Co. now owns 1,093,805 shares of the construction company’s stock valued at $685,488,000 after acquiring an additional 541,579 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new stake in United Rentals in the second quarter valued at approximately $152,069,000. The Manufacturers Life Insurance Company grew its stake in United Rentals by 28.8% in the first quarter. The Manufacturers Life Insurance Company now owns 849,786 shares of the construction company’s stock valued at $532,561,000 after acquiring an additional 190,007 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in United Rentals by 22.3% in the first quarter. Goldman Sachs Group Inc. now owns 661,251 shares of the construction company’s stock valued at $414,406,000 after acquiring an additional 120,449 shares during the period. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Stock Down 2.6%

URI stock opened at $979.96 on Friday. The stock’s fifty day simple moving average is $950.90 and its two-hundred day simple moving average is $798.11. 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 1-year low of $525.91 and a 1-year high of $1,021.47. The stock has a market cap of $63.05 billion, a P/E ratio of 25.34, a P/E/G ratio of 2.26 and a beta of 1.73.

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

United Rentals Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Bank of America raised their price objective on United Rentals from $895.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Robert W. Baird upgraded United Rentals from a “neutral” rating to an “outperform” rating and raised their target price for the company from $888.00 to $1,050.00 in a report on Wednesday, October 1st. Barclays raised their target price on United Rentals from $565.00 to $620.00 and gave the company an “underweight” rating in a report on Monday, July 21st. BNP Paribas set a $900.00 target price on United Rentals and gave the company a “neutral” rating in a report on Tuesday, September 16th. Finally, Morgan Stanley raised their target price on United Rentals from $702.00 to $955.00 and gave the company an “overweight” rating in a report on Monday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $956.13.

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.