Rakuten Investment Management Inc. Buys New Holdings in United Rentals, Inc. $URI

Rakuten Investment Management Inc. bought a new position in United Rentals, Inc. (NYSE:URI) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 62,563 shares of the construction company’s stock, valued at approximately $59,726,000. Rakuten Investment Management Inc. owned 0.10% of United Rentals at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Optas LLC lifted its holdings in shares of United Rentals by 0.9% during the 3rd quarter. Optas LLC now owns 1,174 shares of the construction company’s stock worth $1,121,000 after acquiring an additional 10 shares during the period. CreativeOne Wealth LLC raised its position in United Rentals by 0.5% in the second quarter. CreativeOne Wealth LLC now owns 2,283 shares of the construction company’s stock worth $1,720,000 after purchasing an additional 11 shares in the last quarter. OFI Invest Asset Management lifted its stake in United Rentals by 6.7% during the third quarter. OFI Invest Asset Management now owns 175 shares of the construction company’s stock worth $167,000 after purchasing an additional 11 shares during the period. Great Valley Advisor Group Inc. boosted its holdings in United Rentals by 2.9% during the second quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock valued at $292,000 after purchasing an additional 11 shares in the last quarter. Finally, Bank of Jackson Hole Trust grew its stake in shares of United Rentals by 12.0% in the 2nd quarter. Bank of Jackson Hole Trust now owns 112 shares of the construction company’s stock valued at $84,000 after purchasing an additional 12 shares during the period. Institutional investors own 96.26% of the company’s stock.

United Rentals Stock Down 1.1%

Shares of NYSE URI opened at $911.07 on Wednesday. United Rentals, Inc. has a 12-month low of $525.91 and a 12-month high of $1,021.47. The firm’s 50-day simple moving average is $837.69 and its 200 day simple moving average is $883.75. The company has a quick ratio of 0.84, a current ratio of 0.90 and a debt-to-equity ratio of 1.40. The company has a market cap of $57.97 billion, a price-to-earnings ratio of 23.43, a price-to-earnings-growth ratio of 1.92 and a beta of 1.69.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, October 22nd. The construction company reported $11.70 earnings per share for the quarter, missing the consensus estimate of $12.43 by ($0.73). United Rentals had a net margin of 15.83% and a return on equity of 31.30%. The company had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.16 billion. During the same quarter in the previous year, the business posted $11.80 EPS. The company’s revenue was up 5.9% compared to the same quarter last year. On average, research analysts expect that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on URI. Truist Financial cut their target price on United Rentals from $1,169.00 to $1,045.00 and set a “buy” rating for the company in a research report on Thursday, December 18th. Sanford C. Bernstein set a $1,128.00 price objective on United Rentals and gave the stock an “outperform” rating in a research note on Tuesday, September 23rd. Wells Fargo & Company initiated coverage on shares of United Rentals in a research note on Thursday, November 13th. They issued an “overweight” rating and a $995.00 target price on the stock. Royal Bank Of Canada set a $1,123.00 target price on shares of United Rentals in a report on Friday, October 24th. Finally, Barclays dropped their target price on shares of United Rentals from $620.00 to $600.00 and set an “underweight” rating for the company in a research report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $962.61.

United Rentals Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.