Lombard Odier Asset Management Switzerland SA Buys New Shares in United Rentals, Inc. $URI

Lombard Odier Asset Management Switzerland SA purchased a new position in United Rentals, Inc. (NYSE:URI) during the first quarter, HoldingsChannel reports. The institutional investor purchased 5,912 shares of the construction company’s stock, valued at approximately $4,307,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gleason Group Inc. lifted its holdings in shares of United Rentals by 4.3% during the 4th quarter. Gleason Group Inc. now owns 269 shares of the construction company’s stock worth $218,000 after acquiring an additional 11 shares during the period. Bridgewater Advisors Inc. boosted its position in shares of United Rentals by 1.2% in the fourth quarter. Bridgewater Advisors Inc. now owns 967 shares of the construction company’s stock worth $783,000 after acquiring an additional 11 shares during the last quarter. PFG Investments LLC grew its holdings in United Rentals by 0.9% in the first quarter. PFG Investments LLC now owns 1,172 shares of the construction company’s stock valued at $854,000 after purchasing an additional 11 shares during the period. Great Valley Advisor Group Inc. grew its holdings in United Rentals by 2.9% in 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 during the period. Finally, Fearless Solutions LLC dba Best Invest increased its position in United Rentals by 2.2% during the fourth quarter. Fearless Solutions LLC dba Best Invest now owns 554 shares of the construction company’s stock worth $448,000 after purchasing an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

More United Rentals News

Here are the key news stories impacting United Rentals this week:

• Positive Sentiment: JPMorgan raised its price target on United Rentals to $1,235 and kept an overweight rating, signaling confidence in continued upside. JPMorgan price target increase
• Positive Sentiment: Truist boosted its target to $1,466 and maintained a buy rating, reflecting a more optimistic view of URI’s earnings power and demand trends. Truist price target increase
• Positive Sentiment: Citigroup raised its target to $1,330 with a buy rating after the company’s strong Q2 results and improved guidance. Citigroup price target increase
• Positive Sentiment: Bank of America increased its target to $1,300 and reiterated a buy rating, adding to the positive analyst momentum around the stock. Bank of America price target increase
• Positive Sentiment: United Rentals reported Q2 earnings of $12.76 per share and revenue of $4.41 billion, both ahead of expectations, and raised full-year guidance on stronger rental growth and demand. Q2 earnings beat and guidance raise
• Neutral Sentiment: The company also declared a quarterly dividend of $1.97 per share, which is a modest shareholder-return update but not likely the main driver of today’s trading. Dividend announcement

United Rentals Trading Down 0.1%

NYSE URI opened at $1,140.19 on Monday. The firm has a market capitalization of $70.97 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 1.51 and a beta of 1.79. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.70 and a current ratio of 0.76. United Rentals, Inc. has a one year low of $701.59 and a one year high of $1,177.67. The company’s 50 day moving average price is $1,052.87 and its 200 day moving average price is $919.31.

United Rentals (NYSE:URI) last released its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.53 by $1.23. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the previous year, the firm earned $10.47 earnings per share. United Rentals’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, sell-side analysts predict that United Rentals, Inc. will post 47.32 EPS for the current year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be given a dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, August 12th. United Rentals’s dividend payout ratio is 18.92%.

Analyst Ratings Changes

URI has been the topic of a number of recent analyst reports. Bank of America increased their price target on shares of United Rentals from $1,195.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley set a $1,335.00 price objective on shares of United Rentals and gave the company an “overweight” rating in a research note on Friday. UBS Group restated a “buy” rating and set a $1,350.00 price objective on shares of United Rentals in a report on Thursday. Robert W. Baird set a $1,300.00 target price on United Rentals in a research report on Friday. Finally, Citigroup lifted their target price on United Rentals from $1,270.00 to $1,330.00 and gave the company a “buy” rating in a report on Friday. Fifteen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, United Rentals currently has an average rating of “Moderate Buy” and a consensus target price of $1,226.50.

United Rentals Company 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.