PCM Encore LLC Takes Position in United Rentals, Inc. $URI

PCM Encore LLC purchased a new position in United Rentals, Inc. (NYSE:URI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 781 shares of the construction company’s stock, valued at approximately $885,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Core Wealth Advisors LLC purchased a new position in United Rentals during the fourth quarter worth about $28,000. MV Capital Management Inc. bought a new position in United Rentals in the 4th quarter worth about $28,000. MidFirst Bank bought a new position in United Rentals in the 2nd quarter worth about $31,000. Laurel Wealth Advisors LLC purchased a new stake in shares of United Rentals in the 4th quarter valued at about $32,000. Finally, Hilton Head Capital Partners LLC purchased a new stake in shares of United Rentals in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Analysts Set New Price Targets

URI has been the subject of several recent analyst reports. Evercore reissued an “outperform” rating and set a $1,101.00 price objective on shares of United Rentals in a report on Monday, May 11th. KeyCorp reaffirmed an “overweight” rating and issued a $1,350.00 target price on shares of United Rentals in a research note on Friday, July 24th. Truist Financial lifted their target price on shares of United Rentals from $1,421.00 to $1,466.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Zacks Research raised shares of United Rentals from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Finally, Argus reissued a “buy” rating and issued a $1,250.00 price target on shares of United Rentals in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, United Rentals has an average rating of “Moderate Buy” and a consensus price target of $1,246.19.

Insider Activity at United Rentals

In other United Rentals news, EVP William E. Grace sold 1,500 shares of United Rentals stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the transaction, the executive vice president directly owned 6,062 shares of the company’s stock, valued at approximately $6,869,155.30. This trade represents a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.47% of the company’s stock.

United Rentals Price Performance

URI opened at $1,094.54 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $68.12 billion, a P/E ratio of 26.29, a PEG ratio of 1.44 and a beta of 1.80. The stock has a 50-day moving average price of $1,098.84 and a 200-day moving average price of $948.49. United Rentals, Inc. has a 12-month low of $701.59 and a 12-month high of $1,179.18.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, beating analysts’ consensus estimates of $11.53 by $1.23. The company had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.22 billion. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.United Rentals’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the firm posted $10.47 EPS. Equities analysts predict that United Rentals, Inc. will post 48.55 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders 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 is Wednesday, August 12th. United Rentals’s dividend payout ratio (DPR) is presently 18.92%.

About United Rentals

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.