Elevation Point Wealth Partners LLC Invests $4.50 Million in United Rentals, Inc. $URI

Elevation Point Wealth Partners LLC bought a new position in shares of United Rentals, Inc. (NYSE:URI) during the 2nd quarter, Holdings Channel.com reports. The fund bought 3,971 shares of the construction company’s stock, valued at approximately $4,499,000.

A number of other large investors have also modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of United Rentals in the second quarter valued at approximately $5,816,326,000. Capital World Investors raised its position in United Rentals by 1.1% in the fourth quarter. Capital World Investors now owns 2,708,877 shares of the construction company’s stock worth $2,192,357,000 after acquiring an additional 30,263 shares in the last quarter. Franklin Resources Inc. raised its position in United Rentals by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company’s stock worth $1,087,711,000 after acquiring an additional 28,895 shares in the last quarter. Norges Bank acquired a new stake in United Rentals in the fourth quarter valued at $978,017,000. Finally, Bank of America Corp DE boosted its position in shares of United Rentals by 14.7% during the 1st quarter. Bank of America Corp DE now owns 806,380 shares of the construction company’s stock worth $587,496,000 after purchasing an additional 103,371 shares in the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Trading Down 0.0%

Shares of United Rentals stock opened at $1,095.21 on Friday. United Rentals, Inc. has a 1 year low of $701.59 and a 1 year high of $1,179.18. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.70. The business has a 50 day moving average price of $1,099.22 and a 200 day moving average price of $949.51. The company has a market capitalization of $68.17 billion, a P/E ratio of 26.30, a P/E/G ratio of 1.42 and a beta of 1.80.

United Rentals (NYSE:URI) last announced its earnings results on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, beating analysts’ consensus estimates of $11.53 by $1.23. The firm 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 quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.47 EPS. Sell-side analysts anticipate that United Rentals, Inc. will post 48.55 EPS for the current fiscal year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be issued a $1.97 dividend. 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 is 18.92%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on URI shares. Bank of America upped 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, July 23rd. Zacks Research upgraded shares of United Rentals from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Wall Street Zen raised shares of United Rentals from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Morgan Stanley set a $1,335.00 target price on shares of United Rentals and gave the stock an “overweight” rating in a research report on Friday, July 24th. Finally, Wells Fargo & Company lifted their price target on shares of United Rentals from $1,245.00 to $1,355.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,246.19.

Insider Transactions at United Rentals

In other United Rentals news, EVP William E. Grace sold 1,500 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president directly owned 6,062 shares of the company’s stock, valued at $6,869,155.30. This trade represents a 19.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.47% of the company’s stock.

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.