Commerce Bank Purchases New Position in United Rentals, Inc. $URI

Commerce Bank bought a new stake in United Rentals, Inc. (NYSE:URI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,436 shares of the construction company’s stock, valued at approximately $3,893,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in URI. Core Wealth Advisors LLC purchased a new position in shares of United Rentals in the 4th quarter worth approximately $28,000. MV Capital Management Inc. purchased a new stake in shares of United Rentals during the fourth quarter valued at approximately $28,000. MidFirst Bank purchased a new position in United Rentals in the second quarter worth $31,000. Laurel Wealth Advisors LLC purchased a new position in United Rentals in the fourth quarter worth $32,000. Finally, Hilton Head Capital Partners LLC bought a new position in United Rentals in the 4th quarter valued at $34,000. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on URI shares. Evercore restated an “outperform” rating and set a $1,101.00 price target on shares of United Rentals in a research report on Monday, May 11th. Weiss Ratings upgraded shares of United Rentals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 23rd. JPMorgan Chase & Co. increased their target price on shares of United Rentals from $1,100.00 to $1,235.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Robert W. Baird set a $1,300.00 price target on shares of United Rentals in a research note on Friday, July 24th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $1,275.00 price target on shares of United Rentals in a report on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,246.19.

United Rentals Trading Down 1.4%

Shares of URI opened at $1,083.45 on Tuesday. United Rentals, Inc. has a twelve month low of $701.59 and a twelve month high of $1,179.18. The stock has a market cap of $67.43 billion, a PE ratio of 26.02, a P/E/G ratio of 1.42 and a beta of 1.80. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38. The business’s 50-day moving average price is $1,099.24 and its 200-day moving average price is $952.76.

United Rentals (NYSE:URI) last released its quarterly earnings data 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 company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.22 billion. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. United Rentals’s revenue was up 11.8% compared to the same quarter last year. During the same period last year, the business earned $10.47 earnings per share. On average, equities analysts forecast that United Rentals, Inc. will post 48.55 EPS for the current fiscal year.

United Rentals Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, August 12th. United Rentals’s dividend payout ratio (DPR) is presently 18.92%.

Insider Activity at United Rentals

In other news, EVP William E. Grace sold 1,500 shares of the company’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the transaction, the executive vice president owned 6,062 shares of the company’s stock, valued at approximately $6,869,155.30. This represents a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.47% of the stock is owned by company insiders.

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.