Muhlenkamp & Co. Inc. Acquires Shares of 15,673 United Rentals, Inc. $URI

Muhlenkamp & Co. Inc. bought a new stake in United Rentals, Inc. (NYSE:URI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 15,673 shares of the construction company’s stock, valued at approximately $17,756,000. United Rentals accounts for about 5.1% of Muhlenkamp & Co. Inc.’s holdings, making the stock its 9th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Core Wealth Advisors LLC bought a new stake in United Rentals during the 4th quarter worth about $28,000. MV Capital Management Inc. bought a new position in shares of United Rentals in the 4th quarter valued at about $28,000. Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of United Rentals during the 2nd quarter worth approximately $29,000. MidFirst Bank acquired a new stake in shares of United Rentals during the 2nd quarter worth approximately $31,000. Finally, Laurel Wealth Advisors LLC bought a new stake in shares of United Rentals during the fourth quarter worth approximately $32,000. Institutional investors own 96.26% of the company’s stock.

Insider Activity at United Rentals

In related news, EVP William E. Grace sold 1,500 shares of the business’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 sale, the executive vice president directly owned 6,062 shares of the company’s stock, valued at approximately $6,869,155.30. The trade was a 19.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.47% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on URI. Morgan Stanley set a $1,335.00 price objective on shares of United Rentals and gave the company an “overweight” rating in a report on Friday, July 24th. Wall Street Zen upgraded shares of United Rentals from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. JPMorgan Chase & Co. increased their price target on United Rentals from $1,100.00 to $1,235.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. UBS Group raised their price target on United Rentals from $1,300.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Finally, Robert W. Baird set a $1,300.00 price objective on United Rentals in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, United Rentals currently has an average rating of “Moderate Buy” and an average price target of $1,246.19.

United Rentals Stock Down 0.7%

Shares of United Rentals stock opened at $1,030.64 on Friday. United Rentals, Inc. has a 1 year low of $701.59 and a 1 year high of $1,179.18. The business has a 50-day moving average of $1,097.31 and a two-hundred day moving average of $957.16. The company has a market capitalization of $64.15 billion, a P/E ratio of 24.75, a price-to-earnings-growth ratio of 1.34 and a beta of 1.80. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.70.

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

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were given a dividend of $1.97 per share. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $7.88 annualized dividend and a dividend yield of 0.8%. United Rentals’s dividend payout ratio is currently 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.