11,057,926 Shares in United Rentals, Inc. $URI Acquired by Wellington Management Group LLP

Wellington Management Group LLP bought a new position in shares of United Rentals, Inc. (NYSE:URI) during the second quarter, HoldingsChannel.com reports. The firm bought 11,057,926 shares of the construction company’s stock, valued at approximately $806,796,000. Wellington Management Group LLP owned approximately 0.18% of United Rentals at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Lombard Odier Asset Management Europe Ltd acquired a new position in shares of United Rentals in the second quarter worth $15,671,000. Archer Investment Corp purchased a new position in United Rentals in the second quarter valued at $1,146,000. Fox Hill Wealth Management purchased a new position in United Rentals in the second quarter valued at $402,000. Kingsview Wealth Management LLC acquired a new position in United Rentals during the 2nd quarter worth $565,000. Finally, Beacon Pointe Advisors LLC acquired a new position in United Rentals during the 2nd quarter worth $8,112,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Stock Performance

Shares of URI opened at $1,030.64 on Friday. The company has a market capitalization of $64.15 billion, a price-to-earnings ratio of 24.75, a price-to-earnings-growth ratio of 1.33 and a beta of 1.80. United Rentals, Inc. has a 52-week low of $701.59 and a 52-week high of $1,179.18. 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 stock has a 50 day moving average price of $1,097.31 and a 200 day moving average price of $957.16.

United Rentals (NYSE:URI) last released its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, topping 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 net margin of 15.67% and a return on equity of 31.72%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the company earned $10.47 earnings per share. Research analysts predict that United Rentals, Inc. will post 48.55 EPS for the current fiscal year.

United Rentals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were paid a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a yield of 0.8%. The ex-dividend date was Wednesday, August 12th. United Rentals’s dividend payout ratio (DPR) is currently 18.92%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on URI shares. Wall Street Zen raised United Rentals from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Weiss Ratings raised United Rentals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 23rd. KeyCorp restated an “overweight” rating and set a $1,350.00 target price on shares of United Rentals in a research note on Friday, July 24th. Evercore reiterated an “outperform” rating and issued a $1,101.00 price target on shares of United Rentals in a research note on Monday, May 11th. Finally, Truist Financial boosted their price target on shares of United Rentals from $1,421.00 to $1,466.00 and gave the stock a “buy” rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, United Rentals currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,246.19.

Insiders Place Their Bets

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 completion of the sale, the executive vice president directly owned 6,062 shares of the company’s stock, valued at $6,869,155.30. The trade was a 19.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.47% of the stock is currently owned by company insiders.

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.