Concurrent Investment Advisors LLC Lowers Stock Holdings in United Rentals, Inc. $URI

Concurrent Investment Advisors LLC cut its holdings in United Rentals, Inc. (NYSE:URI) by 3.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,299 shares of the construction company’s stock after selling 687 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in United Rentals were worth $20,731,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of United Rentals during the 2nd quarter valued at approximately $5,816,326,000. Capital World Investors increased its holdings in United Rentals by 1.1% in the 4th 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. increased its holdings in United Rentals by 2.2% in the 4th 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 position in United Rentals during the fourth quarter worth $978,017,000. Finally, Bank of America Corp DE acquired a new position in United Rentals during the second quarter worth $944,196,000. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Stock Up 1.2%

Shares of NYSE URI opened at $991.97 on Friday. The stock has a market cap of $61.74 billion, a PE ratio of 23.82, a P/E/G ratio of 1.44 and a beta of 1.79. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38. United Rentals, Inc. has a 12-month low of $701.59 and a 12-month high of $1,179.18. The company has a 50-day moving average of $1,089.69 and a 200 day moving average of $961.35.

United Rentals (NYSE:URI) last issued its earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, topping the consensus estimate of $11.53 by $1.23. The business 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%.The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $10.47 EPS. As a group, sell-side analysts predict that United Rentals, Inc. will post 48.55 EPS for the current fiscal year.

United Rentals Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on URI. Wall Street Zen upgraded shares of United Rentals from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Robert W. Baird set a $1,300.00 price target on shares of United Rentals in a research report on Friday, July 24th. Weiss Ratings raised shares of United Rentals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 23rd. Truist Financial lifted their price objective on United Rentals from $1,421.00 to $1,466.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Finally, KeyCorp reiterated an “overweight” rating and set a $1,350.00 price objective on shares of United Rentals in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, United Rentals presently has a consensus rating of “Moderate Buy” and an average target price of $1,246.19.

Insider Buying and Selling

In other United Rentals news, EVP William Grace sold 1,500 shares of the business’s stock in a transaction on Friday, July 24th. The stock was 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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.