Meeder Asset Management Inc. Makes New Investment in United Rentals, Inc. $URI

Meeder Asset Management Inc. purchased a new position in United Rentals, Inc. (NYSE:URI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,191 shares of the construction company’s stock, valued at approximately $4,748,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of United Rentals during the 2nd quarter worth $5,816,326,000. Norges Bank bought a new position in United Rentals in the fourth quarter valued at $978,017,000. Bank of New York Mellon Corp bought a new position in United Rentals in the second quarter valued at $412,860,000. Corient Private Wealth LLC raised its position in United Rentals by 1,667.4% during the fourth quarter. Corient Private Wealth LLC now owns 343,965 shares of the construction company’s stock valued at $278,378,000 after purchasing an additional 324,503 shares in the last quarter. Finally, Deutsche Bank AG bought a new stake in United Rentals during the second quarter worth about $218,508,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Bank of America upped their price objective on United Rentals from $1,195.00 to $1,300.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Wall Street Zen upgraded United Rentals from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Barclays boosted their target price on United Rentals from $715.00 to $950.00 and gave the stock an “underweight” rating in a research report on Friday, July 24th. Wells Fargo & Company upped their target price on United Rentals from $1,245.00 to $1,355.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Finally, Argus reiterated a “buy” rating and set a $1,250.00 price target on shares of United Rentals in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,246.19.

Insider Buying and Selling

In other United Rentals news, EVP William E. Grace sold 1,500 shares of United Rentals stock in a transaction that occurred on Friday, July 24th. The stock was 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is owned by company insiders.

United Rentals Stock Performance

NYSE URI opened at $1,166.11 on Tuesday. The company has a 50-day simple moving average of $1,096.63 and a two-hundred day simple moving average of $942.44. United Rentals, Inc. has a 12-month low of $701.59 and a 12-month high of $1,179.18. The firm has a market cap of $72.58 billion, a price-to-earnings ratio of 28.00, a PEG ratio of 1.49 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.

United Rentals (NYSE:URI) last released its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, topping the consensus estimate of $11.53 by $1.23. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter in the previous year, the business earned $10.47 earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. On average, equities analysts forecast that United Rentals, Inc. will post 48.55 EPS for the current year.

United Rentals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be given a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a yield of 0.7%. The ex-dividend date is Wednesday, August 12th. United Rentals’s dividend payout ratio (DPR) is presently 18.92%.

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.