NewEdge Wealth LLC Buys Shares of 3,990 United Rentals, Inc. $URI

NewEdge Wealth LLC purchased a new position in shares of United Rentals, Inc. (NYSE:URI) during the second quarter, Holdings Channel reports. The fund purchased 3,990 shares of the construction company’s stock, valued at approximately $4,520,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. MidFirst Bank acquired a new position in United Rentals during the 2nd quarter worth about $31,000. Core Wealth Advisors LLC acquired a new position in United Rentals in the 4th quarter valued at about $28,000. MV Capital Management Inc. acquired a new position in United Rentals in the 4th quarter valued at about $28,000. Bell Investment Advisors Inc purchased a new stake in United Rentals during the second quarter worth about $40,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in United Rentals during the fourth quarter worth about $32,000. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on URI shares. KeyCorp reissued an “overweight” rating and set a $1,350.00 price target on shares of United Rentals in a research report on Friday, July 24th. Royal Bank Of Canada upped their target price on shares of United Rentals from $1,041.00 to $1,119.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Barclays increased their target price on shares of United Rentals from $715.00 to $950.00 and gave the stock an “underweight” rating in a report on Friday, July 24th. Raymond James Financial reissued an “outperform” rating and issued a $1,275.00 price target on shares of United Rentals in a research report on Wednesday, June 10th. Finally, Argus restated a “buy” rating and issued a $1,250.00 price target on shares of United Rentals in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, United Rentals has an average rating of “Moderate Buy” and an average price target of $1,246.19.

Insider Buying and Selling

In related news, EVP William E. Grace sold 1,500 shares of the stock in a transaction 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 owned 6,062 shares of the company’s stock, valued at $6,869,155.30. This represents a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.47% of the stock is owned by company insiders.

United Rentals Stock Down 0.0%

Shares of United Rentals stock opened at $1,116.17 on Thursday. 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, Inc. has a 52-week low of $701.59 and a 52-week high of $1,179.18. The company has a market capitalization of $69.47 billion, a P/E ratio of 26.81, a P/E/G ratio of 1.44 and a beta of 1.80. The company has a 50 day moving average of $1,098.29 and a 200 day moving average of $946.28.

United Rentals (NYSE:URI) last announced 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. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The company had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the prior year, the firm posted $10.47 EPS. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. As a group, research analysts forecast that United Rentals, Inc. will post 48.55 EPS for the current fiscal year.

United Rentals Announces Dividend

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