Visionary Wealth Advisors Buys Shares of 6,778 United Rentals, Inc. $URI

Visionary Wealth Advisors purchased a new position in shares of United Rentals, Inc. (NYSE:URI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 6,778 shares of the construction company’s stock, valued at approximately $7,679,000.

A number of other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in United Rentals during the second quarter worth approximately $5,816,326,000. Norges Bank bought a new position in United Rentals during the 4th quarter valued at $978,017,000. Bank of New York Mellon Corp bought a new position in United Rentals during the 2nd quarter valued at $412,860,000. Corient Private Wealth LLC increased its position in shares of United Rentals by 1,667.4% during the 4th 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 during the period. Finally, W1M Asset Management Ltd acquired a new position in shares of United Rentals during the 2nd quarter valued at $337,323,000. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Stock Down 1.4%

URI stock opened at $1,083.45 on Tuesday. United Rentals, Inc. has a 52-week low of $701.59 and a 52-week high of $1,179.18. The company’s 50 day simple moving average is $1,099.24 and its 200-day simple moving average is $952.76. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.70. The firm has a market capitalization of $67.43 billion, a P/E ratio of 26.02, a P/E/G ratio of 1.42 and a beta of 1.80.

United Rentals (NYSE:URI) last posted its quarterly earnings data 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 firm 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 company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the company posted $10.47 EPS. As a group, equities research analysts anticipate that United Rentals, Inc. will post 48.55 EPS for the current year.

United Rentals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be paid a $1.97 dividend. This represents a $7.88 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, August 12th. United Rentals’s dividend payout ratio is currently 18.92%.

Insider Buying and Selling

In other United Rentals news, EVP William E. Grace sold 1,500 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 6,062 shares in the company, valued at approximately $6,869,155.30. This trade represents a 19.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Wells Fargo & Company upped their price objective on United Rentals from $1,245.00 to $1,355.00 and gave the company an “overweight” rating in a report on Friday, July 24th. JPMorgan Chase & Co. lifted their target price on United Rentals from $1,100.00 to $1,235.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Morgan Stanley set a $1,335.00 target price on United Rentals and gave the stock an “overweight” rating in a report on Friday, July 24th. Zacks Research upgraded shares of United Rentals from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Finally, Wall Street Zen raised shares of United Rentals from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,246.19.

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.