Sycomore Asset Management Increases Stake in United Rentals, Inc. (NYSE:URI)

Sycomore Asset Management boosted its stake in United Rentals, Inc. (NYSE:URI) by 9.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,530 shares of the construction company’s stock after buying an additional 569 shares during the period. Sycomore Asset Management’s holdings in United Rentals were worth $4,113,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Essex Financial Services Inc. grew its position in shares of United Rentals by 31.9% in the 2nd quarter. Essex Financial Services Inc. now owns 563 shares of the construction company’s stock worth $364,000 after buying an additional 136 shares during the period. Nomura Holdings Inc. purchased a new stake in United Rentals in the fourth quarter worth about $780,000. Forsta AP Fonden increased its stake in shares of United Rentals by 2.8% during the first quarter. Forsta AP Fonden now owns 14,600 shares of the construction company’s stock valued at $10,528,000 after purchasing an additional 400 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of United Rentals by 241.2% during the first quarter. Tidal Investments LLC now owns 4,859 shares of the construction company’s stock valued at $3,504,000 after purchasing an additional 3,435 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of United Rentals in the 4th quarter worth approximately $779,000. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

United Rentals Stock Performance

URI stock opened at $809.73 on Tuesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.81 and a quick ratio of 0.76. United Rentals, Inc. has a 1 year low of $387.01 and a 1 year high of $826.24. The company has a market cap of $53.56 billion, a P/E ratio of 21.93, a price-to-earnings-growth ratio of 1.89 and a beta of 1.68. The stock’s fifty day moving average price is $731.69 and its 200-day moving average price is $692.88.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.48 by $0.22. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period last year, the firm posted $9.88 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities analysts forecast that United Rentals, Inc. will post 44.39 earnings per share for the current year.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were issued a dividend of $1.63 per share. The ex-dividend date was Wednesday, August 14th. This represents a $6.52 dividend on an annualized basis and a yield of 0.81%. United Rentals’s dividend payout ratio is currently 17.66%.

Insiders Place Their Bets

In other news, SVP Joli L. Gross sold 360 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $690.00, for a total transaction of $248,400.00. Following the completion of the sale, the senior vice president now owns 4,090 shares of the company’s stock, valued at approximately $2,822,100. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

URI has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Evercore ISI lifted their price target on United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. The Goldman Sachs Group increased their price objective on shares of United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Raymond James assumed coverage on shares of United Rentals in a report on Friday, June 28th. They issued an “outperform” rating and a $750.00 target price for the company. Finally, Truist Financial upped their target price on shares of United Rentals from $785.00 to $873.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $687.46.

United Rentals Company Profile

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.