Avestar Capital LLC Purchases New Position in United Rentals, Inc. $URI

Avestar Capital LLC acquired a new position in shares of United Rentals, Inc. (NYSE:URI) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 659 shares of the construction company’s stock, valued at approximately $496,000.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its position in United Rentals by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 7,494,303 shares of the construction company’s stock worth $5,646,208,000 after acquiring an additional 72,267 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in United Rentals by 71.3% in the second quarter. JPMorgan Chase & Co. now owns 1,874,127 shares of the construction company’s stock worth $1,411,968,000 after purchasing an additional 780,322 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of United Rentals by 6.1% during the second quarter. Franklin Resources Inc. now owns 1,231,108 shares of the construction company’s stock worth $927,517,000 after purchasing an additional 70,870 shares during the last quarter. Norges Bank acquired a new stake in shares of United Rentals in the second quarter valued at $776,102,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of United Rentals by 28.8% in the first quarter. The Manufacturers Life Insurance Company now owns 849,786 shares of the construction company’s stock valued at $532,561,000 after buying an additional 190,007 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Price Performance

Shares of URI opened at $796.27 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 1.40. The stock has a market cap of $50.67 billion, a P/E ratio of 20.48, a price-to-earnings-growth ratio of 1.80 and a beta of 1.68. The stock’s 50-day moving average price is $889.08 and its two-hundred day moving average price is $854.04. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year high of $1,021.47.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, October 22nd. The construction company reported $11.70 earnings per share for the quarter, missing analysts’ consensus estimates of $12.43 by ($0.73). United Rentals had a net margin of 15.83% and a return on equity of 31.30%. The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.16 billion. During the same quarter in the prior year, the business earned $11.80 earnings per share. The business’s revenue was up 5.9% on a year-over-year basis. On average, equities analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th were given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, November 12th. United Rentals’s dividend payout ratio (DPR) is currently 18.42%.

Analyst Ratings Changes

Several research analysts recently issued reports on URI shares. Argus set a $935.00 price target on shares of United Rentals in a research report on Tuesday, August 12th. Truist Financial set a $1,169.00 target price on shares of United Rentals in a research report on Friday, October 24th. UBS Group reissued a “neutral” rating and set a $1,025.00 price target on shares of United Rentals in a research note on Tuesday, October 28th. BNP Paribas Exane raised shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $900.00 price target for the company in a report on Tuesday, September 16th. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of United Rentals in a report on Tuesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $968.94.

About United Rentals

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.