United Rentals, Inc. $URI Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership grew its stake in shares of United Rentals, Inc. (NYSE:URI) by 81.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 230,238 shares of the construction company’s stock after acquiring an additional 103,039 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.37% of United Rentals worth $167,742,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Woodline Partners LP raised its stake in United Rentals by 40.0% during the 1st quarter. Woodline Partners LP now owns 5,518 shares of the construction company’s stock valued at $3,458,000 after purchasing an additional 1,577 shares during the period. Sei Investments Co. raised its position in United Rentals by 24.7% during the second quarter. Sei Investments Co. now owns 27,136 shares of the construction company’s stock valued at $20,444,000 after buying an additional 5,375 shares during the period. Treasurer of the State of North Carolina lifted its stake in United Rentals by 43.6% in the 2nd quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company’s stock worth $42,233,000 after acquiring an additional 17,030 shares in the last quarter. HUB Investment Partners LLC boosted its position in United Rentals by 11.3% during the 2nd quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company’s stock worth $1,661,000 after acquiring an additional 223 shares during the period. Finally, Diversify Advisory Services LLC boosted its position in United Rentals by 338.7% during the 2nd quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company’s stock worth $1,246,000 after acquiring an additional 1,277 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Craig Adam Pintoff sold 2,466 shares of the company’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the completion of the transaction, the executive vice president directly owned 14,774 shares in the company, valued at $14,227,362. This represents a 14.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Joli L. Gross sold 306 shares of the stock in a transaction on Monday, April 27th. The shares were sold at an average price of $954.99, for a total transaction of $292,226.94. Following the completion of the sale, the senior vice president directly owned 5,738 shares of the company’s stock, valued at approximately $5,479,732.62. This trade represents a 5.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.47% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on URI. Wells Fargo & Company upped their target price on United Rentals from $1,245.00 to $1,355.00 and gave the company an “overweight” rating in a report on Friday. Bank of America raised their price target on shares of United Rentals from $1,195.00 to $1,300.00 and gave the stock a “buy” rating in a report on Thursday. Sanford C. Bernstein set a $903.00 price objective on shares of United Rentals and gave the company an “outperform” rating in a research report on Thursday, April 9th. Barclays upped their price objective on shares of United Rentals from $715.00 to $950.00 and gave the company an “underweight” rating in a research note on Friday. Finally, Weiss Ratings lowered shares of United Rentals from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. Fourteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, United Rentals currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,226.50.

Key Stories Impacting United Rentals

Here are the key news stories impacting United Rentals this week:

• Positive Sentiment: JPMorgan raised its price target on United Rentals to $1,235 and kept an overweight rating, signaling confidence in continued upside. JPMorgan price target increase
• Positive Sentiment: Truist boosted its target to $1,466 and maintained a buy rating, reflecting a more optimistic view of URI’s earnings power and demand trends. Truist price target increase
• Positive Sentiment: Citigroup raised its target to $1,330 with a buy rating after the company’s strong Q2 results and improved guidance. Citigroup price target increase
• Positive Sentiment: Bank of America increased its target to $1,300 and reiterated a buy rating, adding to the positive analyst momentum around the stock. Bank of America price target increase
• Positive Sentiment: United Rentals reported Q2 earnings of $12.76 per share and revenue of $4.41 billion, both ahead of expectations, and raised full-year guidance on stronger rental growth and demand. Q2 earnings beat and guidance raise
• Neutral Sentiment: The company also declared a quarterly dividend of $1.97 per share, which is a modest shareholder-return update but not likely the main driver of today’s trading. Dividend announcement

United Rentals Stock Up 0.0%

URI stock opened at $1,140.19 on Friday. The stock has a market capitalization of $71.43 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 1.82 and a beta of 1.79. The company has a 50-day moving average of $1,052.87 and a two-hundred day moving average of $919.10. United Rentals, Inc. has a 52-week low of $701.59 and a 52-week high of $1,177.67. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.74.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, topping analysts’ consensus estimates of $11.53 by $1.23. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same period in the previous year, the company posted $10.47 earnings per share. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, equities research analysts anticipate that United Rentals, Inc. will post 46.85 EPS for the current year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be given 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 payout ratio is currently 18.92%.

United Rentals 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.