Tidal Investments LLC Acquires 3,435 Shares of United Rentals, Inc. (NYSE:URI)

Tidal Investments LLC lifted its position in United Rentals, Inc. (NYSE:URI) by 241.2% in the 1st quarter, Holdings Channel reports. The fund owned 4,859 shares of the construction company’s stock after acquiring an additional 3,435 shares during the quarter. Tidal Investments LLC’s holdings in United Rentals were worth $3,504,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. California State Teachers Retirement System grew its stake in shares of United Rentals by 1.0% in the 1st quarter. California State Teachers Retirement System now owns 112,102 shares of the construction company’s stock worth $80,838,000 after buying an additional 1,155 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of United Rentals by 1.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,275 shares of the construction company’s stock worth $3,083,000 after buying an additional 73 shares during the last quarter. Dynasty Wealth Management LLC purchased a new stake in shares of United Rentals in the 1st quarter worth approximately $1,356,000. Grandeur Peak Global Advisors LLC grew its stake in shares of United Rentals by 4.6% in the 1st quarter. Grandeur Peak Global Advisors LLC now owns 4,899 shares of the construction company’s stock worth $3,533,000 after buying an additional 214 shares during the last quarter. Finally, Kodai Capital Management LP purchased a new stake in shares of United Rentals in the 1st quarter worth approximately $9,064,000. Institutional investors own 96.26% of the company’s stock.

United Rentals Stock Performance

United Rentals stock traded down $44.50 during trading on Friday, reaching $671.99. The company had a trading volume of 179,166 shares, compared to its average volume of 584,490. United Rentals, Inc. has a 52 week low of $387.01 and a 52 week high of $789.80. The firm’s 50-day simple moving average is $669.03 and its 200 day simple moving average is $667.15. The firm has a market capitalization of $44.45 billion, a price-to-earnings ratio of 19.41, a price-to-earnings-growth ratio of 2.25 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, July 24th. The construction company reported $10.70 EPS for the quarter, topping analysts’ consensus estimates of $10.48 by $0.22. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The company 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 earned $9.88 EPS. United Rentals’s revenue for the quarter was up 6.2% compared to the same quarter last year. Sell-side analysts forecast that United Rentals, Inc. will post 44.35 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $6.52 dividend on an annualized basis and a yield of 0.97%. United Rentals’s dividend payout ratio is presently 17.66%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on URI shares. Stifel Nicolaus upped their price target on United Rentals from $720.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Raymond James began coverage on United Rentals in a research note on Friday, June 28th. They issued an “outperform” rating and a $750.00 price target on the stock. Truist Financial increased their target price on United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Oppenheimer reiterated a “market perform” rating on shares of United Rentals in a research note on Monday, April 29th. Finally, The Goldman Sachs Group increased their target price on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, United Rentals presently has a consensus rating of “Hold” and an average price target of $670.92.

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.