Atria Investments Inc Boosts Stock Position in United Rentals, Inc. (NYSE:URI)

Atria Investments Inc lifted its position in United Rentals, Inc. (NYSE:URI) by 24.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,865 shares of the construction company’s stock after buying an additional 761 shares during the quarter. Atria Investments Inc’s holdings in United Rentals were worth $2,787,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Research Global Investors increased its holdings in United Rentals by 39.1% during the 4th quarter. Capital Research Global Investors now owns 6,399,808 shares of the construction company’s stock worth $3,669,806,000 after purchasing an additional 1,799,997 shares during the period. Norges Bank purchased a new stake in United Rentals during the 4th quarter worth about $977,443,000. Capital International Investors purchased a new stake in United Rentals during the 1st quarter worth about $332,349,000. Heritage Wealth Advisors increased its holdings in United Rentals by 15,100.8% during the 1st quarter. Heritage Wealth Advisors now owns 100,781 shares of the construction company’s stock worth $72,674,000 after purchasing an additional 100,118 shares during the period. Finally, AMF Tjanstepension AB increased its holdings in United Rentals by 59.9% during the 1st quarter. AMF Tjanstepension AB now owns 257,246 shares of the construction company’s stock worth $185,539,000 after purchasing an additional 96,323 shares during the period. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Wall Street Analyst Weigh In

URI has been the topic of several recent research reports. Citigroup assumed coverage on United Rentals in a report on Wednesday, June 26th. They set a “buy” rating and a $745.00 price target on the stock. Raymond James assumed coverage on United Rentals in a report on Friday, June 28th. They issued an “outperform” rating and a $750.00 price objective on the stock. Stifel Nicolaus increased their price objective on United Rentals from $720.00 to $750.00 and gave the company a “buy” rating in a report on Friday, April 26th. Truist Financial increased their price objective on United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. began coverage on United Rentals in a report on Friday, June 7th. They issued an “overweight” rating and a $780.00 price objective on the stock. Three analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $670.92.

Insider Buying and Selling

In related news, SVP Joli L. Gross sold 360 shares of United Rentals stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $690.00, for a total transaction of $248,400.00. Following the completion of the transaction, the senior vice president now directly owns 4,090 shares of the company’s stock, valued at $2,822,100. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.53% of the stock is currently owned by insiders.

United Rentals Stock Performance

United Rentals stock traded down $45.06 during mid-day trading on Friday, reaching $671.43. 1,004,257 shares of the company were exchanged, compared to its average volume of 685,891. United Rentals, Inc. has a twelve month low of $387.01 and a twelve month high of $789.80. The firm’s 50-day simple moving average is $668.99 and its two-hundred day simple moving average is $667.93. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 0.81. The firm has a market cap of $44.41 billion, a PE ratio of 18.19, a price-to-earnings-growth ratio of 2.13 and a beta of 1.71.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, July 24th. The construction company reported $10.70 EPS for the quarter, beating the consensus estimate of $10.48 by $0.22. The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.77 billion. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the firm earned $9.88 EPS. Equities analysts predict that United Rentals, Inc. will post 44.35 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Investors 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 annualized dividend and a yield of 0.97%. United Rentals’s dividend payout ratio is presently 17.66%.

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.