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Golden State Wealth Management LLC raised its stake in shares of United Rentals, Inc. (NYSE:URI – Free Report) by 225.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 681 shares of the construction company’s stock after buying an additional 472 shares during the period. Golden State Wealth Management LLC’s holdings in United Rentals were worth $427,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Independent Solutions Wealth Management LLC grew its position in shares of United Rentals by 2.1% during the 1st quarter. Independent Solutions Wealth Management LLC now owns 2,811 shares of the construction company’s stock valued at $1,762,000 after acquiring an additional 57 shares during the period. Spire Wealth Management grew its position in shares of United Rentals by 1.8% during the 1st quarter. Spire Wealth Management now owns 2,227 shares of the construction company’s stock valued at $1,396,000 after acquiring an additional 39 shares during the period. Daymark Wealth Partners LLC grew its position in shares of United Rentals by 2.2% during the 1st quarter. Daymark Wealth Partners LLC now owns 1,491 shares of the construction company’s stock valued at $934,000 after acquiring an additional 32 shares during the period. Golden State Equity Partners grew its position in shares of United Rentals by 25.0% during the 1st quarter. Golden State Equity Partners now owns 791 shares of the construction company’s stock valued at $496,000 after acquiring an additional 158 shares during the period. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of United Rentals during the 1st quarter valued at $26,000. 96.26% of the stock is currently owned by hedge funds and other institutional investors.
United Rentals Stock Up 1.6%
Shares of URI stock opened at $754.03 on Friday. The stock has a market cap of $49.01 billion, a P/E ratio of 19.52, a PEG ratio of 1.81 and a beta of 1.70. United Rentals, Inc. has a 52 week low of $525.91 and a 52 week high of $896.98. The company has a quick ratio of 0.79, a current ratio of 0.85 and a debt-to-equity ratio of 1.31. The company’s fifty day simple moving average is $688.57 and its two-hundred day simple moving average is $683.28.
United Rentals (NYSE:URI – Get Free Report) last announced its earnings results on Wednesday, April 23rd. The construction company reported $8.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.92 by ($0.06). The business had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.61 billion. United Rentals had a net margin of 16.38% and a return on equity of 33.11%. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $9.15 earnings per share. Analysts predict that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.
United Rentals Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Wednesday, May 14th. United Rentals’s dividend payout ratio is 18.54%.
Insider Activity
In other news, EVP Michael D. Durand sold 1,100 shares of the company’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $626.28, for a total transaction of $688,908.00. Following the sale, the executive vice president now directly owns 8,748 shares in the company, valued at approximately $5,478,697.44. This represents a 11.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Andrew B. Limoges sold 708 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $705.86, for a total transaction of $499,748.88. Following the sale, the vice president now owns 1,921 shares in the company, valued at $1,355,957.06. This represents a 26.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.
Analysts Set New Price Targets
Several brokerages recently weighed in on URI. UBS Group raised shares of United Rentals from a “sell” rating to a “neutral” rating and upped their target price for the stock from $485.00 to $780.00 in a report on Friday, May 16th. Redburn Atlantic downgraded shares of United Rentals from a “buy” rating to a “neutral” rating and set a $760.00 target price for the company. in a report on Friday, June 13th. Cfra Research raised shares of United Rentals to a “strong-buy” rating in a report on Friday, April 25th. Evercore ISI dropped their target price on shares of United Rentals from $974.00 to $921.00 and set an “outperform” rating for the company in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. upped their target price on shares of United Rentals from $780.00 to $920.00 and gave the stock an “overweight” rating in a report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $765.07.
Read Our Latest Stock Analysis on United Rentals
United Rentals 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.
Further Reading
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