United Rentals, Inc. (NYSE:URI) Shares Acquired by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC raised its stake in shares of United Rentals, Inc. (NYSE:URI) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,236 shares of the construction company’s stock after purchasing an additional 359 shares during the period. Nisa Investment Advisors LLC’s holdings in United Rentals were worth $13,087,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. increased its stake in United Rentals by 9.3% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 4,458 shares of the construction company’s stock worth $2,883,000 after acquiring an additional 379 shares during the last quarter. Argus Investors Counsel Inc. raised its position in United Rentals by 1.2% in the second quarter. Argus Investors Counsel Inc. now owns 2,854 shares of the construction company’s stock valued at $1,846,000 after purchasing an additional 35 shares during the period. Oakworth Capital Inc. acquired a new position in shares of United Rentals during the second quarter worth about $61,000. Peddock Capital Advisors LLC lifted its stake in shares of United Rentals by 7.7% during the second quarter. Peddock Capital Advisors LLC now owns 1,111 shares of the construction company’s stock worth $719,000 after purchasing an additional 79 shares in the last quarter. Finally, Gradient Investments LLC grew its position in United Rentals by 13.8% in the second quarter. Gradient Investments LLC now owns 25,111 shares of the construction company’s stock valued at $16,240,000 after acquiring an additional 3,039 shares in the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

URI has been the topic of a number of recent research reports. The Goldman Sachs Group boosted their target price on shares of United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Citigroup initiated coverage on United Rentals in a research note on Wednesday, June 26th. They issued a “buy” rating and a $745.00 price target on the stock. Truist Financial raised their price objective on United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. started coverage on United Rentals in a research report on Friday, June 7th. They issued an “overweight” rating and a $780.00 target price on the stock. Finally, Evercore ISI raised their price target on shares of United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a research report on Monday. Three analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, United Rentals currently has a consensus rating of “Hold” and a consensus price target of $675.15.

United Rentals Price Performance

NYSE:URI traded up $4.02 during mid-day trading on Monday, hitting $718.49. The company’s stock had a trading volume of 139,817 shares, compared to its average volume of 577,428. United Rentals, Inc. has a fifty-two week low of $387.01 and a fifty-two week high of $789.80. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39. The stock has a fifty day moving average of $677.57 and a 200-day moving average of $675.55. The company has a market capitalization of $47.84 billion, a price-to-earnings ratio of 19.27, a P/E/G ratio of 2.09 and a beta of 1.71.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, July 24th. The construction company reported $10.70 EPS for the quarter, topping the consensus estimate 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 quarter in the prior year, the business earned $9.88 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities analysts forecast that United Rentals, Inc. will post 44.37 EPS for the current fiscal year.

United Rentals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Wednesday, August 14th. United Rentals’s dividend payout ratio is 17.66%.

Insider Buying and Selling at United Rentals

In related news, SVP Joli L. Gross sold 360 shares of United Rentals stock in a transaction that occurred 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 sale, the senior vice president now directly owns 4,090 shares of the company’s stock, valued at approximately $2,822,100. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.53% of the company’s stock.

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.