Secure Asset Management LLC Invests $324,000 in United Rentals, Inc. (NYSE:URI)

Secure Asset Management LLC acquired a new position in United Rentals, Inc. (NYSE:URI) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 501 shares of the construction company’s stock, valued at approximately $324,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. &PARTNERS grew its position in United Rentals by 5.4% in the 2nd quarter. &PARTNERS now owns 5,641 shares of the construction company’s stock worth $3,622,000 after purchasing an additional 289 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of United Rentals by 33.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 4,153 shares of the construction company’s stock valued at $2,686,000 after purchasing an additional 1,032 shares during the period. HTLF Bank increased its position in shares of United Rentals by 6.2% during the 2nd quarter. HTLF Bank now owns 1,268 shares of the construction company’s stock valued at $820,000 after purchasing an additional 74 shares during the last quarter. Moss Adams Wealth Advisors LLC boosted its holdings in shares of United Rentals by 4.7% in the second quarter. Moss Adams Wealth Advisors LLC now owns 650 shares of the construction company’s stock worth $420,000 after buying an additional 29 shares during the last quarter. Finally, Lecap Asset Management Ltd. purchased a new stake in United Rentals during the second quarter valued at approximately $803,000. 96.26% of the stock is owned by institutional investors.

United Rentals Stock Up 3.9 %

NYSE URI traded up $27.98 during trading on Friday, reaching $745.03. 283,925 shares of the company’s stock traded hands, compared to its average volume of 570,363. The company’s 50 day simple moving average is $687.20 and its two-hundred day simple moving average is $677.82. United Rentals, Inc. has a 12-month low of $387.01 and a 12-month high of $789.80. The firm has a market cap of $49.61 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 1.65 and a beta of 1.71. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.81 and a quick ratio of 0.76.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter last year, the firm earned $9.88 EPS. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, sell-side analysts forecast that United Rentals, Inc. will post 44.4 EPS 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 $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.88%. The ex-dividend date is Wednesday, August 14th. United Rentals’s dividend payout ratio is presently 17.66%.

Insider Transactions at United Rentals

In other United Rentals news, SVP Joli L. Gross sold 360 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $690.00, for a total transaction of $248,400.00. Following the sale, the senior vice president now 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 can be accessed through the SEC website. Insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on URI shares. Citigroup initiated coverage on United Rentals in a research note on Wednesday, June 26th. They issued a “buy” rating and a $745.00 price objective for the company. The Goldman Sachs Group raised their target price on shares of United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. assumed coverage on shares of United Rentals in a research note on Friday, June 7th. They set an “overweight” rating and a $780.00 target price on the stock. Evercore ISI lifted their target price on United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Finally, Raymond James assumed coverage on shares of United Rentals in a report on Friday, June 28th. They issued an “outperform” rating and a $750.00 target price on the stock. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, United Rentals currently has a consensus rating of “Hold” and a consensus target price of $675.15.

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.