Moors & Cabot Inc. Buys 3,159 Shares of United Rentals, Inc. (NYSE:URI)

Moors & Cabot Inc. lifted its stake in United Rentals, Inc. (NYSE:URI) by 22.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 17,271 shares of the construction company’s stock after purchasing an additional 3,159 shares during the quarter. Moors & Cabot Inc.’s holdings in United Rentals were worth $11,170,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Ameritas Advisory Services LLC increased its stake in shares of United Rentals by 3.8% in the 2nd quarter. Ameritas Advisory Services LLC now owns 378 shares of the construction company’s stock valued at $244,000 after purchasing an additional 14 shares in the last quarter. Duncker Streett & Co. Inc. raised its position in United Rentals by 0.3% during the second quarter. Duncker Streett & Co. Inc. now owns 5,352 shares of the construction company’s stock worth $3,461,000 after acquiring an additional 14 shares during the period. Concurrent Investment Advisors LLC lifted its holdings in United Rentals by 3.7% during the first quarter. Concurrent Investment Advisors LLC now owns 418 shares of the construction company’s stock valued at $301,000 after purchasing an additional 15 shares in the last quarter. Hoylecohen LLC grew its position in shares of United Rentals by 1.4% in the fourth quarter. Hoylecohen LLC now owns 1,163 shares of the construction company’s stock valued at $667,000 after purchasing an additional 16 shares during the period. Finally, Commerzbank Aktiengesellschaft FI increased its stake in shares of United Rentals by 4.7% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 357 shares of the construction company’s stock worth $231,000 after purchasing an additional 16 shares in the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Joli L. Gross sold 360 shares of United Rentals stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $690.00, for a total value of $248,400.00. Following the completion of the sale, the senior vice president now owns 4,090 shares in the company, valued at approximately $2,822,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.53% of the company’s stock.

United Rentals Trading Up 1.7 %

Shares of United Rentals stock opened at $741.66 on Tuesday. 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 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 capitalization of $49.05 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 1.65 and a beta of 1.68. The stock has a 50 day moving average of $712.20 and a 200 day moving average of $684.81.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share for the quarter, topping analysts’ consensus estimates 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 revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business posted $9.88 EPS. As a group, research analysts predict that United Rentals, Inc. will post 44.39 earnings per share for the current year.

United Rentals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend was Wednesday, August 14th. United Rentals’s dividend payout ratio (DPR) is 17.66%.

Analysts Set New Price Targets

Several research firms recently issued reports on URI. Citigroup started coverage on United Rentals in a report on Wednesday, June 26th. They issued a “buy” rating and a $745.00 price objective on the stock. Evercore ISI boosted their price target on United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. The Goldman Sachs Group increased their price objective on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. assumed coverage on shares of United Rentals in a report on Friday, June 7th. They set an “overweight” rating and a $780.00 target price for the company. Finally, Truist Financial raised their price target on shares of United Rentals from $785.00 to $873.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $675.15.

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.