WESPAC Advisors LLC Takes $937,000 Position in United Rentals, Inc. (NYSE:URI)

WESPAC Advisors LLC bought a new position in shares of United Rentals, Inc. (NYSE:URI) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,157 shares of the construction company’s stock, valued at approximately $937,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of United Rentals by 11.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,203 shares of the construction company’s stock worth $7,492,000 after acquiring an additional 964 shares during the last quarter. Essex Financial Services Inc. raised its position in shares of United Rentals by 31.9% in the 2nd quarter. Essex Financial Services Inc. now owns 563 shares of the construction company’s stock worth $364,000 after buying an additional 136 shares during the period. Retireful LLC acquired a new position in United Rentals in the third quarter valued at $697,000. Mizuho Securities USA LLC grew its position in United Rentals by 1,067.5% during the third quarter. Mizuho Securities USA LLC now owns 59,879 shares of the construction company’s stock valued at $48,486,000 after acquiring an additional 54,750 shares during the period. Finally, Tidal Investments LLC increased its stake in United Rentals by 241.2% during the first quarter. Tidal Investments LLC now owns 4,859 shares of the construction company’s stock worth $3,504,000 after acquiring an additional 3,435 shares during the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Stock Performance

United Rentals stock opened at $849.32 on Friday. United Rentals, Inc. has a 52 week low of $454.71 and a 52 week high of $896.98. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38. The stock has a market cap of $55.73 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 1.97 and a beta of 1.68. The stock has a 50 day moving average of $819.40 and a 200-day moving average of $731.97.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.01 billion. United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $11.73 earnings per share. On average, analysts expect that United Rentals, Inc. will post 43.46 EPS for the current fiscal year.

United Rentals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a $1.63 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $6.52 dividend on an annualized basis and a yield of 0.77%. United Rentals’s dividend payout ratio (DPR) is 17.03%.

Insider Activity at United Rentals

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of United Rentals stock in a transaction on Monday, October 28th. The shares were sold at an average price of $823.24, for a total value of $740,916.00. Following the completion of the transaction, the senior vice president now owns 2,044 shares of the company’s stock, valued at $1,682,702.56. The trade was a 30.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.53% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

URI has been the topic of several research analyst reports. Barclays lifted their price objective on United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Robert W. Baird boosted their price objective on shares of United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research note on Thursday, October 3rd. Bank of America increased their price objective on shares of United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Citigroup lifted their target price on shares of United Rentals from $930.00 to $955.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Argus increased their price target on United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a report on Wednesday. Three analysts have rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, United Rentals currently has a consensus rating of “Hold” and an average target price of $751.67.

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.