Cassaday & Co Wealth Management LLC Takes $324,000 Position in United Rentals, Inc. $URI

Cassaday & Co Wealth Management LLC purchased a new position in United Rentals, Inc. (NYSE:URI) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 430 shares of the construction company’s stock, valued at approximately $324,000.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of United Rentals by 0.4% in the first quarter. Vanguard Group Inc. now owns 7,422,036 shares of the construction company’s stock worth $4,651,390,000 after purchasing an additional 29,501 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of United Rentals by 98.1% in the first quarter. JPMorgan Chase & Co. now owns 1,093,805 shares of the construction company’s stock worth $685,488,000 after purchasing an additional 541,579 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of United Rentals by 28.8% in the first quarter. The Manufacturers Life Insurance Company now owns 849,786 shares of the construction company’s stock worth $532,561,000 after purchasing an additional 190,007 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of United Rentals by 6.4% in the second quarter. Nordea Investment Management AB now owns 749,276 shares of the construction company’s stock worth $565,374,000 after purchasing an additional 44,854 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in United Rentals by 22.3% during the first quarter. Goldman Sachs Group Inc. now owns 661,251 shares of the construction company’s stock valued at $414,406,000 after acquiring an additional 120,449 shares in the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. UBS Group reaffirmed a “neutral” rating and set a $1,025.00 price objective on shares of United Rentals in a research report on Tuesday, October 28th. Robert W. Baird raised shares of United Rentals from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $888.00 to $1,050.00 in a research report on Wednesday, October 1st. BNP Paribas set a $900.00 price objective on shares of United Rentals and gave the company a “neutral” rating in a research report on Tuesday, September 16th. JPMorgan Chase & Co. raised their price objective on shares of United Rentals from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Monday, September 22nd. Finally, Baird R W raised shares of United Rentals from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, United Rentals presently has an average rating of “Moderate Buy” and an average price target of $974.47.

United Rentals Trading Down 0.6%

Shares of URI stock opened at $852.40 on Wednesday. United Rentals, Inc. has a 12 month low of $525.91 and a 12 month high of $1,021.47. The company has a quick ratio of 0.84, a current ratio of 0.90 and a debt-to-equity ratio of 1.40. The business’s 50 day moving average is $949.36 and its two-hundred day moving average is $828.71. The company has a market cap of $54.24 billion, a PE ratio of 21.92, a price-to-earnings-growth ratio of 1.97 and a beta of 1.73.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, October 22nd. The construction company reported $11.70 EPS for the quarter, missing the consensus estimate of $12.43 by ($0.73). United Rentals had a net margin of 15.83% and a return on equity of 31.30%. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same quarter last year, the business earned $11.80 EPS. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. United Rentals has set its FY 2025 guidance at EPS. Equities analysts predict that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th will be paid a $1.79 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $7.16 annualized dividend and a dividend yield of 0.8%. United Rentals’s dividend payout ratio (DPR) is presently 18.42%.

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.