National Wealth Management Group LLC Takes $639,000 Position in United Rentals, Inc. $URI

National Wealth Management Group LLC acquired a new stake in shares of United Rentals, Inc. (NYSE:URI) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 669 shares of the construction company’s stock, valued at approximately $639,000.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in United Rentals by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 7,494,303 shares of the construction company’s stock valued at $5,646,208,000 after purchasing an additional 72,267 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of United Rentals by 71.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,874,127 shares of the construction company’s stock valued at $1,411,968,000 after purchasing an additional 780,322 shares during the period. Franklin Resources Inc. boosted its holdings in United Rentals by 6.1% during the second quarter. Franklin Resources Inc. now owns 1,231,108 shares of the construction company’s stock worth $927,517,000 after buying an additional 70,870 shares during the last quarter. Alliancebernstein L.P. boosted its stake in United Rentals by 3.7% during the 2nd quarter. Alliancebernstein L.P. now owns 1,030,232 shares of the construction company’s stock worth $776,177,000 after acquiring an additional 36,991 shares during the last quarter. Finally, Norges Bank bought a new position in shares of United Rentals during the second quarter worth $776,102,000. 96.26% of the stock is currently owned by institutional investors.

United Rentals Trading Down 4.1%

NYSE URI opened at $917.28 on Monday. The business has a fifty day simple moving average of $843.26 and a 200 day simple moving average of $886.80. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $58.37 billion, a P/E ratio of 23.59, a PEG ratio of 1.91 and a beta of 1.69. United Rentals, Inc. has a 12 month low of $525.91 and a 12 month high of $1,021.47.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on URI shares. KeyCorp restated an “overweight” rating on shares of United Rentals in a report on Wednesday, December 3rd. Barclays lowered their price objective on shares of United Rentals from $620.00 to $600.00 and set an “underweight” rating on the stock in a research note on Monday, October 20th. Truist Financial reduced their price objective on shares of United Rentals from $1,169.00 to $1,045.00 and set a “buy” rating for the company in a research report on Thursday, December 18th. Royal Bank Of Canada set a $1,123.00 price target on United Rentals in a report on Friday, October 24th. Finally, Wells Fargo & Company boosted their price objective on shares of United Rentals from $995.00 to $1,071.00 and gave the company an “overweight” rating in a report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $970.76.

United Rentals Company Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.