Perigon Wealth Management LLC Invests $966,000 in United Rentals, Inc. $URI

Perigon Wealth Management LLC acquired a new position in shares of United Rentals, Inc. (NYSE:URI) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 852 shares of the construction company’s stock, valued at approximately $966,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. PFG Investments LLC raised its holdings in shares of United Rentals by 0.9% in the first quarter. PFG Investments LLC now owns 1,172 shares of the construction company’s stock worth $854,000 after acquiring an additional 11 shares during the last quarter. CoreCap Advisors LLC boosted its stake in shares of United Rentals by 16.9% during the second quarter. CoreCap Advisors LLC now owns 76 shares of the construction company’s stock valued at $86,000 after acquiring an additional 11 shares during the last quarter. Great Valley Advisor Group Inc. boosted its stake in shares of United Rentals by 2.9% during the second quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock valued at $292,000 after acquiring an additional 11 shares during the last quarter. Legacy Financial Advisors Inc. increased its position in United Rentals by 3.9% during the 4th quarter. Legacy Financial Advisors Inc. now owns 322 shares of the construction company’s stock worth $260,000 after purchasing an additional 12 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC raised its stake in United Rentals by 2.0% in the 1st quarter. Moss Adams Wealth Advisors LLC now owns 605 shares of the construction company’s stock valued at $441,000 after purchasing an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Stock Down 4.1%

Shares of NYSE:URI opened at $1,117.24 on Wednesday. The stock’s 50-day moving average price is $1,097.10 and its two-hundred day moving average price is $943.95. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38. United Rentals, Inc. has a 12-month low of $701.59 and a 12-month high of $1,179.18. The firm has a market cap of $69.54 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 1.49 and a beta of 1.80.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, topping the consensus estimate of $11.53 by $1.23. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same period in the prior year, the firm posted $10.47 EPS. The company’s revenue was up 11.8% on a year-over-year basis. On average, research analysts forecast that United Rentals, Inc. will post 48.55 EPS for the current year.

United Rentals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be paid a dividend of $1.97 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. United Rentals’s dividend payout ratio (DPR) is currently 18.92%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on URI shares. Raymond James Financial restated an “outperform” rating and issued a $1,275.00 target price on shares of United Rentals in a report on Wednesday, June 10th. JPMorgan Chase & Co. lifted their price target on shares of United Rentals from $1,100.00 to $1,235.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Barclays boosted their price objective on shares of United Rentals from $715.00 to $950.00 and gave the company an “underweight” rating in a research report on Friday, July 24th. Evercore reissued an “outperform” rating and set a $1,101.00 price objective on shares of United Rentals in a research note on Monday, May 11th. Finally, KeyCorp restated an “overweight” rating and set a $1,350.00 target price on shares of United Rentals in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, United Rentals currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,246.19.

Insiders Place Their Bets

In other United Rentals news, EVP William E. Grace sold 1,500 shares of United Rentals stock in a transaction on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the transaction, the executive vice president owned 6,062 shares in the company, valued at $6,869,155.30. This trade represents a 19.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is currently owned by corporate insiders.

United Rentals 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.