Commerce Bank Buys Shares of 3,436 United Rentals, Inc. $URI

Commerce Bank purchased a new position in United Rentals, Inc. (NYSE:URI) in the second quarter, HoldingsChannel reports. The institutional investor purchased 3,436 shares of the construction company’s stock, valued at approximately $3,893,000.

A number of other institutional investors have also recently made changes to their positions in URI. PFG Investments LLC lifted its stake in United Rentals by 0.9% during the first quarter. PFG Investments LLC now owns 1,172 shares of the construction company’s stock worth $854,000 after purchasing an additional 11 shares during the last quarter. CoreCap Advisors LLC boosted its stake in United Rentals by 16.9% in the second quarter. CoreCap Advisors LLC now owns 76 shares of the construction company’s stock worth $86,000 after buying an additional 11 shares in the last quarter. Great Valley Advisor Group Inc. boosted its stake in United Rentals by 2.9% in the second quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock worth $292,000 after buying an additional 11 shares in the last quarter. Legacy Financial Advisors Inc. grew its position in United Rentals by 3.9% during the fourth quarter. Legacy Financial Advisors Inc. now owns 322 shares of the construction company’s stock valued at $260,000 after acquiring an additional 12 shares during the last quarter. Finally, Moss Adams Wealth Advisors LLC grew its holdings in shares of United Rentals by 2.0% during 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. Institutional investors own 96.26% of the company’s stock.

Wall Street Analysts Forecast Growth

URI has been the subject of a number of analyst reports. Argus reiterated a “buy” rating and set a $1,250.00 target price on shares of United Rentals in a report on Tuesday, August 4th. Zacks Research raised United Rentals from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. JPMorgan Chase & Co. upped their target price on shares of United Rentals from $1,100.00 to $1,235.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Raymond James Financial reaffirmed an “outperform” rating and set a $1,275.00 price objective on shares of United Rentals in a research report on Wednesday, June 10th. Finally, Evercore reiterated an “outperform” rating and set a $1,101.00 target price on shares of United Rentals in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,246.19.

United Rentals Stock Performance

Shares of NYSE:URI opened at $1,083.45 on Tuesday. The stock has a market capitalization of $67.43 billion, a P/E ratio of 26.02, a PEG ratio of 1.42 and a beta of 1.80. United Rentals, Inc. has a 52 week low of $701.59 and a 52 week high of $1,179.18. The firm has a fifty day simple moving average of $1,099.24 and a two-hundred day simple moving average of $952.76. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, beating 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 company had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the prior year, the firm posted $10.47 EPS. The firm’s revenue was up 11.8% compared to the same quarter last year. On average, analysts expect that United Rentals, Inc. will post 48.55 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be issued a dividend of $1.97 per share. The ex-dividend date 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 is currently 18.92%.

Insiders Place Their Bets

In related news, EVP William E. Grace sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the completion of the transaction, the executive vice president owned 6,062 shares in the company, valued at $6,869,155.30. The trade was a 19.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.47% of the stock is currently owned by 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.