United Rentals, Inc. $URI Stock Purchased by Traynor Capital Management Inc.

Traynor Capital Management Inc. raised its stake in United Rentals, Inc. (NYSE:URI) by 4.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,653 shares of the construction company’s stock after acquiring an additional 592 shares during the period. Traynor Capital Management Inc.’s holdings in United Rentals were worth $12,663,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of United Rentals in the 2nd quarter worth approximately $5,816,326,000. State Street Corp boosted its position in United Rentals by 1.1% during the 2nd quarter. State Street Corp now owns 2,993,837 shares of the construction company’s stock valued at $3,391,688,000 after purchasing an additional 32,238 shares during the period. International Assets Investment Management LLC grew its stake in United Rentals by 88,861.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,499,000 shares of the construction company’s stock worth $1,545,000 after buying an additional 1,497,315 shares during the last quarter. Bank of America Corp DE bought a new position in United Rentals during the 2nd quarter worth $944,196,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in United Rentals in the second quarter worth $716,129,000. 96.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on URI. Weiss Ratings reiterated a “buy (b-)” rating on shares of United Rentals in a research note on Wednesday, October 21st. JPMorgan Chase & Co. lowered shares of United Rentals from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $1,235.00 to $1,170.00 in a research report on Thursday, September 10th. Bank of America reaffirmed a “buy” rating on shares of United Rentals in a report on Thursday, October 22nd. Sanford C. Bernstein set a $1,258.00 price objective on shares of United Rentals in a report on Friday, October 23rd. Finally, Truist Financial lifted their price objective on shares of United Rentals from $1,395.00 to $1,450.00 and gave the company a “buy” rating in a research report on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, United Rentals currently has a consensus rating of “Moderate Buy” and an average target price of $1,288.19.

United Rentals Stock Down 0.2%

URI opened at $1,167.43 on Monday. The stock’s 50 day moving average price is $1,049.13 and its 200 day moving average price is $970.70. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.80 and a quick ratio of 0.73. The stock has a market cap of $72.29 billion, a P/E ratio of 25.66, a P/E/G ratio of 1.65 and a beta of 1.82. United Rentals, Inc. has a 12 month low of $701.59 and a 12 month high of $1,202.12.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, October 21st. The construction company reported $15.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $13.97 by $1.58. United Rentals had a return on equity of 33.47% and a net margin of 16.33%. The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.71 billion. During the same quarter in the previous year, the firm posted $11.70 EPS. The firm’s quarterly revenue was up 15.7% on a year-over-year basis. As a group, research analysts predict that United Rentals, Inc. will post 51.17 earnings per share for the current year.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Wednesday, November 11th will be paid a dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, November 10th. United Rentals’s payout ratio is currently 17.32%.

United Rentals Profile

United Rentals, Inc is an equipment rental company serving construction, industrial, infrastructure, utilities, government and other commercial customers. The company provides access to equipment and related services through a network of rental locations, helping customers manage projects without purchasing and maintaining all of the equipment they need.

Its rental fleet includes aerial work platforms, earthmoving equipment, material-handling equipment, general construction tools, trucks and trailers, and light-duty equipment.