364,431 Shares in United Rentals, Inc. $URI Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp bought a new stake in shares of United Rentals, Inc. (NYSE:URI) in the second quarter, Holdings Channel reports. The fund bought 364,431 shares of the construction company’s stock, valued at approximately $412,860,000.

Several other large investors have also recently modified their holdings of URI. Capital World Investors raised its stake in shares of United Rentals by 1.1% during the 4th quarter. Capital World Investors now owns 2,708,877 shares of the construction company’s stock valued at $2,192,357,000 after purchasing an additional 30,263 shares during the period. Franklin Resources Inc. increased its holdings in United Rentals by 2.2% during the 4th quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company’s stock worth $1,087,711,000 after acquiring an additional 28,895 shares during the period. Norges Bank bought a new position in United Rentals in the 4th quarter valued at $978,017,000. Bank of America Corp DE grew its position in United Rentals by 14.7% during the first quarter. Bank of America Corp DE now owns 806,380 shares of the construction company’s stock worth $587,496,000 after buying an additional 103,371 shares in the last quarter. Finally, Boston Partners raised its stake in United Rentals by 4.0% in the fourth quarter. Boston Partners now owns 774,347 shares of the construction company’s stock valued at $631,459,000 after purchasing an additional 29,675 shares in the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Insider Buying and Selling at United Rentals

In other news, EVP William E. Grace sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The stock was 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 ownership of the stock. 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 company insiders.

United Rentals Stock Performance

NYSE URI opened at $1,095.21 on Friday. United Rentals, Inc. has a fifty-two week low of $701.59 and a fifty-two week high of $1,179.18. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.70 and a current ratio of 0.76. The company has a market cap of $68.17 billion, a P/E ratio of 26.30, a P/E/G ratio of 1.41 and a beta of 1.80. The business’s 50 day moving average price is $1,099.22 and its 200-day moving average price is $949.51.

United Rentals (NYSE:URI) last issued its earnings results 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 return on equity of 31.72% and a net margin of 15.67%.The business had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.22 billion. During the same period in the prior year, the business earned $10.47 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. Sell-side analysts predict that United Rentals, Inc. will post 48.55 earnings per share for the current year.

United Rentals Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on URI shares. JPMorgan Chase & Co. upped their price objective on United Rentals from $1,100.00 to $1,235.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. KeyCorp reiterated an “overweight” rating and set a $1,350.00 price target on shares of United Rentals in a research report on Friday, July 24th. Raymond James Financial restated an “outperform” rating and set a $1,275.00 target price on shares of United Rentals in a report on Wednesday, June 10th. Evercore reaffirmed an “outperform” rating and set a $1,101.00 target price on shares of United Rentals in a research note on Monday, May 11th. Finally, Truist Financial upped their price target on shares of United Rentals from $1,421.00 to $1,466.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,246.19.

About United Rentals

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.