Keebeck Wealth Management Acquires New Shares in United Rentals, Inc. $URI

Keebeck Wealth Management bought a new stake in shares of United Rentals, Inc. (NYSE:URI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 773 shares of the construction company’s stock, valued at approximately $876,000.

Several other institutional investors have also recently made changes to their positions in URI. BlackRock Inc. purchased a new position in shares of United Rentals in the second quarter valued at $5,816,326,000. Norges Bank bought a new stake in shares of United Rentals during the 4th quarter valued at $978,017,000. Bank of New York Mellon Corp purchased a new stake in United Rentals during the 2nd quarter worth about $412,860,000. Corient Private Wealth LLC lifted its holdings in United Rentals by 1,667.4% during the 4th quarter. Corient Private Wealth LLC now owns 343,965 shares of the construction company’s stock worth $278,378,000 after purchasing an additional 324,503 shares in the last quarter. Finally, Deutsche Bank AG bought a new position in United Rentals in the 2nd quarter worth about $218,508,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Insider Transactions at United Rentals

In other United Rentals 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 value of $1,699,725.00. Following the completion of the transaction, the executive vice president owned 6,062 shares of the company’s stock, valued at $6,869,155.30. The trade was a 19.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.47% of the stock is currently owned by insiders.

United Rentals Price Performance

United Rentals stock opened at $1,095.21 on Friday. United Rentals, Inc. has a 52 week low of $701.59 and a 52 week high of $1,179.18. The business has a 50-day simple moving average of $1,099.22 and a 200 day simple moving average of $949.51. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38. The stock has a market cap of $68.17 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 1.41 and a beta of 1.80.

United Rentals (NYSE:URI) last released its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, beating the consensus estimate of $11.53 by $1.23. The firm had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.22 billion. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The company’s revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the firm posted $10.47 EPS. On average, research analysts forecast 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 given a dividend of $1.97 per share. The ex-dividend date is Wednesday, August 12th. This represents a $7.88 annualized dividend and a yield of 0.7%. United Rentals’s payout ratio is presently 18.92%.

Analyst Ratings Changes

URI has been the subject of a number of recent analyst reports. Bank of America lifted their target price on United Rentals from $1,195.00 to $1,300.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Truist Financial increased 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 report on Friday, July 24th. Wells Fargo & Company raised their price objective on shares of United Rentals from $1,245.00 to $1,355.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Morgan Stanley set a $1,335.00 price objective on shares of United Rentals and gave the company an “overweight” rating in a research note on Friday, July 24th. Finally, Barclays upped their target price on shares of United Rentals from $715.00 to $950.00 and gave the stock an “underweight” rating in a report on Friday, July 24th. One research 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’s stock. According to MarketBeat.com, United Rentals presently has a consensus rating of “Moderate Buy” and an average target price of $1,246.19.

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.