Muhlenkamp & Co. Inc. Buys New Position in United Rentals, Inc. $URI

Muhlenkamp & Co. Inc. bought a new stake in United Rentals, Inc. (NYSE:URI) during the 2nd quarter, Holdings Channel.com reports. The firm bought 15,673 shares of the construction company’s stock, valued at approximately $17,756,000. United Rentals comprises approximately 5.1% of Muhlenkamp & Co. Inc.’s holdings, making the stock its 9th biggest position.

A number of other large investors have also recently bought and sold shares of URI. BlackRock Inc. acquired a new stake in shares of United Rentals in the second quarter valued at approximately $5,816,326,000. Capital World Investors boosted its holdings in United Rentals by 1.1% during the fourth quarter. Capital World Investors now owns 2,708,877 shares of the construction company’s stock worth $2,192,357,000 after purchasing an additional 30,263 shares during the last quarter. Franklin Resources Inc. grew its position in United Rentals by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company’s stock valued at $1,087,711,000 after purchasing an additional 28,895 shares in the last quarter. Norges Bank bought a new position in United Rentals in the fourth quarter valued at $978,017,000. Finally, Bank of America Corp DE acquired a new stake in United Rentals in the 2nd quarter valued at $944,196,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on URI shares. Weiss Ratings raised shares of United Rentals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 23rd. 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 research report on Thursday, July 23rd. Raymond James Financial reiterated an “outperform” rating and set a $1,275.00 target price on shares of United Rentals in a report on Wednesday, June 10th. Wall Street Zen raised United Rentals from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Finally, Robert W. Baird set a $1,300.00 price target on United Rentals in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,246.19.

United Rentals Stock Performance

Shares of NYSE URI opened at $1,030.64 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $64.15 billion, a P/E ratio of 24.75, a P/E/G ratio of 1.34 and a beta of 1.80. United Rentals, Inc. has a 12 month low of $701.59 and a 12 month high of $1,179.18. The stock has a 50 day moving average of $1,097.31 and a 200-day moving average of $957.16.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter in the prior year, the business earned $10.47 EPS. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, equities research analysts predict that United Rentals, Inc. will post 48.55 EPS for the current year.

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were issued a dividend of $1.97 per share. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $7.88 annualized dividend and a dividend yield of 0.8%. United Rentals’s payout ratio is presently 18.92%.

Insider Activity at United Rentals

In related news, EVP William E. Grace sold 1,500 shares of the company’s stock in a transaction dated 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 approximately $6,869,155.30. This represents a 19.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.47% of the company’s stock.

United Rentals Company 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.