D.A. Davidson & CO. Boosts Holdings in United Rentals, Inc. (NYSE:URI)

Posted by Defense World Staff on Apr 28th, 2023

D.A. Davidson & CO. grew its position in shares of United Rentals, Inc. (NYSE:URI – Get Rating) by 23.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,580 shares of the construction company’s stock after purchasing an additional 685 shares during the period. D.A. Davidson & CO.’s holdings in United Rentals were worth $1,272,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in URI. MUFG Americas Holdings Corp boosted its holdings in United Rentals by 1,900.0% in the third quarter. MUFG Americas Holdings Corp now owns 100 shares of the construction company’s stock worth $27,000 after purchasing an additional 95 shares during the period. Eagle Bay Advisors LLC acquired a new position in United Rentals in the second quarter worth $27,000. Trustcore Financial Services LLC boosted its holdings in United Rentals by 1,237.5% in the third quarter. Trustcore Financial Services LLC now owns 107 shares of the construction company’s stock worth $29,000 after purchasing an additional 99 shares during the period. Ronald Blue Trust Inc. lifted its stake in United Rentals by 185.1% in the third quarter. Ronald Blue Trust Inc. now owns 134 shares of the construction company’s stock valued at $32,000 after buying an additional 87 shares during the last quarter. Finally, AdvisorNet Financial Inc lifted its stake in United Rentals by 86.3% in the fourth quarter. AdvisorNet Financial Inc now owns 95 shares of the construction company’s stock valued at $34,000 after buying an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 89.65% of the company’s stock.

Insider Buying and Selling

In related news, CEO Matthew John Flannery sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $477.99, for a total value of $5,735,880.00. Following the completion of the sale, the chief executive officer now directly owns 101,276 shares in the company, valued at approximately $48,408,915.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on URI shares. StockNews.com started coverage on shares of United Rentals in a research note on Thursday, March 16th. They set a “hold” rating on the stock. Morgan Stanley cut their price objective on shares of United Rentals from $441.00 to $435.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 20th. KeyCorp lifted their price objective on shares of United Rentals from $425.00 to $515.00 and gave the company an “overweight” rating in a research note on Friday, January 27th. Wells Fargo & Company lifted their price objective on shares of United Rentals from $435.00 to $440.00 and gave the company an “overweight” rating in a research note on Tuesday, January 10th. Finally, Stifel Nicolaus lifted their price objective on shares of United Rentals from $450.00 to $505.00 and gave the company a “buy” rating in a research note on Friday, January 27th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, United Rentals has an average rating of “Hold” and a consensus target price of $433.62.

United Rentals Trading Down 4.6 %

Shares of NYSE URI opened at $357.66 on Friday. The stock has a market cap of $24.82 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 0.54 and a beta of 1.82. The business has a 50 day simple moving average of $405.01 and a 200 day simple moving average of $376.96. United Rentals, Inc. has a 52 week low of $230.54 and a 52 week high of $481.99. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.02 and a current ratio of 1.11.

United Rentals (NYSE:URI – Get Rating) last announced its quarterly earnings results on Wednesday, April 26th. The construction company reported $7.95 EPS for the quarter, missing the consensus estimate of $8.12 by ($0.17). United Rentals had a net margin of 17.65% and a return on equity of 37.68%. The firm had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.17 billion. During the same period in the previous year, the firm posted $5.73 EPS. The company’s quarterly revenue was up 30.2% compared to the same quarter last year. On average, research analysts predict that United Rentals, Inc. will post 42.18 earnings per share for the current fiscal year.

United Rentals Profile

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United Rentals, Inc engages in the equipment rental business. It operates through the General Rentals and Specialty segments. The General Rentals segment includes the rental of construction, aerial and industrial equipment, general tools and light equipment, and related services and activities. The Specialty segment focuses on the rental of specialty construction products such as trench safety equipment, power and HVAC equipment, fluid solutions equipment, mobile storage equipment and modular office space.