United Rentals, Inc. (NYSE:URI) Shares Acquired by MAI Capital Management

Posted by Defense World Staff on Aug 21st, 2023

MAI Capital Management increased its stake in United Rentals, Inc. (NYSE:URI – Free Report) by 42.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,821 shares of the construction company’s stock after acquiring an additional 836 shares during the period. MAI Capital Management’s holdings in United Rentals were worth $1,116,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of URI. Norges Bank acquired a new stake in shares of United Rentals in the fourth quarter valued at $586,415,000. Moneta Group Investment Advisors LLC raised its stake in United Rentals by 104,089.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,341,964 shares of the construction company’s stock valued at $476,961,000 after buying an additional 1,340,676 shares in the last quarter. Findlay Park Partners LLP acquired a new stake in United Rentals in the fourth quarter valued at $137,604,000. Perpetual Ltd acquired a new stake in United Rentals in the first quarter valued at $98,137,000. Finally, Putnam Investments LLC raised its stake in United Rentals by 26.7% in the fourth quarter. Putnam Investments LLC now owns 1,152,775 shares of the construction company’s stock valued at $409,719,000 after buying an additional 243,136 shares in the last quarter. 91.46% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Price Performance

Shares of NYSE:URI opened at $451.41 on Monday. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 1.42. The company has a market cap of $30.82 billion, a P/E ratio of 13.74, a PEG ratio of 0.69 and a beta of 1.89. United Rentals, Inc. has a 52 week low of $256.23 and a 52 week high of $492.21. The company has a 50-day moving average price of $445.64 and a 200 day moving average price of $411.14.

United Rentals (NYSE:URI – Get Free Report) last announced its quarterly earnings data on Wednesday, July 26th. The construction company reported $9.88 EPS for the quarter, beating analysts’ consensus estimates of $9.23 by $0.65. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.45 billion. United Rentals had a net margin of 17.34% and a return on equity of 36.67%. The firm’s revenue was up 28.3% compared to the same quarter last year. During the same quarter last year, the firm earned $7.86 earnings per share. Research analysts predict that United Rentals, Inc. will post 40.63 earnings per share for the current year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th will be given a dividend of $1.48 per share. The ex-dividend date is Tuesday, August 8th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.31%. United Rentals’s payout ratio is 18.02%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on URI. KeyCorp raised their price target on United Rentals from $520.00 to $525.00 and gave the company an “overweight” rating in a research note on Friday, July 28th. Robert W. Baird raised their price objective on United Rentals from $300.00 to $320.00 and gave the stock an “underperform” rating in a report on Thursday, July 27th. Barclays raised their price objective on United Rentals from $315.00 to $325.00 and gave the stock an “underweight” rating in a report on Monday, July 31st. StockNews.com initiated coverage on United Rentals in a report on Thursday. They set a “hold” rating on the stock. Finally, Stifel Nicolaus lowered their price target on United Rentals from $505.00 to $498.00 in a report on Friday, April 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, United Rentals presently has an average rating of “Hold” and a consensus target price of $455.25.

View Our Latest Stock Analysis on United Rentals

United Rentals Company Profile

(Free Report)

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.