United Rentals, Inc. (NYSE:URI) Holdings Decreased by LPL Financial LLC

Posted by Defense World Staff on Aug 22nd, 2023

LPL Financial LLC decreased its holdings in shares of United Rentals, Inc. (NYSE:URI – Free Report) by 5.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,749 shares of the construction company’s stock after selling 4,486 shares during the quarter. LPL Financial LLC owned approximately 0.11% of United Rentals worth $30,770,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Impax Asset Management Group plc raised its stake in United Rentals by 5.1% during the first quarter. Impax Asset Management Group plc now owns 920,181 shares of the construction company’s stock worth $363,769,000 after acquiring an additional 44,854 shares during the period. WealthPLAN Partners LLC bought a new stake in United Rentals in the first quarter valued at $32,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in United Rentals in the first quarter valued at $977,000. Jag Capital Management LLC lifted its stake in United Rentals by 0.8% in the first quarter. Jag Capital Management LLC now owns 8,097 shares of the construction company’s stock valued at $3,205,000 after buying an additional 66 shares during the last quarter. Finally, Keybank National Association OH lifted its stake in United Rentals by 17.0% in the first quarter. Keybank National Association OH now owns 1,087 shares of the construction company’s stock valued at $430,000 after buying an additional 158 shares during the last quarter. Institutional investors and hedge funds own 91.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Argus raised their target price on United Rentals from $425.00 to $460.00 in a research note on Tuesday, June 27th. Robert W. Baird boosted their price objective on United Rentals from $300.00 to $320.00 and gave the stock an “underperform” rating in a research report on Thursday, July 27th. Stifel Nicolaus reduced their price objective on United Rentals from $505.00 to $498.00 in a research report on Friday, April 28th. Citigroup boosted their price objective on United Rentals from $450.00 to $515.00 and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Finally, Barclays boosted their price objective on United Rentals from $315.00 to $325.00 and gave the stock an “underweight” rating in a research report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $455.25.

Check Out Our Latest Stock Analysis on URI

United Rentals Stock Up 0.2 %

Shares of URI stock opened at $452.48 on Tuesday. United Rentals, Inc. has a 1 year low of $256.23 and a 1 year high of $492.21. The stock has a market cap of $30.90 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 0.69 and a beta of 1.89. The business’s fifty day moving average is $446.88 and its 200-day moving average is $411.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.69 and a current ratio of 0.74.

United Rentals (NYSE:URI – Get Free Report) last released its earnings results on Wednesday, July 26th. The construction company reported $9.88 EPS for the quarter, topping analysts’ consensus estimates of $9.23 by $0.65. United Rentals had a net margin of 17.34% and a return on equity of 36.67%. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same period in the previous year, the firm earned $7.86 EPS. The business’s revenue for the quarter was up 28.3% on a year-over-year basis. Equities analysts expect that United Rentals, Inc. will post 40.63 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th will be issued a $1.48 dividend. 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 currently 18.02%.

About United Rentals

(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.