American Century Companies Inc. Raises Stock Position in United Rentals, Inc. (NYSE:URI)

Posted by on Sep 1st, 2023

American Century Companies Inc. lifted its holdings in shares of United Rentals, Inc. (NYSE:URI – Free Report) by 45.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,689 shares of the construction company’s stock after purchasing an additional 14,649 shares during the quarter. American Century Companies Inc. owned about 0.07% of United Rentals worth $18,375,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in URI. Envestnet Asset Management Inc. boosted its position in United Rentals by 2,080.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,850,311 shares of the construction company’s stock valued at $36,081,000 after buying an additional 1,765,460 shares during the period. Industrial Alliance Investment Management Inc. acquired a new position in United Rentals during the 1st quarter worth $20,027,000. Kovitz Investment Group Partners LLC purchased a new stake in United Rentals during the 1st quarter worth about $206,000. Rhumbline Advisers raised its position in United Rentals by 3.5% in the 1st quarter. Rhumbline Advisers now owns 146,842 shares of the construction company’s stock valued at $58,114,000 after purchasing an additional 4,977 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC boosted its stake in shares of United Rentals by 14.2% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 5,027 shares of the construction company’s stock valued at $1,989,000 after buying an additional 624 shares during the period. Institutional investors and hedge funds own 89.03% of the company’s stock.

United Rentals Trading Down 0.2 %

URI opened at $476.54 on Friday. The firm has a market cap of $32.54 billion, a price-to-earnings ratio of 14.50, a price-to-earnings-growth ratio of 0.70 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 business’s 50 day moving average is $453.70 and its two-hundred day moving average is $411.55. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 1.42.

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 the consensus estimate of $9.23 by $0.65. United Rentals had a net margin of 17.34% and a return on equity of 36.67%. The firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter last year, the business earned $7.86 earnings per share. The business’s revenue for the quarter was up 28.3% compared to the same quarter last year. On average, research analysts predict that United Rentals, Inc. will post 40.6 EPS for the current year.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.24%. The ex-dividend date was Tuesday, August 8th. United Rentals’s payout ratio is currently 18.02%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on URI. StockNews.com began coverage on shares of United Rentals in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Wells Fargo & Company raised their price objective on shares of United Rentals from $490.00 to $495.00 in a report on Friday, July 28th. Argus boosted their target price on shares of United Rentals from $425.00 to $460.00 in a research note on Tuesday, June 27th. 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. Finally, UBS Group increased their price objective on United Rentals from $458.00 to $527.00 in a report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, United Rentals has an average rating of “Hold” and an average target price of $455.25.

Get Our Latest Stock Report on United Rentals

United Rentals 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.

See Also

Institutional Ownership by Quarter for United Rentals (NYSE:URI)

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