Hollencrest Capital Management Increases Stock Position in United Rentals, Inc. (NYSE:URI)

08 Nov 2024, 16:40 by Kim Johansen · The Markets Daily

Hollencrest Capital Management lifted its holdings in shares of United Rentals, Inc. (NYSE:URI – Free Report) by 1.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,533 shares of the construction company’s stock after buying an additional 27 shares during the period. Hollencrest Capital Management’s holdings in United Rentals were worth $1,241,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of United Rentals by 11.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,203 shares of the construction company’s stock valued at $7,492,000 after acquiring an additional 964 shares during the period. Essex Financial Services Inc. boosted its position in United Rentals by 31.9% during the second quarter. Essex Financial Services Inc. now owns 563 shares of the construction company’s stock worth $364,000 after purchasing an additional 136 shares in the last quarter. Forsta AP Fonden grew its holdings in United Rentals by 2.8% in the first quarter. Forsta AP Fonden now owns 14,600 shares of the construction company’s stock valued at $10,528,000 after purchasing an additional 400 shares during the last quarter. Tidal Investments LLC grew its stake in United Rentals by 241.2% in the 1st quarter. Tidal Investments LLC now owns 4,859 shares of the construction company’s stock valued at $3,504,000 after acquiring an additional 3,435 shares during the last quarter. Finally, BDF Gestion purchased a new position in shares of United Rentals during the 2nd quarter worth approximately $2,998,000. 96.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Anthony S. Leopold sold 900 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $823.24, for a total value of $740,916.00. Following the completion of the sale, the senior vice president now owns 2,044 shares in the company, valued at approximately $1,682,702.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.53% of the company’s stock.

United Rentals Trading Up 1.4 %

Shares of United Rentals stock traded up $11.78 during trading hours on Friday, reaching $874.21. The stock had a trading volume of 130,846 shares, compared to its average volume of 546,842. The firm has a 50 day simple moving average of $789.13 and a two-hundred day simple moving average of $718.04. The firm has a market capitalization of $57.37 billion, a price-to-earnings ratio of 22.51, a P/E/G ratio of 2.06 and a beta of 1.68. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38. United Rentals, Inc. has a 1 year low of $435.80 and a 1 year high of $888.62.

United Rentals (NYSE:URI – Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.01 billion. United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the business earned $11.73 earnings per share. As a group, equities research analysts anticipate that United Rentals, Inc. will post 43.66 earnings per share for the current year.

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.75%. United Rentals’s dividend payout ratio (DPR) is currently 17.03%.

Analyst Ratings Changes

URI has been the subject of a number of analyst reports. Bank of America boosted their price target on United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Evercore ISI upped their target price on shares of United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Barclays boosted their price objective on shares of United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Citigroup raised their target price on shares of United Rentals from $930.00 to $955.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Truist Financial boosted their price target on United Rentals from $954.00 to $955.00 and gave the company a “buy” rating in a report on Friday, October 25th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $742.50.

Check Out Our Latest Analysis on URI

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.