JPMorgan Chase & Co. Increases Position in United Rentals, Inc. $URI

JPMorgan Chase & Co. grew its holdings in United Rentals, Inc. (NYSE:URI) by 71.3% in the second quarter, Holdings Channel reports. The institutional investor owned 1,874,127 shares of the construction company’s stock after acquiring an additional 780,322 shares during the quarter. JPMorgan Chase & Co.’s holdings in United Rentals were worth $1,411,968,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in URI. Vanguard Group Inc. grew its stake in United Rentals by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 7,494,303 shares of the construction company’s stock valued at $5,646,208,000 after acquiring an additional 72,267 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in United Rentals by 28.8% during the first quarter. The Manufacturers Life Insurance Company now owns 849,786 shares of the construction company’s stock valued at $532,561,000 after purchasing an additional 190,007 shares in the last quarter. Nordea Investment Management AB grew its position in shares of United Rentals by 6.4% in the second quarter. Nordea Investment Management AB now owns 749,276 shares of the construction company’s stock valued at $565,374,000 after purchasing an additional 44,854 shares during the period. Boston Partners grew its position in shares of United Rentals by 74.2% in the second quarter. Boston Partners now owns 713,934 shares of the construction company’s stock valued at $541,534,000 after purchasing an additional 304,062 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of United Rentals by 22.3% during the first quarter. Goldman Sachs Group Inc. now owns 661,251 shares of the construction company’s stock worth $414,406,000 after purchasing an additional 120,449 shares in the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Price Performance

NYSE:URI opened at $801.50 on Friday. United Rentals, Inc. has a one year low of $525.91 and a one year high of $1,021.47. The stock has a market cap of $51.00 billion, a PE ratio of 20.61, a P/E/G ratio of 1.97 and a beta of 1.73. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.84 and a current ratio of 0.90. The stock has a 50 day moving average price of $915.96 and a 200 day moving average price of $844.15.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, October 22nd. The construction company reported $11.70 earnings per share for the quarter, missing analysts’ consensus estimates of $12.43 by ($0.73). United Rentals had a return on equity of 31.30% and a net margin of 15.83%.The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same period last year, the firm posted $11.80 EPS. The business’s quarterly revenue was up 5.9% on a year-over-year basis. United Rentals has set its FY 2025 guidance at EPS. Equities research analysts expect that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th will be issued a $1.79 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 0.9%. United Rentals’s dividend payout ratio is currently 18.42%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on URI. Baird R W raised shares of United Rentals from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. KeyCorp restated an “overweight” rating on shares of United Rentals in a research report on Friday, October 24th. Royal Bank Of Canada set a $1,123.00 price target on United Rentals in a research note on Friday, October 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of United Rentals in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their price objective on United Rentals from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a report on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, United Rentals has a consensus rating of “Moderate Buy” and an average target price of $975.61.

About United Rentals

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.