Freestone Grove Partners LP Makes New $78.65 Million Investment in United Rentals, Inc. $URI

Freestone Grove Partners LP bought a new position in United Rentals, Inc. (NYSE:URI) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 69,428 shares of the construction company’s stock, valued at approximately $78,654,000. Freestone Grove Partners LP owned 0.11% of United Rentals as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SFE Investment Counsel purchased a new position in shares of United Rentals during the 2nd quarter worth approximately $12,765,000. Eventide Asset Management LLC lifted its stake in United Rentals by 19.6% in the 4th quarter. Eventide Asset Management LLC now owns 95,940 shares of the construction company’s stock valued at $77,666,000 after buying an additional 15,696 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in United Rentals by 52.0% in the 4th quarter. Sequoia Financial Advisors LLC now owns 3,241 shares of the construction company’s stock valued at $2,623,000 after buying an additional 1,109 shares in the last quarter. Bridges Investment Management Inc. grew its holdings in United Rentals by 2.0% during the 4th quarter. Bridges Investment Management Inc. now owns 69,583 shares of the construction company’s stock valued at $56,315,000 after buying an additional 1,354 shares during the last quarter. Finally, WINTON GROUP Ltd grew its holdings in United Rentals by 995.1% during the 4th quarter. WINTON GROUP Ltd now owns 13,612 shares of the construction company’s stock valued at $11,016,000 after buying an additional 12,369 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on URI. Argus reissued a “buy” rating and issued a $1,250.00 price target on shares of United Rentals in a report on Tuesday, August 4th. Raymond James Financial reaffirmed an “outperform” rating and set a $1,275.00 price objective on shares of United Rentals in a research note on Wednesday, June 10th. KeyCorp reiterated an “overweight” rating and set a $1,350.00 price objective on shares of United Rentals in a research report on Friday, July 24th. UBS Group lifted their price target on shares of United Rentals from $1,300.00 to $1,350.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Finally, Robert W. Baird set a $1,300.00 price objective on shares of United Rentals in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,246.19.

Insider Buying and Selling

In other United Rentals news, EVP William E. Grace sold 1,500 shares of the company’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the completion of the sale, the executive vice president directly owned 6,062 shares in the company, valued at $6,869,155.30. This represents a 19.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.47% of the stock is owned by corporate insiders.

United Rentals Stock Performance

NYSE:URI opened at $1,058.50 on Thursday. The company has a market cap of $65.88 billion, a P/E ratio of 25.42, a P/E/G ratio of 1.36 and a beta of 1.80. The firm’s 50 day moving average is $1,099.04 and its two-hundred day moving average is $955.68. United Rentals, Inc. has a fifty-two week low of $701.59 and a fifty-two week high of $1,179.18. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.53 by $1.23. The company had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.22 billion. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the company earned $10.47 EPS. Analysts expect that United Rentals, Inc. will post 48.55 EPS for the current year.

United Rentals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were given a dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, August 12th. United Rentals’s payout ratio is 18.92%.

United Rentals Company Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.