Lombard Odier Asset Management Europe Ltd Takes $7.38 Million Position in United Rentals, Inc. $URI

Lombard Odier Asset Management Europe Ltd purchased a new position in United Rentals, Inc. (NYSE:URI) during the first quarter, Holdings Channel reports. The fund purchased 10,133 shares of the construction company’s stock, valued at approximately $7,382,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Waverly Advisors LLC lifted its holdings in United Rentals by 28.8% in the first quarter. Waverly Advisors LLC now owns 2,037 shares of the construction company’s stock worth $1,484,000 after buying an additional 456 shares during the period. Entropy Technologies LP grew its holdings in shares of United Rentals by 18.7% during the 1st quarter. Entropy Technologies LP now owns 18,515 shares of the construction company’s stock worth $13,489,000 after acquiring an additional 2,913 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of United Rentals by 2,681.6% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 69,958 shares of the construction company’s stock worth $50,969,000 after acquiring an additional 67,443 shares in the last quarter. Gabelli Funds LLC raised its position in shares of United Rentals by 10.2% in the 1st quarter. Gabelli Funds LLC now owns 43,967 shares of the construction company’s stock worth $32,033,000 after acquiring an additional 4,067 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its stake in shares of United Rentals by 0.9% in the 1st quarter. Gamco Investors INC. ET AL now owns 31,521 shares of the construction company’s stock valued at $22,965,000 after purchasing an additional 290 shares during the period. Institutional investors own 96.26% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Craig Adam Pintoff sold 2,466 shares of United Rentals stock in a transaction on Monday, April 27th. The stock was sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the transaction, the executive vice president directly owned 14,774 shares in the company, valued at approximately $14,227,362. The trade was a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Joli L. Gross sold 306 shares of the business’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $954.99, for a total value of $292,226.94. Following the sale, the senior vice president directly owned 5,738 shares of the company’s stock, valued at $5,479,732.62. This represents a 5.06% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.47% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on URI. Evercore restated an “outperform” rating and set a $1,101.00 price target on shares of United Rentals in a research report on Monday, May 11th. Wells Fargo & Company increased their price objective on United Rentals from $1,245.00 to $1,355.00 and gave the stock an “overweight” rating in a report on Friday. Bank of America boosted their target price on shares of United Rentals from $1,195.00 to $1,300.00 and gave the company a “buy” rating in a report on Thursday. KeyCorp reaffirmed an “overweight” rating and issued a $1,350.00 target price on shares of United Rentals in a research report on Friday. Finally, Robert W. Baird set a $1,300.00 target price on shares of United Rentals in a research report on Friday. Fifteen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,226.50.

United Rentals News Roundup

Here are the key news stories impacting United Rentals this week:

• Positive Sentiment: JPMorgan raised its price target on United Rentals to $1,235 and kept an overweight rating, signaling confidence in continued upside. JPMorgan price target increase
• Positive Sentiment: Truist boosted its target to $1,466 and maintained a buy rating, reflecting a more optimistic view of URI’s earnings power and demand trends. Truist price target increase
• Positive Sentiment: Citigroup raised its target to $1,330 with a buy rating after the company’s strong Q2 results and improved guidance. Citigroup price target increase
• Positive Sentiment: Bank of America increased its target to $1,300 and reiterated a buy rating, adding to the positive analyst momentum around the stock. Bank of America price target increase
• Positive Sentiment: United Rentals reported Q2 earnings of $12.76 per share and revenue of $4.41 billion, both ahead of expectations, and raised full-year guidance on stronger rental growth and demand. Q2 earnings beat and guidance raise
• Neutral Sentiment: The company also declared a quarterly dividend of $1.97 per share, which is a modest shareholder-return update but not likely the main driver of today’s trading. Dividend announcement

United Rentals Stock Performance

Shares of NYSE URI opened at $1,140.19 on Friday. United Rentals, Inc. has a 12-month low of $701.59 and a 12-month high of $1,177.67. The firm has a market capitalization of $70.97 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 1.82 and a beta of 1.79. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 1.38. The firm has a 50 day moving average of $1,052.87 and a 200 day moving average of $919.10.

United Rentals (NYSE:URI) last released its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, topping the consensus estimate of $11.53 by $1.23. The business had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period last year, the firm earned $10.47 earnings per share. On average, research analysts anticipate that United Rentals, Inc. will post 47.32 earnings per share for the current year.

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be issued a $1.97 dividend. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, August 12th. United Rentals’s dividend payout ratio (DPR) is currently 18.92%.

United Rentals 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.