UNIVEST FINANCIAL Corp Invests $16.72 Million in United Rentals, Inc. $URI

UNIVEST FINANCIAL Corp bought a new position in shares of United Rentals, Inc. (NYSE:URI) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 14,756 shares of the construction company’s stock, valued at approximately $16,717,000. United Rentals makes up 0.8% of UNIVEST FINANCIAL Corp’s investment portfolio, making the stock its 25th biggest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in URI. MidFirst Bank purchased a new position in United Rentals in the 2nd quarter worth approximately $31,000. Core Wealth Advisors LLC purchased a new stake in United Rentals during the 4th quarter valued at approximately $28,000. MV Capital Management Inc. purchased a new stake in United Rentals during the 4th quarter valued at approximately $28,000. Bell Investment Advisors Inc bought a new stake in shares of United Rentals during the second quarter valued at approximately $40,000. Finally, Laurel Wealth Advisors LLC bought a new stake in shares of United Rentals during the fourth quarter valued at approximately $32,000. Institutional investors own 96.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on URI. JPMorgan Chase & Co. upped their target price on shares of United Rentals from $1,100.00 to $1,235.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Argus reiterated a “buy” rating and issued a $1,250.00 price target on shares of United Rentals in a report on Tuesday, August 4th. Bank of America boosted their price target on shares of United Rentals from $1,195.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. KeyCorp reissued an “overweight” rating and set a $1,350.00 price objective on shares of United Rentals in a report on Friday, July 24th. Finally, Citigroup raised their price objective on United Rentals from $1,270.00 to $1,330.00 and gave the company a “buy” rating 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,246.19.

Insider Buying and Selling

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

United Rentals Trading Up 1.1%

Shares of URI stock opened at $1,166.11 on Tuesday. United Rentals, Inc. has a 1 year low of $701.59 and a 1 year high of $1,179.18. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.70. The stock’s 50 day simple moving average is $1,096.63 and its two-hundred day simple moving average is $942.44. The company has a market cap of $72.58 billion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 1.49 and a beta of 1.80.

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

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be given a $1.97 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. 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.