Meeder Advisory Services Inc. Acquires Shares of 2,646 United Rentals, Inc. $URI

Meeder Advisory Services Inc. bought a new position in United Rentals, Inc. (NYSE:URI) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 2,646 shares of the construction company’s stock, valued at approximately $2,998,000.

A number of other large investors have also recently modified their holdings of the stock. PFG Investments LLC raised its stake in United Rentals by 0.9% in the first quarter. PFG Investments LLC now owns 1,172 shares of the construction company’s stock worth $854,000 after buying an additional 11 shares in the last quarter. CoreCap Advisors LLC grew its holdings in shares of United Rentals by 16.9% during the 2nd quarter. CoreCap Advisors LLC now owns 76 shares of the construction company’s stock worth $86,000 after acquiring an additional 11 shares during the period. Great Valley Advisor Group Inc. raised its position in shares of United Rentals by 2.9% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock worth $292,000 after acquiring an additional 11 shares in the last quarter. Legacy Financial Advisors Inc. lifted its stake in shares of United Rentals by 3.9% in the 4th quarter. Legacy Financial Advisors Inc. now owns 322 shares of the construction company’s stock valued at $260,000 after purchasing an additional 12 shares during the period. Finally, Moss Adams Wealth Advisors LLC boosted its position in shares of United Rentals by 2.0% during the first quarter. Moss Adams Wealth Advisors LLC now owns 605 shares of the construction company’s stock valued at $441,000 after purchasing an additional 12 shares in the last quarter. Institutional investors own 96.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on URI. Evercore reiterated an “outperform” rating and issued a $1,101.00 price objective on shares of United Rentals in a report on Monday, May 11th. Wall Street Zen upgraded shares of United Rentals from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Weiss Ratings raised shares of United Rentals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 23rd. Barclays boosted their price objective on shares of United Rentals from $715.00 to $950.00 and gave the stock an “underweight” rating in a research note on Friday, July 24th. Finally, Bank of America raised 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 research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,246.19.

United Rentals Price Performance

URI opened at $1,117.24 on Wednesday. The stock has a 50-day moving average price of $1,097.10 and a 200-day moving average price of $943.95. 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 firm has a market cap of $69.54 billion, a PE ratio of 26.83, a P/E/G ratio of 1.49 and a beta of 1.80. United Rentals, Inc. has a 1 year low of $701.59 and a 1 year high of $1,179.18.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, beating the consensus estimate of $11.53 by $1.23. The company 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%. United Rentals’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm posted $10.47 EPS. Sell-side analysts predict that United Rentals, Inc. will post 48.55 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The company 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 dividend of $1.97 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. United Rentals’s dividend payout ratio (DPR) is 18.92%.

Insiders Place Their Bets

In related news, EVP William E. Grace sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the completion of the transaction, the executive vice president directly owned 6,062 shares in the company, valued at $6,869,155.30. The trade was a 19.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is currently owned by insiders.

About United Rentals

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.