On September 24, 2023, Tennessee Valley Asset Management Partners revealed that they had acquired a new position in shares of United Rentals, Inc. (NYSE: URI) during the second quarter. According to their most recent filing with the SEC, the institutional investor obtained 490 shares of the construction company’s stock, valued at approximately $218,000.
Various equities research analysts have shared their views on United Rentals’ stock. In a research note published on August 17th, StockNews.com initiated coverage on the shares and issued a “hold” rating. UBS Group also expressed their opinion by raising their price target on July 12th from $458.00 to $527.00. Furthermore, Citigroup increased its price target to $515.00 and gave the company a “buy” rating in a research note dated July 18th. Argus also joined in by raising their price objective from $425.00 to $460.00 on June 27th. Additionally, Barclays elevated their price objective to $325.00 and assigned an “underweight” rating in a note released on July 31st. To summarize, while two analysts have rated the stock as sell, three uphold it as hold, and eight recommend buying it. Bloomberg states that according to these findings, United Rentals presently has an average rating of “Hold” and an average consensus price target of $455.25.
On Friday, United Rentals’ stock opened at $433.29 per share.The company carries a debt-to-equity ratio of 1.42 and exhibits a quick ratio of 0.69 along with a current ratio of 0.74.The firm boasts a market capitalization of $29.59 billion with a price-to-earnings ratio of 13.19 and possesses a beta value of1 .88.Notably,the company experienced both its highest point for one year at$ 492.33 and its lowest at $256.23 during the year. As of the last update, United Rentals’ 50-day moving average price stands at $461.65, while its two-hundred day moving average price is recorded as $411.33.
In conclusion, Tennessee Valley Asset Management Partners recognized an opportunity in United Rentals and acquired a new position in the company’s stock during the second quarter. The research analysts who have commented on United Rentals’ stock have offered mixed opinions on its performance, leading to an average rating of “Hold” and a consensus price target of $455.25 for the company’s shares. Despite these analyst perspectives, United Rentals has demonstrated a stable market opening price of $433.29 per share on September 24th, 2023, with a well-balanced debt-to-equity ratio and healthy liquidity ratios.
Avanos Medical, Inc.
Updated on: 05/12/2023
Debt to equity ratio: Neutral
Price to earnings ratio: Strong Buy
Price to book ratio: Buy
DCF: Strong Buy
8:00 AM (UTC)
Date:05 December, 2023
|Analyst / firm||Rating|
United Rentals: Growing Institutional Interest and COO Share Sale Highlight Investment Potential
September 24, 2023
United Rentals: Institutional Investors Increase Stakes and COO Sells Shares
The construction industry has always been a competitive market, with companies constantly searching for ways to enhance their operations. United Rentals Inc. (NYSE:URI), a leading construction equipment rental company, continues to captivate the attention of both institutional investors and equities research analysts.
Several institutional investors have recently added to or reduced their stakes in United Rentals. MUFG Americas Holdings Corp propelled its stake in the company by an astounding 1,900.0% during the third quarter. The firm now possesses 100 shares of United Rentals’ stock worth $27,000 after purchasing an additional 95 shares in the last quarter. Another player in the field, Eagle Bay Advisors LLC, acquired a new stake in United Rentals valued at approximately $27,000 during the second quarter.
Furthermore, IAG Wealth Partners LLC and WealthPLAN Partners LLC also made strategic moves by acquiring new stakes in United Rentals during the first quarter. IAG Wealth Partners valued its newly acquired stake at approximately $30,000 while WealthPLAN Partners assessed theirs at around $32,000. Brown Brothers Harriman & Co., on the other hand, increased its stake significantly by 138.2% during the same period.
It is important to note that these investments do not only represent financial gain but also highlight confidence in United Rentals as an attractive investment opportunity within the construction industry. Currently, 89.03% of United Rental’s stock is owned by institutional investors.
In another development within the company, Chief Operating Officer (COO) Dale A. Asplund made headlines when he sold 14,157 shares of United Rentals’ stock on August 30th at an average price of $475.27 per share. The sale amounted to a total value of $6,728,397.39. Following this transaction, Asplund now owns 6,379 shares of the company’s stock, valued at approximately $3,031,747.33. This disclosure was made public through a document filed with the Securities & Exchange Commission (SEC), which can be accessed on the SEC website. It should be noted that company insiders own a mere 0.53% of United Rentals’ stock.
Equities research analysts have also weighed in on United Rentals’ performance and potential prospects for investors. StockNews.com recently initiated coverage by issuing a “hold” rating on the stock. UBS Group raised its price target to $527.00 from $458.00, while Citigroup raised its price target to $515.00 and gave the company a “buy” rating in their research notes dated July 12th and July 18th, respectively. Argus further increased the price objective to $460.00 on June 27th, while Barclays revealed an “underweight” rating with a price objective of $325.00 on July 31st.
With two analysts giving it a sell rating, three analysts maintaining a hold rating, and eight analysts issuing buy ratings, United Rentals has garnered an average rating of “Hold.” The consensus price target for United Rentals currently stands at $455.25 according to Bloomberg.
United Rentals recently released its quarterly earnings results for the period ending on July 26th. The construction equipment rental giant reported impressive earnings per share (EPS) of $9.88 for the quarter—exceeding market expectations by $0.65 per share as consensus estimates predicted EPS of $9.23.
Moreover, United Rentals achieved revenue figures of $3.55 billion during the quarter compared to analyst estimates of $3.45 billion—an uptick of 28.3% year-over-year growth for the same quarter last year.
The firm’s robust financial performance is reflected in its net margin of 17.34% and an impressive return on equity of 36.67%. These positive indicators indicate that United Rentals has strategically capitalized on market opportunities and competitive advantages to drive growth.
As for the shareholders, United Rentals announced a quarterly dividend payment. The dividend of $1.48 per share was paid out on August 23rd to investors of record as of August 9th. This represents an annualized dividend amount of $5.92 per share with a yield of 1.37%. Notably, the ex-dividend date for this payout was celebrated on August 8th.
In conclusion, United Rentals continues to be an intriguing investment opportunity within the construction industry, stimulating increased stake purchases by institutional investors. The recent sale of shares by the COO further highlights the complexity of company stakeholders and their involvement in United Rentals’ stock trading. Additionally, equities research analysts have lauded the company’s financial performance and assigned its stock a range of ratings from sell to buy. With promising earnings results, robust growth, and a solid dividend payout ratio, United Rentals demonstrates resilience and potential in this ever-changing market landscape.