Zurich Insurance Group Ltd FI Purchases New Holdings in United Rentals, Inc. (NYSE:URI)

Zurich Insurance Group Ltd FI bought a new position in United Rentals, Inc. (NYSE:URI) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,700 shares of the construction company’s stock, valued at approximately $1,947,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. First Financial Corp IN bought a new position in shares of United Rentals during the 1st quarter valued at $25,000. Crewe Advisors LLC bought a new position in shares of United Rentals during the 1st quarter valued at $27,000. AdvisorNet Financial Inc raised its holdings in shares of United Rentals by 71.4% during the 4th quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock valued at $28,000 after purchasing an additional 20 shares in the last quarter. Rise Advisors LLC bought a new position in shares of United Rentals during the 1st quarter valued at $28,000. Finally, Riverview Trust Co bought a new position in shares of United Rentals during the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Price Performance

URI stock traded down $10.06 during trading on Tuesday, hitting $734.75. 533,708 shares of the stock traded hands, compared to its average volume of 584,814. United Rentals, Inc. has a one year low of $387.01 and a one year high of $789.80. The stock has a market cap of $48.60 billion, a price-to-earnings ratio of 20.17, a P/E/G ratio of 2.23 and a beta of 1.71. The company has a 50 day simple moving average of $665.71 and a 200 day simple moving average of $664.92. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.48 by $0.22. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period last year, the firm posted $9.88 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. Equities analysts expect that United Rentals, Inc. will post 44.04 EPS for the current fiscal year.

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.89%. United Rentals’s payout ratio is 17.66%.

Insider Activity

In related news, COO Michael D. Durand sold 559 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $674.56, for a total value of $377,079.04. Following the completion of the transaction, the chief operating officer now owns 8,052 shares in the company, valued at approximately $5,431,557.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on URI shares. Citigroup started coverage on shares of United Rentals in a research note on Wednesday, June 26th. They issued a “buy” rating and a $745.00 target price on the stock. Truist Financial raised their target price on shares of United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a research note on Friday. The Goldman Sachs Group raised their price target on shares of United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a research report on Friday. Raymond James initiated coverage on shares of United Rentals in a research report on Friday, June 28th. They issued an “outperform” rating and a $750.00 price target on the stock. Finally, Stifel Nicolaus raised their price objective on shares of United Rentals from $720.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Three analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $670.92.

United Rentals Company Profile

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.