Canada Pension Plan Investment Board Increases Stake in United Rentals, Inc. (NYSE:URI)

Canada Pension Plan Investment Board raised its holdings in shares of United Rentals, Inc. (NYSE:URI) by 483.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,757 shares of the construction company’s stock after acquiring an additional 37,919 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.07% of United Rentals worth $32,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of URI. Rialto Wealth Management LLC purchased a new position in United Rentals during the fourth quarter valued at $25,000. ORG Wealth Partners LLC bought a new position in shares of United Rentals during the 4th quarter valued at approximately $26,000. Murphy & Mullick Capital Management Corp bought a new stake in United Rentals during the 4th quarter worth approximately $27,000. Meeder Asset Management Inc. boosted its position in shares of United Rentals by 241.7% in the fourth quarter. Meeder Asset Management Inc. now owns 41 shares of the construction company’s stock worth $29,000 after purchasing an additional 29 shares during the period. Finally, Hanson & Doremus Investment Management purchased a new stake in shares of United Rentals in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Insiders Place Their Bets

In other news, CFO William E. Grace sold 1,100 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $638.10, for a total transaction of $701,910.00. Following the completion of the sale, the chief financial officer now directly owns 6,880 shares of the company’s stock, valued at approximately $4,390,128. The trade was a 13.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on URI shares. JPMorgan Chase & Co. cut their price target on United Rentals from $1,000.00 to $750.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Truist Financial dropped their price target on United Rentals from $956.00 to $732.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. UBS Group cut shares of United Rentals from a “buy” rating to a “sell” rating and reduced their price objective for the company from $910.00 to $485.00 in a research report on Monday, April 7th. Evercore ISI dropped their target price on shares of United Rentals from $1,004.00 to $974.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Finally, Baird R W raised shares of United Rentals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $729.79.

United Rentals Trading Up 1.0 %

URI stock opened at $590.80 on Friday. United Rentals, Inc. has a twelve month low of $525.91 and a twelve month high of $896.98. The stock has a market capitalization of $38.60 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 1.43 and a beta of 1.72. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. The firm’s fifty day simple moving average is $628.94 and its two-hundred day simple moving average is $733.18.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, January 29th. The construction company reported $11.59 EPS for the quarter, missing the consensus estimate of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. As a group, analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 1.21%. The ex-dividend date was Wednesday, February 12th. This is an increase from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s dividend payout ratio is 18.48%.

About United Rentals

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.