Caisse DE Depot ET Placement DU Quebec Reduces Stock Position in United Rentals, Inc. (NYSE:URI)

Caisse DE Depot ET Placement DU Quebec reduced its position in shares of United Rentals, Inc. (NYSE:URI) by 45.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,158 shares of the construction company’s stock after selling 16,675 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in United Rentals were worth $16,323,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. FMR LLC lifted its holdings in United Rentals by 3.7% in the third quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock worth $1,956,768,000 after buying an additional 85,325 shares during the period. International Assets Investment Management LLC lifted its holdings in United Rentals by 82,462.2% in the third quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock worth $1,300,962,000 after buying an additional 1,604,715 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in United Rentals by 10.5% in the third quarter. The Manufacturers Life Insurance Company now owns 704,145 shares of the construction company’s stock worth $570,167,000 after buying an additional 66,957 shares during the period. AMF Tjanstepension AB lifted its holdings in United Rentals by 77.7% in the second quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock worth $295,626,000 after buying an additional 199,810 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in United Rentals by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 438,427 shares of the construction company’s stock worth $355,007,000 after buying an additional 5,325 shares during the period. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

United Rentals Trading Up 1.1 %

Shares of United Rentals stock opened at $866.00 on Monday. The company’s fifty day simple moving average is $828.46 and its 200-day simple moving average is $737.98. The stock has a market capitalization of $56.83 billion, a PE ratio of 22.62, a P/E/G ratio of 2.03 and a beta of 1.68. United Rentals, Inc. has a 1-year low of $473.58 and a 1-year high of $896.98. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.82 and a quick ratio of 0.77.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share for the quarter, missing the consensus estimate of $12.49 by ($0.69). The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.01 billion. United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $11.73 EPS. As a group, equities analysts anticipate that United Rentals, Inc. will post 43.46 earnings per share for the current year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Wednesday, November 13th. United Rentals’s dividend payout ratio is presently 17.03%.

Wall Street Analysts Forecast Growth

URI has been the subject of several research analyst reports. Argus raised their price objective on shares of United Rentals from $840.00 to $880.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Evercore ISI raised their price objective on shares of United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Citigroup raised their target price on shares of United Rentals from $930.00 to $955.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Bank of America raised their target price on shares of United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. raised their target price on shares of United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $751.67.

Insider Activity at United Rentals

In related news, SVP Anthony S. Leopold sold 900 shares of United Rentals stock in a transaction on Monday, October 28th. The shares were sold at an average price of $823.24, for a total transaction of $740,916.00. Following the transaction, the senior vice president now owns 2,044 shares in the company, valued at approximately $1,682,702.56. The trade was a 30.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is owned by corporate insiders.

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.