United Rentals, Inc. $URI Shares Acquired by iA Global Asset Management Inc.

iA Global Asset Management Inc. raised its holdings in shares of United Rentals, Inc. (NYSE:URI) by 36.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 27,491 shares of the construction company’s stock after buying an additional 7,335 shares during the quarter. iA Global Asset Management Inc.’s holdings in United Rentals were worth $22,249,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of URI. Woodline Partners LP lifted its stake in United Rentals by 40.0% during the 1st quarter. Woodline Partners LP now owns 5,518 shares of the construction company’s stock valued at $3,458,000 after acquiring an additional 1,577 shares during the period. Sei Investments Co. lifted its stake in United Rentals by 24.7% during the 2nd quarter. Sei Investments Co. now owns 27,136 shares of the construction company’s stock valued at $20,444,000 after acquiring an additional 5,375 shares during the period. Treasurer of the State of North Carolina lifted its stake in United Rentals by 43.6% during the 2nd quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company’s stock valued at $42,233,000 after acquiring an additional 17,030 shares during the period. HUB Investment Partners LLC lifted its stake in United Rentals by 11.3% during the 2nd quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company’s stock valued at $1,661,000 after acquiring an additional 223 shares during the period. Finally, Diversify Advisory Services LLC lifted its stake in United Rentals by 338.7% during the 2nd quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company’s stock valued at $1,246,000 after acquiring an additional 1,277 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on URI shares. Barclays lifted their price objective on shares of United Rentals from $600.00 to $715.00 and gave the company an “underweight” rating in a research note on Friday, April 24th. Citigroup boosted their target price on shares of United Rentals from $950.00 to $1,130.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Sanford C. Bernstein set a $903.00 target price on shares of United Rentals and gave the company an “outperform” rating in a research note on Thursday, April 9th. Wells Fargo & Company boosted their target price on shares of United Rentals from $995.00 to $1,071.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. Finally, Royal Bank Of Canada boosted their target price on shares of United Rentals from $1,041.00 to $1,119.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Thirteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $996.94.

United Rentals Stock Performance

URI opened at $961.22 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.74. The firm has a fifty day moving average price of $818.01 and a 200 day moving average price of $839.18. United Rentals, Inc. has a 1 year low of $681.98 and a 1 year high of $1,021.47. The stock has a market cap of $60.22 billion, a P/E ratio of 24.52, a P/E/G ratio of 1.53 and a beta of 1.83.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.47 by ($1.76). United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.20 billion. During the same quarter in the prior year, the firm earned $8.86 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities research analysts anticipate that United Rentals, Inc. will post 47.07 earnings per share for the current year.

United Rentals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th will be issued a $1.97 dividend. This represents a $7.88 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, May 13th. United Rentals’s payout ratio is presently 20.10%.

United Rentals announced that its Board of Directors has approved a stock repurchase program on Wednesday, January 28th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the construction company to buy up to 8.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Insider Activity at United Rentals

In related news, SVP Joli L. Gross sold 306 shares of the business’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $954.99, for a total value of $292,226.94. Following the completion of the sale, the senior vice president owned 5,738 shares of the company’s stock, valued at approximately $5,479,732.62. The trade was a 5.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew John Flannery sold 22,768 shares of the business’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $984.98, for a total transaction of $22,426,024.64. Following the completion of the sale, the chief executive officer directly owned 99,980 shares of the company’s stock, valued at approximately $98,478,300.40. The trade was a 18.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 26,088 shares of company stock worth $25,628,877 in the last quarter. 0.47% of the stock is owned by insiders.

United Rentals Company Profile

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.