United Rentals, Inc. (NYSE:URI) Stock Position Raised by Cibc World Markets Corp

Cibc World Markets Corp boosted its holdings in United Rentals, Inc. (NYSE:URI) by 15.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 10,405 shares of the construction company’s stock after acquiring an additional 1,390 shares during the period. Cibc World Markets Corp’s holdings in United Rentals were worth $7,330,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new stake in shares of United Rentals during the 4th quarter worth approximately $171,733,000. Raymond James Financial Inc. bought a new position in United Rentals during the 4th quarter worth $164,493,000. JPMorgan Chase & Co. increased its position in United Rentals by 15.4% in the third quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock worth $637,968,000 after buying an additional 105,287 shares during the period. FMR LLC lifted its stake in United Rentals by 3.7% in the third quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock valued at $1,956,768,000 after buying an additional 85,325 shares during the last quarter. Finally, National Pension Service boosted its holdings in shares of United Rentals by 79.8% during the fourth quarter. National Pension Service now owns 167,813 shares of the construction company’s stock valued at $118,214,000 after acquiring an additional 74,479 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at United Rentals

In other news, CFO William E. Grace sold 1,100 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $638.10, for a total transaction of $701,910.00. Following the transaction, the chief financial officer now owns 6,880 shares in the company, valued at approximately $4,390,128. The trade was a 13.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on URI shares. Robert W. Baird raised shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price objective on the stock in a report on Tuesday, January 14th. Morgan Stanley dropped their price target on shares of United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Truist Financial reiterated a “buy” rating and set a $956.00 price objective (down from $963.00) on shares of United Rentals in a research report on Friday, January 31st. JPMorgan Chase & Co. raised their target price on United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Baird R W upgraded United Rentals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $829.00.

United Rentals Stock Performance

URI opened at $608.51 on Wednesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.92 and a current ratio of 0.98. The company has a market cap of $39.74 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 1.43 and a beta of 1.76. The stock has a 50-day moving average of $698.93 and a 200-day moving average of $758.97. United Rentals, Inc. has a 52-week low of $585.27 and a 52-week high of $896.98.

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

United Rentals Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a dividend of $1.79 per share. The ex-dividend date was Wednesday, February 12th. This represents a $7.16 dividend on an annualized basis and a yield of 1.18%. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s payout ratio is 18.48%.

United Rentals 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.