iA Global Asset Management Inc. Has $18.51 Million Stake in United Rentals, Inc. (NYSE:URI)

iA Global Asset Management Inc. decreased its position in shares of United Rentals, Inc. (NYSE:URI) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,269 shares of the construction company’s stock after selling 715 shares during the quarter. iA Global Asset Management Inc.’s holdings in United Rentals were worth $18,505,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of URI. GSA Capital Partners LLP boosted its holdings in shares of United Rentals by 54.2% during the 3rd quarter. GSA Capital Partners LLP now owns 589 shares of the construction company’s stock valued at $477,000 after acquiring an additional 207 shares in the last quarter. OneDigital Investment Advisors LLC lifted its holdings in United Rentals by 3.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 650 shares of the construction company’s stock worth $526,000 after buying an additional 20 shares during the period. Quest Partners LLC lifted its holdings in United Rentals by 4.5% during the 3rd quarter. Quest Partners LLC now owns 890 shares of the construction company’s stock worth $721,000 after buying an additional 38 shares during the period. Caprock Group LLC lifted its holdings in United Rentals by 4.2% during the 3rd quarter. Caprock Group LLC now owns 4,507 shares of the construction company’s stock worth $3,650,000 after buying an additional 183 shares during the period. Finally, Prospera Financial Services Inc lifted its holdings in United Rentals by 20.1% during the 3rd quarter. Prospera Financial Services Inc now owns 933 shares of the construction company’s stock worth $756,000 after buying an additional 156 shares during the period. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Stock Performance

Shares of United Rentals stock opened at $627.42 on Thursday. United Rentals, Inc. has a one year low of $585.27 and a one year high of $896.98. The firm has a market capitalization of $40.97 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 1.43 and a beta of 1.76. The business has a 50-day simple moving average of $698.05 and a 200 day simple moving average of $758.05. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92.

United Rentals (NYSE:URI) last issued its earnings results 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 net margin of 16.78% and a return on equity of 34.21%. On average, research analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a dividend of $1.79 per share. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. This represents a $7.16 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Wednesday, February 12th. United Rentals’s payout ratio is currently 18.48%.

Analysts Set New Price Targets

URI has been the topic of several recent research reports. Truist Financial reaffirmed a “buy” rating and set a $956.00 target price (down from $963.00) on shares of United Rentals in a report on Friday, January 31st. Evercore ISI cut their target price on United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Citigroup dropped their price objective on United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. boosted their price objective on United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Morgan Stanley dropped their price objective on 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, United Rentals presently has a consensus rating of “Moderate Buy” and an average price target of $829.00.

Insiders Place Their Bets

In other United Rentals news, CFO William E. Grace sold 1,100 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

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.