United Rentals, Inc. (NYSE:URI) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board lowered its position in shares of United Rentals, Inc. (NYSE:URI) by 59.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,794 shares of the construction company’s stock after selling 2,602 shares during the period. Ontario Teachers Pension Plan Board’s holdings in United Rentals were worth $1,029,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in United Rentals in the fourth quarter valued at $977,443,000. International Assets Investment Management LLC boosted its stake in United Rentals by 58,829.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,043,051 shares of the construction company’s stock valued at $598,106,000 after acquiring an additional 1,041,281 shares in the last quarter. Deutsche Bank AG boosted its stake in United Rentals by 88.1% in the third quarter. Deutsche Bank AG now owns 362,151 shares of the construction company’s stock valued at $161,001,000 after acquiring an additional 169,586 shares in the last quarter. Invesco Ltd. boosted its stake in United Rentals by 19.1% in the third quarter. Invesco Ltd. now owns 933,428 shares of the construction company’s stock valued at $414,974,000 after acquiring an additional 149,838 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in United Rentals in the third quarter valued at $40,634,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

Analyst Ratings Changes

URI has been the subject of several research analyst reports. Oppenheimer restated a “market perform” rating on shares of United Rentals in a research note on Monday, April 29th. Evercore ISI upped their target price on shares of United Rentals from $575.00 to $740.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Truist Financial upped their target price on shares of United Rentals from $793.00 to $796.00 and gave the company a “buy” rating in a report on Monday, April 29th. Stifel Nicolaus upped their target price on shares of United Rentals from $720.00 to $750.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, The Goldman Sachs Group upped their target price on shares of United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $600.79.

Insiders Place Their Bets

In other United Rentals news, COO Michael D. Durand sold 559 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $674.56, for a total transaction of $377,079.04. Following the transaction, the chief operating officer now directly owns 8,052 shares in the company, valued at $5,431,557.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, COO Michael D. Durand sold 559 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $674.56, for a total value of $377,079.04. Following the sale, the chief operating officer now directly owns 8,052 shares in the company, valued at $5,431,557.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew John Flannery sold 8,379 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total transaction of $5,862,199.77. Following the completion of the sale, the chief executive officer now owns 103,400 shares in the company, valued at $72,341,742. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

United Rentals Trading Up 1.0 %

NYSE URI opened at $673.55 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 1.39. The firm has a 50-day moving average price of $685.43 and a 200 day moving average price of $615.89. United Rentals, Inc. has a 52-week low of $330.30 and a 52-week high of $732.37. The stock has a market capitalization of $44.85 billion, a P/E ratio of 18.24, a P/E/G ratio of 2.19 and a beta of 1.82.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, topping the consensus estimate of $8.35 by $0.80. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The company had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.44 billion. During the same period in the prior year, the business posted $7.95 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities research analysts expect that United Rentals, Inc. will post 43.61 EPS for the current year.

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $6.52 annualized dividend and a yield of 0.97%. United Rentals’s payout ratio is currently 17.66%.

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.