CIBC Asset Management Inc Sells 553 Shares of United Rentals, Inc. (NYSE:URI)

CIBC Asset Management Inc trimmed its holdings in shares of United Rentals, Inc. (NYSE:URIFree Report) by 5.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,299 shares of the construction company’s stock after selling 553 shares during the quarter. CIBC Asset Management Inc’s holdings in United Rentals were worth $5,332,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in URI. AdvisorNet Financial Inc boosted its position in United Rentals by 71.4% during the fourth quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock worth $28,000 after purchasing an additional 20 shares during the period. NBC Securities Inc. acquired a new stake in shares of United Rentals in the third quarter valued at about $29,000. Private Wealth Management Group LLC bought a new position in United Rentals in the 4th quarter worth approximately $34,000. Larson Financial Group LLC boosted its position in shares of United Rentals by 1,525.0% in the fourth quarter. Larson Financial Group LLC now owns 65 shares of the construction company’s stock valued at $37,000 after acquiring an additional 61 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of United Rentals in the third quarter worth $40,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Stock Up 1.5 %

Shares of NYSE:URI opened at $640.71 on Thursday. 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 market cap of $42.66 billion, a P/E ratio of 17.35, a P/E/G ratio of 2.05 and a beta of 1.75. United Rentals, Inc. has a 12 month low of $353.49 and a 12 month high of $732.37. The company’s 50-day moving average price is $676.88 and its two-hundred day moving average price is $626.50.

United Rentals (NYSE:URIGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, beating analysts’ consensus estimates of $8.35 by $0.80. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The business had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.44 billion. During the same quarter last year, the business posted $7.95 earnings per share. United Rentals’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, research analysts forecast that United Rentals, Inc. will post 43.61 EPS for the current fiscal year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were issued 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 1.02%. United Rentals’s dividend payout ratio is currently 17.66%.

Analyst Upgrades and Downgrades

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

View Our Latest Stock Analysis on United Rentals

Insider Buying and Selling at United Rentals

In related news, CEO Matthew John Flannery sold 8,379 shares of the business’s 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 directly owns 103,400 shares of the company’s stock, valued at $72,341,742. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Matthew John Flannery sold 8,379 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael D. Durand sold 559 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $674.56, for a total value of $377,079.04. Following the transaction, the chief operating officer now owns 8,052 shares in the company, valued at approximately $5,431,557.12. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

About United Rentals

(Free Report)

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.

See Also

Institutional Ownership by Quarter for United Rentals (NYSE:URI)

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