CIBC Asset Management Inc Has $7.88 Million Stock Position in United Rentals, Inc. (NYSE:URI)

CIBC Asset Management Inc boosted its stake in United Rentals, Inc. (NYSE:URI) by 8.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 9,729 shares of the construction company’s stock after buying an additional 747 shares during the period. CIBC Asset Management Inc’s holdings in United Rentals were worth $7,878,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of URI. International Assets Investment Management LLC grew its position in shares of United Rentals by 82,462.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock worth $1,300,962,000 after purchasing an additional 1,604,715 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in United Rentals by 4.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 637,188 shares of the construction company’s stock valued at $412,089,000 after purchasing an additional 27,708 shares during the last quarter. Capital International Investors bought a new position in United Rentals in the 1st quarter valued at approximately $332,349,000. AMF Tjanstepension AB raised its stake in shares of United Rentals by 77.7% during the second quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock valued at $295,626,000 after acquiring an additional 199,810 shares during the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of United Rentals by 5.7% during the second quarter. Hsbc Holdings PLC now owns 382,536 shares of the construction company’s stock valued at $247,001,000 after acquiring an additional 20,481 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insider Activity at United Rentals

In other news, SVP Anthony S. Leopold sold 900 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $823.24, for a total transaction of $740,916.00. Following the sale, the senior vice president now owns 2,044 shares of the company’s stock, valued at $1,682,702.56. This trade represents a 30.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.53% of the stock is currently owned by insiders.

United Rentals Stock Down 1.6 %

NYSE:URI opened at $836.00 on Monday. The firm’s 50-day moving average price is $807.10 and its 200-day moving average price is $726.74. The company has a market capitalization of $54.86 billion, a PE ratio of 21.83, a P/E/G ratio of 1.96 and a beta of 1.68. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.82 and a quick ratio of 0.77. United Rentals, Inc. has a 1-year low of $454.71 and a 1-year high of $896.98.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing the consensus estimate of $12.49 by ($0.69). United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period last year, the company posted $11.73 earnings per share. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities analysts predict that United Rentals, Inc. will post 43.55 EPS for the current fiscal year.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.78%. The ex-dividend date is Wednesday, November 13th. United Rentals’s dividend payout ratio (DPR) is 17.03%.

Analyst Ratings Changes

URI has been the subject of several recent analyst reports. Robert W. Baird increased their price objective on shares of United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research report on Thursday, October 3rd. Truist Financial lifted their price objective on shares of United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Bank of America boosted their price target on shares of United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Barclays boosted their price target on shares of United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Finally, Evercore ISI boosted their price objective on shares of United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $742.50.

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.