CANADA LIFE ASSURANCE Co Acquires 4,493 Shares of United Rentals, Inc. (NYSE:URI)

CANADA LIFE ASSURANCE Co grew its holdings in shares of United Rentals, Inc. (NYSE:URI) by 6.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 72,165 shares of the construction company’s stock after buying an additional 4,493 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.11% of United Rentals worth $52,016,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Advisor Resource Council bought a new position in shares of United Rentals in the 4th quarter worth $331,000. Premier Path Wealth Partners LLC bought a new position in shares of United Rentals in the 4th quarter worth $393,000. HB Wealth Management LLC lifted its holdings in shares of United Rentals by 1.3% in the 4th quarter. HB Wealth Management LLC now owns 2,487 shares of the construction company’s stock worth $1,426,000 after purchasing an additional 32 shares in the last quarter. Oak Ridge Investments LLC lifted its holdings in shares of United Rentals by 0.3% in the 4th quarter. Oak Ridge Investments LLC now owns 5,816 shares of the construction company’s stock worth $3,335,000 after purchasing an additional 20 shares in the last quarter. Finally, Tectonic Advisors LLC lifted its holdings in shares of United Rentals by 1.9% in the 4th quarter. Tectonic Advisors LLC now owns 1,425 shares of the construction company’s stock worth $817,000 after purchasing an additional 26 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO Michael D. Durand sold 559 shares of United Rentals 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 completion of the sale, the chief operating officer now owns 8,052 shares of the company’s stock, valued at approximately $5,431,557.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, COO Michael D. Durand sold 559 shares of United Rentals 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 completion of the sale, the chief operating officer now owns 8,052 shares of the company’s stock, valued at approximately $5,431,557.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Matthew John Flannery sold 8,379 shares of the firm’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 transaction, the chief executive officer now owns 103,400 shares of the company’s stock, valued at approximately $72,341,742. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

United Rentals Stock Performance

Shares of United Rentals stock traded down $28.05 during trading hours on Wednesday, hitting $715.89. 1,212,390 shares of the company’s stock traded hands, compared to its average volume of 579,592. The company has a fifty day simple moving average of $662.04 and a 200-day simple moving average of $659.91. United Rentals, Inc. has a 12-month low of $387.01 and a 12-month high of $759.98. The stock has a market capitalization of $47.67 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.42 and a beta of 1.71. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.89 and a quick ratio of 0.83.

United Rentals (NYSE:URI) last announced its quarterly earnings data 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 return on equity of 36.44% and a net margin of 17.31%. The company had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.44 billion. During the same quarter last year, the firm posted $7.95 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts anticipate that United Rentals, Inc. will post 43.89 EPS for the current fiscal year.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.91%. United Rentals’s dividend payout ratio (DPR) is currently 17.66%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Oppenheimer reiterated a “market perform” rating on shares of United Rentals in a report on Monday, April 29th. JPMorgan Chase & Co. initiated coverage on United Rentals in a research report on Friday, June 7th. They issued an “overweight” rating and a $780.00 price target for the company. The Goldman Sachs Group increased their price target on United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Stifel Nicolaus increased their price target on United Rentals from $720.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Citigroup initiated coverage on United Rentals in a research report on Wednesday, June 26th. They issued a “buy” rating and a $745.00 price target for the company. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $637.67.

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.