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

Ontario Teachers Pension Plan Board lifted its position in shares of United Rentals, Inc. (NYSE:URI) by 187.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,161 shares of the construction company’s stock after purchasing an additional 3,367 shares during the period. Ontario Teachers Pension Plan Board’s holdings in United Rentals were worth $3,722,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in URI. First Financial Corp IN purchased a new stake in United Rentals in the 1st quarter valued at $25,000. AdvisorNet Financial Inc boosted its stake in shares of 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 buying an additional 20 shares during the period. Rise Advisors LLC acquired a new stake in shares of United Rentals during the first quarter worth about $28,000. Riverview Trust Co purchased a new position in shares of United Rentals during the first quarter worth about $31,000. Finally, Private Wealth Management Group LLC purchased a new stake in United Rentals during the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Price Performance

Shares of United Rentals stock traded up $19.71 on Monday, hitting $738.35. The company’s stock had a trading volume of 520,179 shares, compared to its average volume of 574,906. 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 fifty day moving average price of $660.15 and a 200-day moving average price of $656.76. United Rentals, Inc. has a 52-week low of $387.01 and a 52-week high of $759.98. The company has a market capitalization of $49.17 billion, a P/E ratio of 19.46, a price-to-earnings-growth ratio of 2.36 and a beta of 1.71.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $3.44 billion. During the same quarter in the prior year, the firm earned $7.95 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities research analysts expect that United Rentals, Inc. will post 43.89 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The business also recently declared 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. This represents a $6.52 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Tuesday, May 7th. United Rentals’s payout ratio is 17.66%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on URI shares. Citigroup assumed coverage on United Rentals in a research note on Wednesday, June 26th. They issued a “buy” rating and a $745.00 target price on the stock. Truist Financial dropped their price objective on shares of United Rentals from $796.00 to $785.00 and set a “buy” rating on the stock in a research note on Tuesday, July 2nd. The Goldman Sachs Group raised their target price on shares of United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Stifel Nicolaus boosted their price target on shares of United Rentals from $720.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, JPMorgan Chase & Co. initiated coverage on shares of United Rentals in a research report on Friday, June 7th. They issued an “overweight” rating and a $780.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $637.67.

Insider Transactions at United Rentals

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

United Rentals 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.