United Rentals, Inc. (NYSE:URI) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp reduced its holdings in United Rentals, Inc. (NYSE:URI) by 11.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 88,259 shares of the construction company’s stock after selling 11,416 shares during the period. Mackenzie Financial Corp owned about 0.13% of United Rentals worth $50,609,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in URI. OFI Invest Asset Management purchased a new stake in United Rentals in the third quarter valued at $25,000. MUFG Americas Holdings Corp raised its position in United Rentals by 1,900.0% in the third quarter. MUFG Americas Holdings Corp now owns 100 shares of the construction company’s stock valued at $27,000 after purchasing an additional 95 shares during the period. Eagle Bay Advisors LLC purchased a new stake in United Rentals in the second quarter valued at $27,000. AdvisorNet Financial Inc raised its position in United Rentals by 71.4% in the fourth quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock valued at $28,000 after purchasing an additional 20 shares during the period. Finally, NBC Securities Inc. purchased a new stake in United Rentals in the third quarter valued at $29,000. 96.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at United Rentals

In other news, CFO William E. Grace sold 775 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $655.62, for a total value of $508,105.50. Following the sale, the chief financial officer now directly owns 6,323 shares in the company, valued at $4,145,485.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.49% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Truist Financial began coverage on United Rentals in a research report on Thursday, March 14th. They issued a “buy” rating and a $793.00 target price on the stock. Stifel Nicolaus boosted their target price on shares of United Rentals from $494.00 to $591.00 and gave the stock a “buy” rating in a research note on Tuesday, December 19th. BNP Paribas reiterated an “underperform” rating and set a $485.00 target price on shares of United Rentals in a research note on Friday, January 5th. Wells Fargo & Company boosted their target price on shares of United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Finally, Morgan Stanley started coverage on shares of United Rentals in a research note on Monday, January 8th. They set an “equal weight” rating and a $500.00 target price for the company. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $589.21.

United Rentals Price Performance

Shares of NYSE:URI opened at $655.97 on Wednesday. The stock has a market capitalization of $44.06 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 2.31 and a beta of 1.84. United Rentals, Inc. has a one year low of $325.15 and a one year high of $732.37. The company has a 50-day simple moving average of $680.99 and a 200-day simple moving average of $568.14. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 0.81.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, January 24th. The construction company reported $11.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.85 by $0.41. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.63 billion. United Rentals had a net margin of 16.91% and a return on equity of 36.80%. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the prior year, the company posted $9.74 earnings per share. On average, analysts predict that United Rentals, Inc. will post 43.13 EPS for the current year.

United Rentals announced that its Board of Directors has initiated a share buyback program on Wednesday, January 24th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to reacquire up to 3.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

United Rentals Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were issued a $1.63 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This is a boost from United Rentals’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a yield of 0.99%. United Rentals’s dividend payout ratio (DPR) is 18.44%.

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.