United Rentals, Inc. (NYSE:URI) Shares Purchased by National Bank of Canada FI

National Bank of Canada FI raised its position in United Rentals, Inc. (NYSE:URI) by 43.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 26,615 shares of the construction company’s stock after purchasing an additional 8,045 shares during the period. National Bank of Canada FI’s holdings in United Rentals were worth $15,087,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in URI. Janney Montgomery Scott LLC increased its holdings in United Rentals by 6.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 21,568 shares of the construction company’s stock valued at $9,588,000 after acquiring an additional 1,304 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of United Rentals during the 4th quarter worth approximately $2,351,000. Verdence Capital Advisors LLC purchased a new stake in United Rentals in the 4th quarter valued at approximately $257,000. Graybill Wealth Management LTD. grew its holdings in United Rentals by 0.6% during the 3rd quarter. Graybill Wealth Management LTD. now owns 9,487 shares of the construction company’s stock valued at $4,218,000 after buying an additional 58 shares during the last quarter. Finally, Pinnacle Associates Ltd. grew its holdings in United Rentals by 55.5% during the 4th quarter. Pinnacle Associates Ltd. now owns 6,413 shares of the construction company’s stock valued at $3,677,000 after buying an additional 2,289 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Insider Buying and Selling

In other United Rentals news, 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 transaction, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Michael D. Durand sold 559 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $674.56, for a total transaction of $377,079.04. Following the transaction, the chief operating officer now directly owns 8,052 shares of the company’s stock, valued at $5,431,557.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Matthew John Flannery sold 8,379 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 103,400 shares of the company’s stock, valued at $72,341,742. The disclosure for this sale can be found here. In the last three months, insiders sold 9,713 shares of company stock valued at $6,747,384. Company insiders own 0.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on URI. Barclays increased their price objective on United Rentals from $325.00 to $400.00 and gave the company an “underweight” rating in a research note on Friday, January 26th. Truist Financial upped their price objective on shares of United Rentals from $793.00 to $796.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Wells Fargo & Company lifted 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. Robert W. Baird increased their price target on United Rentals from $322.00 to $559.00 and gave the stock an “underperform” rating in a research note on Friday, January 26th. Finally, Evercore ISI lifted their price objective on United Rentals from $575.00 to $740.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $600.79.

United Rentals Stock Performance

Shares of NYSE:URI opened at $674.88 on Wednesday. The firm has a market capitalization of $44.94 billion, a PE ratio of 18.28, a P/E/G ratio of 2.17 and a beta of 1.82. United Rentals, Inc. has a 12 month low of $325.91 and a 12 month high of $732.37. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.89 and a quick ratio of 0.83. The business has a 50-day moving average of $683.58 and a two-hundred day moving average of $592.43.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.35 by $0.80. The firm had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.44 billion. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The company’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.95 EPS. As a group, research analysts forecast that United Rentals, Inc. will post 43.61 earnings per share for the current year.

United Rentals announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 24th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to purchase up to 3.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

United Rentals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be issued a dividend of $1.63 per share. The ex-dividend date is Tuesday, May 7th. This represents a $6.52 annualized dividend and a dividend yield of 0.97%. United Rentals’s payout ratio is 17.66%.

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.