National Bank of Canada FI Increases Stock Position in United Rentals, Inc. (NYSE:URI)

National Bank of Canada FI raised its holdings in shares of United Rentals, Inc. (NYSE:URI) by 16.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,077 shares of the construction company’s stock after acquiring an additional 6,657 shares during the period. National Bank of Canada FI’s holdings in United Rentals were worth $30,150,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of URI. GAMMA Investing LLC grew its position in United Rentals by 77,674.5% during the first quarter. GAMMA Investing LLC now owns 887,407 shares of the construction company’s stock valued at $556,138,000 after acquiring an additional 886,266 shares during the last quarter. Leigh Baldwin & CO. LLC bought a new position in United Rentals during the fourth quarter valued at approximately $330,989,000. Capital World Investors grew its position in United Rentals by 17.1% during the fourth quarter. Capital World Investors now owns 2,221,228 shares of the construction company’s stock valued at $1,564,722,000 after acquiring an additional 323,636 shares during the last quarter. Capital International Investors grew its position in United Rentals by 41.0% during the fourth quarter. Capital International Investors now owns 1,051,365 shares of the construction company’s stock valued at $740,624,000 after acquiring an additional 305,491 shares during the last quarter. Finally, Marshall Wace LLP grew its position in United Rentals by 105.6% during the fourth quarter. Marshall Wace LLP now owns 546,165 shares of the construction company’s stock valued at $384,740,000 after acquiring an additional 280,502 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors.

United Rentals Stock Performance

Shares of URI stock opened at $858.99 on Monday. United Rentals, Inc. has a 12 month low of $525.91 and a 12 month high of $903.60. The stock has a market cap of $55.27 billion, a PE ratio of 22.21, a price-to-earnings-growth ratio of 1.98 and a beta of 1.72. The company has a current ratio of 0.86, a quick ratio of 0.80 and a debt-to-equity ratio of 1.34. The company’s fifty day moving average price is $780.39 and its 200-day moving average price is $702.84.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, July 23rd. The construction company reported $10.47 EPS for the quarter, missing analysts’ consensus estimates of $10.54 by ($0.07). United Rentals had a net margin of 16.11% and a return on equity of 32.01%. The business had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter last year, the firm posted $10.70 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis. On average, equities analysts expect that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th will be given a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, August 13th. United Rentals’s payout ratio is currently 18.52%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on URI. Evercore ISI cut their target price on shares of United Rentals from $974.00 to $921.00 and set an “outperform” rating on the stock in a report on Monday, May 19th. Truist Financial raised their target price on shares of United Rentals from $786.00 to $952.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Citigroup restated a “buy” rating and issued a $810.00 target price (up previously from $740.00) on shares of United Rentals in a report on Tuesday, June 24th. Redburn Atlantic cut shares of United Rentals from a “buy” rating to a “neutral” rating and set a $760.00 target price on the stock. in a report on Friday, June 13th. Finally, UBS Group raised their target price on shares of United Rentals from $780.00 to $835.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, United Rentals has an average rating of “Moderate Buy” and an average target price of $830.71.

About United Rentals

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.