Cibc World Market Inc. Invests $23.13 Million in United Rentals, Inc. $URI

Cibc World Market Inc. acquired a new stake in shares of United Rentals, Inc. (NYSE:URI) during the second quarter, HoldingsChannel reports. The firm acquired 20,414 shares of the construction company’s stock, valued at approximately $23,127,000.

A number of other large investors have also modified their holdings of the company. Core Wealth Advisors LLC bought a new position in United Rentals in the fourth quarter worth $28,000. MV Capital Management Inc. bought a new stake in United Rentals in the 4th quarter valued at $28,000. Clal Insurance Enterprises Holdings Ltd bought a new stake in United Rentals in the 2nd quarter valued at $29,000. MidFirst Bank acquired a new position in shares of United Rentals in the 2nd quarter valued at $31,000. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of United Rentals in the 4th quarter valued at $32,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP William E. Grace sold 1,500 shares of United Rentals stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the completion of the transaction, the executive vice president owned 6,062 shares in the company, valued at approximately $6,869,155.30. The trade was a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

URI has been the subject of a number of analyst reports. Citigroup raised their price objective on shares of United Rentals from $1,270.00 to $1,330.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Evercore reissued an “outperform” rating and issued a $1,101.00 price target on shares of United Rentals in a research report on Monday, May 11th. Weiss Ratings upgraded shares of United Rentals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 23rd. KeyCorp reaffirmed an “overweight” rating and set a $1,350.00 price objective on shares of United Rentals in a report on Friday, July 24th. Finally, Barclays upped their price objective on United Rentals from $715.00 to $950.00 and gave the company an “underweight” rating in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,246.19.

United Rentals Stock Down 0.3%

URI opened at $1,095.21 on Monday. The firm has a market cap of $68.17 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 1.42 and a beta of 1.80. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.70 and a current ratio of 0.76. The firm’s 50-day simple moving average is $1,099.22 and its 200-day simple moving average is $950.71. United Rentals, Inc. has a twelve month low of $701.59 and a twelve month high of $1,179.18.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.53 by $1.23. The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period last year, the firm posted $10.47 EPS. Equities research analysts anticipate that United Rentals, Inc. will post 48.55 EPS for the current fiscal year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be issued a dividend of $1.97 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. United Rentals’s dividend payout ratio (DPR) is presently 18.92%.

United Rentals Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.