Healthcare of Ontario Pension Plan Trust Fund Buys 67,443 Shares of United Rentals, Inc. $URI

Healthcare of Ontario Pension Plan Trust Fund raised its stake in United Rentals, Inc. (NYSE:URI) by 2,681.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 69,958 shares of the construction company’s stock after acquiring an additional 67,443 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in United Rentals were worth $50,969,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of URI. Core Wealth Advisors LLC bought a new stake in shares of United Rentals in the 4th quarter worth approximately $28,000. MV Capital Management Inc. bought a new position in United Rentals during the fourth quarter valued at $28,000. Laurel Wealth Advisors LLC bought a new position in United Rentals during the fourth quarter valued at $32,000. Fortitude Family Office LLC increased its position in United Rentals by 121.1% in the fourth quarter. Fortitude Family Office LLC now owns 42 shares of the construction company’s stock worth $34,000 after buying an additional 23 shares during the last quarter. Finally, Hilton Head Capital Partners LLC purchased a new stake in United Rentals in the fourth quarter worth $34,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Stock Up 0.0%

Shares of NYSE:URI opened at $1,140.19 on Friday. The firm has a fifty day moving average price of $1,052.87 and a two-hundred day moving average price of $919.10. The company has a market cap of $70.97 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 1.82 and a beta of 1.79. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.74. United Rentals, Inc. has a one year low of $701.59 and a one year high of $1,177.67.

United Rentals (NYSE:URI) last released its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, topping the consensus estimate of $11.53 by $1.23. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The firm had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter in the prior year, the firm posted $10.47 earnings per share. The business’s quarterly revenue was up 11.8% on a year-over-year basis. Analysts anticipate that United Rentals, Inc. will post 47.32 EPS for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be given a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a yield of 0.7%. The ex-dividend date is Wednesday, August 12th. United Rentals’s payout ratio is presently 18.92%.

Insider Transactions at United Rentals

In other United Rentals news, SVP Joli L. Gross sold 306 shares of the company’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $954.99, for a total value of $292,226.94. Following the transaction, the senior vice president directly owned 5,738 shares in the company, valued at $5,479,732.62. This represents a 5.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Craig Adam Pintoff sold 2,466 shares of the firm’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $963.00, for a total value of $2,374,758.00. Following the completion of the sale, the executive vice president directly owned 14,774 shares in the company, valued at approximately $14,227,362. The trade was a 14.30% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.47% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target on United Rentals from $1,100.00 to $1,235.00 and gave the company an “overweight” rating in a research report on Friday. UBS Group reissued a “buy” rating and issued a $1,350.00 price objective on shares of United Rentals in a report on Thursday. Weiss Ratings upgraded United Rentals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Morgan Stanley set a $1,335.00 price objective on shares of United Rentals and gave the company an “overweight” rating in a report on Friday. Finally, Wells Fargo & Company increased their target price on shares of United Rentals from $1,245.00 to $1,355.00 and gave the stock an “overweight” rating in a research report on Friday. Fifteen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, United Rentals presently has an average rating of “Moderate Buy” and an average target price of $1,226.50.

United Rentals News Roundup

Here are the key news stories impacting United Rentals this week:

• Positive Sentiment: JPMorgan raised its price target on United Rentals to $1,235 and kept an overweight rating, signaling confidence in continued upside. JPMorgan price target increase
• Positive Sentiment: Truist boosted its target to $1,466 and maintained a buy rating, reflecting a more optimistic view of URI’s earnings power and demand trends. Truist price target increase
• Positive Sentiment: Citigroup raised its target to $1,330 with a buy rating after the company’s strong Q2 results and improved guidance. Citigroup price target increase
• Positive Sentiment: Bank of America increased its target to $1,300 and reiterated a buy rating, adding to the positive analyst momentum around the stock. Bank of America price target increase
• Positive Sentiment: United Rentals reported Q2 earnings of $12.76 per share and revenue of $4.41 billion, both ahead of expectations, and raised full-year guidance on stronger rental growth and demand. Q2 earnings beat and guidance raise
• Neutral Sentiment: The company also declared a quarterly dividend of $1.97 per share, which is a modest shareholder-return update but not likely the main driver of today’s trading. Dividend announcement

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.