United Rentals, Inc. $URI Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its stake in shares of United Rentals, Inc. (NYSE:URI) by 64.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,767 shares of the construction company’s stock after buying an additional 6,199 shares during the quarter. CIBC Asset Management Inc’s holdings in United Rentals were worth $12,761,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Great Valley Advisor Group Inc. grew its holdings in United Rentals by 2.9% in the second quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock valued at $292,000 after purchasing an additional 11 shares during the last quarter. Gleason Group Inc. lifted its position in United Rentals by 4.3% during the fourth quarter. Gleason Group Inc. now owns 269 shares of the construction company’s stock worth $218,000 after buying an additional 11 shares during the period. Bridgewater Advisors Inc. raised its holdings in shares of United Rentals by 1.2% in the 4th quarter. Bridgewater Advisors Inc. now owns 967 shares of the construction company’s stock worth $783,000 after purchasing an additional 11 shares during the period. Fearless Solutions LLC dba Best Invest raised its holdings in shares of United Rentals by 2.2% in the 4th quarter. Fearless Solutions LLC dba Best Invest now owns 554 shares of the construction company’s stock worth $448,000 after purchasing an additional 12 shares during the period. Finally, Legacy Financial Advisors Inc. grew its stake in shares of United Rentals by 3.9% in the fourth quarter. Legacy Financial Advisors Inc. now owns 322 shares of the construction company’s stock valued at $260,000 after buying an additional 12 shares in the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

URI has been the topic of a number of research analyst reports. KeyCorp increased their target price on United Rentals from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. JPMorgan Chase & Co. increased their target price on United Rentals from $850.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Royal Bank Of Canada increased their target price on United Rentals from $1,041.00 to $1,119.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Citigroup increased their target price on United Rentals from $950.00 to $1,130.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Finally, Barclays increased their target price on United Rentals from $600.00 to $715.00 and gave the stock an “underweight” rating in a report on Friday, April 24th. Twelve investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, United Rentals presently has an average rating of “Moderate Buy” and an average price target of $1,013.63.

Insider Transactions at United Rentals

In related news, VP Andrew B. Limoges sold 548 shares of the company’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $977.86, for a total value of $535,867.28. Following the completion of the transaction, the vice president directly owned 1,865 shares in the company, valued at approximately $1,823,708.90. This represents a 22.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Craig Adam Pintoff sold 2,466 shares of the company’s stock in a transaction on 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 transaction, the executive vice president owned 14,774 shares of the company’s stock, valued at $14,227,362. The trade was a 14.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 26,088 shares of company stock valued at $25,628,877. Company insiders own 0.47% of the company’s stock.

United Rentals Price Performance

URI opened at $1,067.62 on Friday. The stock has a market cap of $66.89 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 1.72 and a beta of 1.81. United Rentals, Inc. has a 1 year low of $682.08 and a 1 year high of $1,091.23. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37. The stock has a fifty day moving average price of $885.82 and a 200 day moving average price of $852.39.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.20 billion. United Rentals had a return on equity of 30.56% and a net margin of 15.32%.United Rentals’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $8.86 EPS. Analysts forecast that United Rentals, Inc. will post 47.07 EPS for the current fiscal year.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were given a dividend of $1.97 per share. The ex-dividend date was Wednesday, May 13th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. United Rentals’s payout ratio is currently 20.10%.

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.