Alberta Investment Management Corp Purchases New Position in United Rentals, Inc. $URI

Alberta Investment Management Corp purchased a new stake in United Rentals, Inc. (NYSE:URI) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 19,600 shares of the construction company’s stock, valued at approximately $15,863,000.

Several other institutional investors have also bought and sold shares of URI. Beacon Investment Advisory Services Inc. boosted its stake in United Rentals by 1,358.7% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 8,227 shares of the construction company’s stock worth $6,658,000 after purchasing an additional 7,663 shares in the last quarter. TD Asset Management Inc boosted its stake in United Rentals by 66.5% in the third quarter. TD Asset Management Inc now owns 484,450 shares of the construction company’s stock worth $462,485,000 after purchasing an additional 193,416 shares in the last quarter. Nordea Investment Management AB boosted its stake in United Rentals by 22.7% in the fourth quarter. Nordea Investment Management AB now owns 154,688 shares of the construction company’s stock worth $126,362,000 after purchasing an additional 28,604 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in United Rentals by 18.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,756 shares of the construction company’s stock worth $9,514,000 after purchasing an additional 1,846 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in United Rentals by 1.4% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 367,814 shares of the construction company’s stock worth $351,128,000 after purchasing an additional 5,115 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on URI. Royal Bank Of Canada boosted their price objective on United Rentals from $1,041.00 to $1,119.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Truist Financial set a $1,209.00 price objective on United Rentals in a research note on Friday, April 24th. Raymond James Financial reissued an “outperform” rating and issued a $1,275.00 price objective on shares of United Rentals in a research note on Wednesday, June 10th. Barclays boosted their price objective on United Rentals from $600.00 to $715.00 and gave the stock an “underweight” rating in a research note on Friday, April 24th. Finally, KeyCorp boosted their price objective on United Rentals from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Thirteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, United Rentals presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,045.81.

United Rentals Trading Up 0.8%

Shares of URI opened at $1,082.43 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.37. United Rentals, Inc. has a 12-month low of $682.08 and a 12-month high of $1,106.88. The firm has a market capitalization of $67.81 billion, a PE ratio of 27.61, a price-to-earnings-growth ratio of 1.70 and a beta of 1.81. The stock’s fifty day simple moving average is $927.44 and its 200-day simple moving average is $864.50.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.47 by ($1.76). United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.20 billion. During the same period last year, the company earned $8.86 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. As a group, research analysts predict that United Rentals, Inc. will post 47.26 earnings per share for the current year.

United Rentals Announces Dividend

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

Insider Transactions at United Rentals

In other news, EVP Craig Adam Pintoff sold 2,466 shares of the company’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the transaction, the executive vice president owned 14,774 shares of the company’s stock, valued at $14,227,362. This represents a 14.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Matthew John Flannery sold 22,768 shares of the company’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $984.98, for a total value of $22,426,024.64. Following the completion of the sale, the chief executive officer owned 99,980 shares of the company’s stock, valued at $98,478,300.40. This represents a 18.55% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 26,088 shares of company stock worth $25,628,877. 0.47% of the stock is owned by insiders.

United Rentals Company 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.