Alberta Investment Management Corp Invests $15.86 Million in United Rentals, Inc. $URI

Alberta Investment Management Corp purchased a new stake in shares of United Rentals, Inc. (NYSE:URI) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 19,600 shares of the construction company’s stock, valued at approximately $15,863,000.

Several other large investors have also made changes to their positions in the business. Capital International Investors raised its stake in United Rentals by 22.8% during the 3rd quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock valued at $3,247,762,000 after purchasing an additional 631,484 shares during the period. Capital World Investors boosted its stake in United Rentals by 1.1% in the 4th quarter. Capital World Investors now owns 2,708,877 shares of the construction company’s stock worth $2,192,357,000 after purchasing an additional 30,263 shares during the period. Franklin Resources Inc. boosted its stake in United Rentals by 2.2% in the 4th quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company’s stock worth $1,087,711,000 after purchasing an additional 28,895 shares during the period. Norges Bank purchased a new stake in United Rentals during the 4th quarter valued at approximately $978,017,000. Finally, Alliancebernstein L.P. grew its holdings in United Rentals by 5.6% during the 3rd quarter. Alliancebernstein L.P. now owns 1,088,209 shares of the construction company’s stock valued at $1,038,870,000 after buying an additional 57,977 shares in the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Joli L. Gross sold 306 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $954.99, for a total transaction of $292,226.94. Following the transaction, the senior vice president owned 5,738 shares of the company’s stock, valued at approximately $5,479,732.62. This represents a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Matthew John Flannery sold 22,768 shares of the stock in a transaction that occurred on Friday, April 24th. The stock was 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 in the company, valued at approximately $98,478,300.40. The trade was a 18.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 26,088 shares of company stock valued at $25,628,877 in the last quarter. 0.47% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on URI shares. Weiss Ratings upgraded shares of United Rentals from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Truist Financial set a $1,209.00 price objective on shares of United Rentals in a report on Friday, April 24th. Raymond James Financial restated an “outperform” rating and set a $1,275.00 price objective on shares of United Rentals in a research report on Wednesday, June 10th. Barclays lifted 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. Finally, KeyCorp boosted their target price on United Rentals from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Thirteen investment 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,045.81.

United Rentals Price Performance

Shares of United Rentals stock opened at $1,077.68 on Friday. The stock has a market cap of $67.52 billion, a price-to-earnings ratio of 27.49, a price-to-earnings-growth ratio of 1.66 and a beta of 1.81. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80. The stock has a 50 day moving average price of $947.43 and a 200-day moving average price of $869.81. United Rentals, Inc. has a one year low of $693.78 and a one year high of $1,106.88.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing the consensus estimate of $11.47 by ($1.76). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The firm had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $4.20 billion. During the same period in the previous year, the firm earned $8.86 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities analysts expect that United Rentals, Inc. will post 47.26 EPS for the current year.

United Rentals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were paid a dividend of $1.97 per share. The ex-dividend date of this dividend 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.