Canandaigua National Bank & Trust Co. Buys Shares of 1,000 United Rentals, Inc. $URI

Canandaigua National Bank & Trust Co. purchased a new position in United Rentals, Inc. (NYSE:URI) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,000 shares of the construction company’s stock, valued at approximately $1,133,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of 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 valued at $9,514,000 after purchasing an additional 1,846 shares during the period. Eventide Asset Management LLC grew its holdings in United Rentals by 19.6% in the 4th quarter. Eventide Asset Management LLC now owns 95,940 shares of the construction company’s stock worth $77,666,000 after buying an additional 15,696 shares in the last quarter. Whittier Trust Co. grew its holdings in United Rentals by 2.6% in the 4th quarter. Whittier Trust Co. now owns 61,408 shares of the construction company’s stock worth $54,782,000 after buying an additional 1,529 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in United Rentals by 52.0% in the 4th quarter. Sequoia Financial Advisors LLC now owns 3,241 shares of the construction company’s stock valued at $2,623,000 after acquiring an additional 1,109 shares during the period. Finally, Addenda Capital Inc. increased its position in United Rentals by 21.3% in the 4th quarter. Addenda Capital Inc. now owns 16,739 shares of the construction company’s stock valued at $13,547,000 after acquiring an additional 2,939 shares during the period. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

United Rentals Trading Up 1.2%

Shares of NYSE URI opened at $1,164.03 on Thursday. United Rentals, Inc. has a 12 month low of $701.59 and a 12 month high of $1,177.67. The company has a market cap of $72.45 billion, a price-to-earnings ratio of 27.95, a P/E/G ratio of 1.48 and a beta of 1.80. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38. The business has a fifty day simple moving average of $1,078.56 and a 200-day simple moving average of $929.82.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.53 by $1.23. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter in the previous year, the company earned $10.47 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. Sell-side analysts predict that United Rentals, Inc. will post 48.55 EPS for the current year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders 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 news, EVP William E. Grace sold 1,500 shares of the firm’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the completion of the sale, the executive vice president owned 6,062 shares of the company’s stock, valued at $6,869,155.30. This trade represents a 19.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.47% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on URI shares. Wall Street Zen raised United Rentals from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Argus reaffirmed a “buy” rating and issued a $1,250.00 price objective on shares of United Rentals in a report on Tuesday. Morgan Stanley set a $1,335.00 target price on shares of United Rentals and gave the company an “overweight” rating in a research report on Friday, July 24th. Evercore reissued an “outperform” rating and set a $1,101.00 target price on shares of United Rentals in a research note on Monday, May 11th. Finally, Wells Fargo & Company upped their price target on shares of United Rentals from $1,245.00 to $1,355.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,246.19.

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.