CIBC Asset Management Inc Has $12.76 Million Stock Holdings in United Rentals, Inc. $URI

CIBC Asset Management Inc grew its stake in United Rentals, Inc. (NYSE:URI) by 64.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 15,767 shares of the construction company’s stock after buying an additional 6,199 shares during the period. CIBC Asset Management Inc’s holdings in United Rentals were worth $12,761,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Great Valley Advisor Group Inc. increased its holdings in United Rentals by 2.9% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock worth $292,000 after purchasing an additional 11 shares in the last quarter. Gleason Group Inc. increased its holdings in United Rentals by 4.3% during the 4th quarter. Gleason Group Inc. now owns 269 shares of the construction company’s stock worth $218,000 after purchasing an additional 11 shares in the last quarter. Bridgewater Advisors Inc. increased its holdings in United Rentals by 1.2% during 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 in the last quarter. Fearless Solutions LLC dba Best Invest increased its holdings in United Rentals by 2.2% during 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 in the last quarter. Finally, Legacy Financial Advisors Inc. increased its holdings in United Rentals by 3.9% during the 4th quarter. Legacy Financial Advisors Inc. now owns 322 shares of the construction company’s stock worth $260,000 after purchasing an additional 12 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Price Performance

Shares of URI stock opened at $1,067.62 on Friday. 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 twelve month low of $682.08 and a twelve month high of $1,091.23. The company has a market cap of $66.89 billion, a P/E ratio of 27.24, a P/E/G ratio of 1.72 and a beta of 1.81. The business has a fifty day simple moving average of $885.82 and a 200 day simple moving average of $852.39.

United Rentals (NYSE:URI) last posted its 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 for the quarter, compared to the consensus estimate of $4.20 billion. United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.86 EPS. On average, sell-side analysts forecast that United Rentals, Inc. will post 47.07 EPS for the current fiscal year.

United Rentals Announces Dividend

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

Insider Activity

In related news, EVP Craig Adam Pintoff sold 2,466 shares of the business’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 transaction, the executive vice president owned 14,774 shares in the company, valued at $14,227,362. The trade was a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew John Flannery sold 22,768 shares of the business’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $984.98, for a total transaction of $22,426,024.64. Following the completion of the transaction, 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 position. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,088 shares of company stock worth $25,628,877 in the last three months. Corporate insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

URI has been the subject of several analyst reports. Evercore restated an “outperform” rating and issued a $1,101.00 price objective on shares of United Rentals in a report on Monday, May 11th. JPMorgan Chase & Co. raised their price objective on United Rentals from $850.00 to $1,050.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Morgan Stanley restated an “overweight” rating and issued a $1,030.00 price objective on shares of United Rentals in a report on Friday, April 24th. Sanford C. Bernstein set a $903.00 price objective on United Rentals and gave the company an “outperform” rating in a report on Thursday, April 9th. Finally, Royal Bank Of Canada raised their price objective on United Rentals from $1,041.00 to $1,119.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Twelve investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, United Rentals has a consensus rating of “Moderate Buy” and an average target price of $1,013.63.

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.