United Rentals, Inc. (NYSE:URI) Shares Sold by Investment Management Corp of Ontario

Investment Management Corp of Ontario cut its position in United Rentals, Inc. (NYSE:URI) by 27.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,259 shares of the construction company’s stock after selling 1,633 shares during the period. Investment Management Corp of Ontario’s holdings in United Rentals were worth $3,449,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of URI. Mather Group LLC. increased its stake in United Rentals by 4.5% in the second quarter. Mather Group LLC. now owns 1,005 shares of the construction company’s stock valued at $650,000 after purchasing an additional 43 shares during the last quarter. Simplicity Wealth LLC grew its position in shares of United Rentals by 0.9% in the 2nd quarter. Simplicity Wealth LLC now owns 2,223 shares of the construction company’s stock valued at $1,438,000 after buying an additional 20 shares during the last quarter. Canandaigua National Bank & Trust Co. raised its stake in United Rentals by 7.3% during the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 1,073 shares of the construction company’s stock worth $694,000 after acquiring an additional 73 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its position in United Rentals by 0.4% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 3,841 shares of the construction company’s stock valued at $2,484,000 after acquiring an additional 17 shares during the last quarter. Finally, BDF Gestion acquired a new position in United Rentals in the second quarter valued at $2,998,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on URI shares. Argus lifted their target price on United Rentals from $840.00 to $880.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Robert W. Baird lifted their price target on United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research report on Thursday, October 3rd. Citigroup boosted their price objective on United Rentals from $930.00 to $955.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Bank of America raised their target price on shares of United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Evercore ISI upped their price target on shares of United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $751.67.

Insider Buying and Selling

In related news, SVP Anthony S. Leopold sold 900 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $823.24, for a total value of $740,916.00. Following the sale, the senior vice president now directly owns 2,044 shares of the company’s stock, valued at approximately $1,682,702.56. This represents a 30.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.49% of the stock is currently owned by insiders.

United Rentals Stock Performance

NYSE:URI opened at $869.17 on Wednesday. The firm’s fifty day simple moving average is $829.62 and its 200-day simple moving average is $739.40. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 1.38. The stock has a market cap of $57.03 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 2.01 and a beta of 1.66. United Rentals, Inc. has a fifty-two week low of $474.56 and a fifty-two week high of $896.98.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the prior year, the firm posted $11.73 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. Analysts expect that United Rentals, Inc. will post 43.46 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Wednesday, November 13th. United Rentals’s payout ratio is currently 17.03%.

About United Rentals

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.