Mackenzie Financial Corp Has $50.61 Million Position in United Rentals, Inc. (NYSE:URI)

Mackenzie Financial Corp lowered its position in United Rentals, Inc. (NYSE:URI) by 11.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 88,259 shares of the construction company’s stock after selling 11,416 shares during the quarter. Mackenzie Financial Corp’s holdings in United Rentals were worth $50,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ballentine Partners LLC increased its stake in shares of United Rentals by 2.1% in the fourth quarter. Ballentine Partners LLC now owns 889 shares of the construction company’s stock valued at $510,000 after buying an additional 18 shares during the period. Oak Ridge Investments LLC increased its position in United Rentals by 0.3% during the 4th quarter. Oak Ridge Investments LLC now owns 5,816 shares of the construction company’s stock valued at $3,335,000 after purchasing an additional 20 shares during the period. Caprock Group LLC increased its position in United Rentals by 2.3% during the 4th quarter. Caprock Group LLC now owns 900 shares of the construction company’s stock valued at $516,000 after purchasing an additional 20 shares during the period. AdvisorNet Financial Inc increased its position in United Rentals by 71.4% during the 4th quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock valued at $28,000 after purchasing an additional 20 shares during the period. Finally, Kennedy Investment Group increased its position in United Rentals by 0.8% during the 4th quarter. Kennedy Investment Group now owns 2,733 shares of the construction company’s stock valued at $1,567,000 after purchasing an additional 21 shares during the period. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insider Buying and Selling at United Rentals

In other United Rentals news, CFO William E. Grace sold 775 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $655.62, for a total transaction of $508,105.50. Following the transaction, the chief financial officer now directly owns 6,323 shares in the company, valued at approximately $4,145,485.26. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Evercore ISI increased their target price on shares of United Rentals from $575.00 to $740.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. BNP Paribas reissued an “underperform” rating and set a $485.00 target price on shares of United Rentals in a research report on Friday, January 5th. Morgan Stanley initiated coverage on United Rentals in a report on Monday, January 8th. They set an “equal weight” rating and a $500.00 price target on the stock. Robert W. Baird increased their price target on United Rentals from $322.00 to $559.00 and gave the stock an “underperform” rating in a report on Friday, January 26th. Finally, Barclays increased their price target on United Rentals from $325.00 to $400.00 and gave the stock an “underweight” rating in a report on Friday, January 26th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $589.21.

United Rentals Price Performance

Shares of URI opened at $655.97 on Wednesday. United Rentals, Inc. has a 12-month low of $325.15 and a 12-month high of $732.37. The business’s fifty day moving average is $680.99 and its 200 day moving average is $568.14. The company has a quick ratio of 0.75, a current ratio of 0.81 and a debt-to-equity ratio of 1.24. The stock has a market cap of $44.06 billion, a P/E ratio of 18.56, a P/E/G ratio of 2.31 and a beta of 1.84.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, January 24th. The construction company reported $11.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.85 by $0.41. United Rentals had a return on equity of 36.80% and a net margin of 16.91%. The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.63 billion. During the same period last year, the business earned $9.74 EPS. United Rentals’s quarterly revenue was up 13.1% compared to the same quarter last year. Sell-side analysts anticipate that United Rentals, Inc. will post 43.13 earnings per share for the current fiscal year.

United Rentals announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 24th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to purchase up to 3.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

United Rentals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were paid a dividend of $1.63 per share. The ex-dividend date was Tuesday, February 13th. This is a boost from United Rentals’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 0.99%. United Rentals’s dividend payout ratio (DPR) is 18.44%.

United Rentals Company Profile

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.