iA Global Asset Management Inc. Reduces Holdings in United Rentals, Inc. (NYSE:URI)

iA Global Asset Management Inc. trimmed its holdings in shares of United Rentals, Inc. (NYSE:URI) by 30.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,984 shares of the construction company’s stock after selling 10,068 shares during the quarter. iA Global Asset Management Inc.’s holdings in United Rentals were worth $14,864,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. First Financial Corp IN purchased a new stake in shares of United Rentals in the 1st quarter worth $25,000. Crewe Advisors LLC purchased a new stake in United Rentals in the first quarter worth about $27,000. RFP Financial Group LLC increased its position in United Rentals by 115.8% in the second quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock worth $27,000 after buying an additional 22 shares in the last quarter. Rise Advisors LLC bought a new position in shares of United Rentals in the first quarter worth about $28,000. Finally, Riverview Trust Co purchased a new position in shares of United Rentals during the 1st quarter valued at about $31,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Joli L. Gross sold 360 shares of United Rentals stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $690.00, for a total value of $248,400.00. Following the completion of the transaction, the senior vice president now owns 4,090 shares in the company, valued at $2,822,100. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. started coverage on shares of United Rentals in a research note on Friday, June 7th. They set an “overweight” rating and a $780.00 target price on the stock. Citigroup started coverage on shares of United Rentals in a research report on Wednesday, June 26th. They set a “buy” rating and a $745.00 price objective on the stock. Raymond James started coverage on shares of United Rentals in a research note on Friday, June 28th. They set an “outperform” rating and a $750.00 target price on the stock. Evercore ISI increased their price target on United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Finally, The Goldman Sachs Group boosted their price objective on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $675.15.

United Rentals Price Performance

NYSE URI traded up $12.52 during trading on Friday, hitting $741.26. 337,844 shares of the stock traded hands, compared to its average volume of 562,286. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.39. United Rentals, Inc. has a 12-month low of $387.01 and a 12-month high of $789.80. The firm has a 50-day simple moving average of $696.98 and a 200-day simple moving average of $680.66. The company has a market capitalization of $49.03 billion, a P/E ratio of 20.08, a price-to-earnings-growth ratio of 1.72 and a beta of 1.71.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share for the quarter, beating analysts’ consensus estimates of $10.48 by $0.22. The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.77 billion. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. United Rentals’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the firm posted $9.88 earnings per share. As a group, analysts predict that United Rentals, Inc. will post 44.4 EPS for the current year.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were issued a $1.63 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.88%. United Rentals’s dividend payout ratio (DPR) is presently 17.66%.

United Rentals 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.