iA Global Asset Management Inc. Sells 16,975 Shares of United Rentals, Inc. $URI

iA Global Asset Management Inc. lowered its stake in United Rentals, Inc. (NYSE:URI) by 61.7% during the first quarter, Holdings Channel reports. The institutional investor owned 10,516 shares of the construction company’s stock after selling 16,975 shares during the period. iA Global Asset Management Inc.’s holdings in United Rentals were worth $7,662,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of URI. Norges Bank bought a new position in shares of United Rentals during the fourth quarter worth approximately $978,017,000. Capital International Investors lifted its holdings in shares of United Rentals by 22.8% during the third quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock worth $3,247,762,000 after buying an additional 631,484 shares in the last quarter. Corient Private Wealth LLC boosted its position in shares of United Rentals by 1,667.4% in the fourth quarter. Corient Private Wealth LLC now owns 343,965 shares of the construction company’s stock valued at $278,378,000 after acquiring an additional 324,503 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of United Rentals by 3,459.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 196,688 shares of the construction company’s stock valued at $159,184,000 after acquiring an additional 191,162 shares during the period. Finally, Capital World Investors grew its stake in shares of United Rentals by 6.7% in the third quarter. Capital World Investors now owns 2,678,614 shares of the construction company’s stock valued at $2,557,158,000 after acquiring an additional 168,685 shares in the last quarter. 96.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on URI. Robert W. Baird raised their price target on shares of United Rentals from $970.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Evercore reissued an “outperform” rating and issued a $1,101.00 price objective on shares of United Rentals in a report on Monday, May 11th. Morgan Stanley restated an “overweight” rating and set a $1,030.00 target price on shares of United Rentals in a research report on Friday, April 24th. Raymond James Financial reaffirmed an “outperform” rating and set a $1,275.00 target price on shares of United Rentals in a report on Wednesday, June 10th. Finally, Citigroup lifted their price target on shares of United Rentals from $950.00 to $1,130.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Fifteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, United Rentals currently has a consensus rating of “Moderate Buy” and an average target price of $1,106.44.

Insiders Place Their Bets

In other United Rentals news, SVP Joli L. Gross sold 306 shares of the business’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $954.99, for a total transaction of $292,226.94. Following the completion of the transaction, the senior vice president owned 5,738 shares of the company’s stock, valued at approximately $5,479,732.62. The trade was a 5.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Andrew B. Limoges sold 548 shares of the stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $977.86, for a total transaction of $535,867.28. Following the completion of the transaction, the vice president directly owned 1,865 shares of the company’s stock, valued at $1,823,708.90. This trade represents a 22.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 26,088 shares of company stock valued at $25,628,877 in the last quarter. Corporate insiders own 0.47% of the company’s stock.

United Rentals Stock Performance

NYSE URI opened at $1,113.81 on Thursday. The firm’s 50 day simple moving average is $1,006.44 and its 200 day simple moving average is $888.89. The firm has a market capitalization of $69.78 billion, a price-to-earnings ratio of 28.41, a P/E/G ratio of 1.81 and a beta of 1.79. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37. United Rentals, Inc. has a 1 year low of $701.59 and a 1 year high of $1,143.69.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing the consensus estimate of $11.47 by ($1.76). United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The firm had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.20 billion. During the same quarter in the prior year, the firm earned $8.86 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, research analysts expect that United Rentals, Inc. will post 46.76 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were issued a dividend of $1.97 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. United Rentals’s payout ratio is 20.10%.

About United Rentals

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.