Ontario Teachers Pension Plan Board Invests $41.85 Million in United Rentals, Inc. $URI

Ontario Teachers Pension Plan Board purchased a new position in United Rentals, Inc. (NYSE:URI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 36,937 shares of the construction company’s stock, valued at approximately $41,846,000. Ontario Teachers Pension Plan Board owned about 0.06% of United Rentals at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. MidFirst Bank acquired a new position in shares of United Rentals during the second quarter valued at $31,000. Core Wealth Advisors LLC acquired a new position in United Rentals during the 4th quarter valued at about $28,000. MV Capital Management Inc. bought a new position in United Rentals in the 4th quarter worth about $28,000. Bell Investment Advisors Inc acquired a new stake in shares of United Rentals in the second quarter valued at approximately $40,000. Finally, Laurel Wealth Advisors LLC bought a new stake in shares of United Rentals during the fourth quarter valued at approximately $32,000. 96.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

URI has been the topic of several analyst reports. Zacks Research upgraded United Rentals from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Wells Fargo & Company lifted their price objective on shares of United Rentals from $1,245.00 to $1,355.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Morgan Stanley set a $1,335.00 target price on shares of United Rentals and gave the company an “overweight” rating in a research report on Friday, July 24th. Evercore restated an “outperform” rating and set a $1,101.00 price target on shares of United Rentals in a research report on Monday, May 11th. Finally, KeyCorp reiterated an “overweight” rating and issued a $1,350.00 price objective on shares of United Rentals in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, United Rentals presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,246.19.

United Rentals Trading Down 4.1%

Shares of NYSE URI opened at $1,117.24 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38. United Rentals, Inc. has a 12 month low of $701.59 and a 12 month high of $1,179.18. The company has a market cap of $69.54 billion, a price-to-earnings ratio of 26.83, a P/E/G ratio of 1.49 and a beta of 1.80. The business has a fifty day simple moving average of $1,097.10 and a 200-day simple moving average of $943.95.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, topping analysts’ consensus estimates of $11.53 by $1.23. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The firm had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter last year, the business posted $10.47 EPS. United Rentals’s revenue was up 11.8% on a year-over-year basis. Sell-side analysts predict that United Rentals, Inc. will post 48.55 EPS for the current year.

United Rentals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be issued a dividend of $1.97 per share. The ex-dividend date is Wednesday, August 12th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. United Rentals’s payout ratio is currently 18.92%.

Insider Activity at United Rentals

In related news, EVP William E. Grace sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the completion of the sale, the executive vice president owned 6,062 shares in the company, valued at approximately $6,869,155.30. This represents a 19.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.47% of the company’s stock.

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.