90,778 Shares in United Rentals, Inc. $URI Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board acquired a new position in United Rentals, Inc. (NYSE:URI) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 90,778 shares of the construction company’s stock, valued at approximately $102,841,000. Canada Pension Plan Investment Board owned approximately 0.15% of United Rentals at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of United Rentals in the 2nd quarter worth about $5,816,326,000. Norges Bank bought a new stake in United Rentals during the fourth quarter worth about $978,017,000. The Manufacturers Life Insurance Company bought a new stake in United Rentals during the second quarter worth about $716,129,000. Bank of New York Mellon Corp purchased a new stake in United Rentals in the second quarter worth about $412,860,000. Finally, Legal & General Group Plc bought a new position in shares of United Rentals during the second quarter valued at approximately $411,896,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Morgan Stanley set a $1,335.00 price target on United Rentals and gave the stock an “overweight” rating in a research report on Friday, July 24th. Weiss Ratings raised United Rentals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 23rd. Robert W. Baird set a $1,300.00 price objective on United Rentals in a research note on Friday, July 24th. Zacks Research raised United Rentals from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $1,275.00 target price on shares of United Rentals in a research note on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,246.19.

United Rentals Stock Performance

Shares of URI stock opened at $1,058.50 on Thursday. The company has a 50 day moving average price of $1,099.04 and a 200-day moving average price of $955.68. United Rentals, Inc. has a 52 week low of $701.59 and a 52 week high of $1,179.18. The firm has a market capitalization of $65.88 billion, a PE ratio of 25.42, a P/E/G ratio of 1.36 and a beta of 1.80. 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 (NYSE:URI) last released its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, beating the consensus estimate of $11.53 by $1.23. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The firm had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.22 billion. During the same period in the previous year, the company earned $10.47 earnings per share. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. As a group, equities research analysts expect that United Rentals, Inc. will post 48.55 earnings per share for the current year.

United Rentals Dividend Announcement

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

Insider Buying and Selling at United Rentals

In other news, EVP William E. Grace sold 1,500 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the transaction, the executive vice president directly owned 6,062 shares of the company’s stock, valued at $6,869,155.30. This represents a 19.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is owned by insiders.

United Rentals Company Profile

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.