CANADA LIFE ASSURANCE Co Has $58.41 Million Stock Position in United Rentals, Inc. (NYSE:URI)

CANADA LIFE ASSURANCE Co grew its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 8.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 83,033 shares of the construction company's stock after purchasing an additional 6,194 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.13% of United Rentals worth $58,414,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Rialto Wealth Management LLC bought a new position in United Rentals during the 4th quarter worth $25,000. ORG Wealth Partners LLC bought a new position in shares of United Rentals during the fourth quarter worth about $26,000. Murphy & Mullick Capital Management Corp bought a new position in shares of United Rentals during the fourth quarter worth about $27,000. Meeder Asset Management Inc. increased its holdings in shares of United Rentals by 241.7% in the 4th quarter. Meeder Asset Management Inc. now owns 41 shares of the construction company's stock worth $29,000 after acquiring an additional 29 shares during the period. Finally, Hanson & Doremus Investment Management acquired a new position in United Rentals during the 4th quarter valued at about $33,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Stock Performance

URI stock traded up $17.86 during midday trading on Wednesday, hitting $592.62. 346,700 shares of the company traded hands, compared to its average volume of 587,456. United Rentals, Inc. has a twelve month low of $525.91 and a twelve month high of $896.98. The stock has a market capitalization of $38.72 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 1.43 and a beta of 1.72. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. The business has a 50 day simple moving average of $622.56 and a 200-day simple moving average of $730.18.

United Rentals (NYSE:URI - Get Free Report) last posted its earnings results on Wednesday, January 29th. The construction company reported $11.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. As a group, equities research analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a $1.79 dividend. The ex-dividend date was Wednesday, February 12th. This is a positive change from United Rentals's previous quarterly dividend of $1.63. This represents a $7.16 dividend on an annualized basis and a dividend yield of 1.21%. United Rentals's payout ratio is presently 18.48%.

Analysts Set New Price Targets

URI has been the topic of several analyst reports. Evercore ISI dropped their price target on shares of United Rentals from $1,004.00 to $974.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. Bank of America decreased their price objective on shares of United Rentals from $850.00 to $750.00 and set a "buy" rating for the company in a report on Friday, March 21st. Sanford C. Bernstein upgraded shares of United Rentals from an "underperform" rating to a "market perform" rating and dropped their price target for the stock from $705.00 to $666.00 in a research report on Tuesday, March 25th. UBS Group downgraded United Rentals from a "buy" rating to a "sell" rating and cut their price objective for the stock from $910.00 to $485.00 in a report on Monday, April 7th. Finally, Citigroup reduced their target price on United Rentals from $720.00 to $650.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $729.79.

Insider Buying and Selling

In other news, CFO William E. Grace sold 1,100 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $638.10, for a total value of $701,910.00. Following the completion of the sale, the chief financial officer now directly owns 6,880 shares of the company's stock, valued at approximately $4,390,128. This represents a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is owned by insiders.

About United Rentals

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.