Canada Pension Plan Investment Board Acquires 37,919 Shares of United Rentals, Inc. (NYSE:URI)

Canada Pension Plan Investment Board raised its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 483.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 45,757 shares of the construction company's stock after buying an additional 37,919 shares during the period. Canada Pension Plan Investment Board owned about 0.07% of United Rentals worth $32,233,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Adell Harriman & Carpenter Inc. grew its stake in shares of United Rentals by 1.8% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 814 shares of the construction company's stock worth $573,000 after acquiring an additional 14 shares during the period. Valmark Advisers Inc. raised its holdings in United Rentals by 1.8% during the 4th quarter. Valmark Advisers Inc. now owns 788 shares of the construction company's stock valued at $555,000 after acquiring an additional 14 shares during the period. Erste Asset Management GmbH lifted its position in shares of United Rentals by 0.5% during the fourth quarter. Erste Asset Management GmbH now owns 2,794 shares of the construction company's stock worth $2,002,000 after acquiring an additional 14 shares in the last quarter. Klingman & Associates LLC boosted its holdings in shares of United Rentals by 2.3% in the fourth quarter. Klingman & Associates LLC now owns 669 shares of the construction company's stock worth $471,000 after acquiring an additional 15 shares during the period. Finally, Moody National Bank Trust Division raised its stake in shares of United Rentals by 4.5% during the 4th quarter. Moody National Bank Trust Division now owns 368 shares of the construction company's stock valued at $259,000 after purchasing an additional 16 shares during the period. Institutional investors and hedge funds own 96.26% of the company's stock.

Wall Street Analysts Forecast Growth

URI has been the topic of a number of recent analyst reports. Robert W. Baird raised shares of United Rentals from an "underperform" rating to a "neutral" rating and set a $658.00 price target on the stock in a report on Tuesday, January 14th. Citigroup reduced their price target on shares of United Rentals from $720.00 to $650.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Truist Financial dropped their price objective on United Rentals from $956.00 to $732.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. JPMorgan Chase & Co. decreased their price objective on shares of United Rentals from $1,000.00 to $750.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Finally, Baird R W raised shares of United Rentals from a "strong sell" rating to a "hold" rating in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $729.79.

United Rentals Trading Up 2.6 %

NYSE URI traded up $14.89 during trading on Wednesday, hitting $589.65. The company had a trading volume of 884,239 shares, compared to its average volume of 589,524. The company's fifty day moving average is $622.56 and its 200-day moving average is $730.18. United Rentals, Inc. has a one year low of $525.91 and a one year high of $896.98. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42. The company has a market cap of $38.52 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 1.43 and a beta of 1.72.

United Rentals (NYSE:URI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The construction company reported $8.86 earnings per share for the quarter, missing the consensus estimate of $8.92 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. On average, sell-side analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th will be given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 1.21%. United Rentals's dividend payout ratio is currently 18.48%.

Insider Transactions at United Rentals

In related news, CFO William E. Grace sold 1,100 shares of the company's 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 sale, the chief financial officer now owns 6,880 shares in the company, valued at $4,390,128. This represents a 13.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.53% of the company's stock.

United Rentals Company 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.