CIBC Asset Management Inc Boosts Stake in United Rentals, Inc. (NYSE:URI)

CIBC Asset Management Inc boosted its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 8.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,729 shares of the construction company's stock after acquiring an additional 747 shares during the quarter. CIBC Asset Management Inc's holdings in United Rentals were worth $7,878,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of URI. Crewe Advisors LLC purchased a new stake in United Rentals in the 1st quarter valued at approximately $27,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of United Rentals in the third quarter valued at approximately $31,000. RFP Financial Group LLC boosted its stake in shares of United Rentals by 115.8% in the second quarter. RFP Financial Group LLC now owns 41 shares of the construction company's stock valued at $27,000 after buying an additional 22 shares in the last quarter. Carmichael Hill & Associates Inc. grew its holdings in United Rentals by 80.0% during the third quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company's stock worth $36,000 after acquiring an additional 20 shares during the period. Finally, HM Payson & Co. purchased a new position in United Rentals in the third quarter worth $41,000. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

URI has been the topic of a number of recent analyst reports. Robert W. Baird upped their price target on shares of United Rentals from $565.00 to $650.00 and gave the stock an "underperform" rating in a research note on Thursday, October 3rd. Truist Financial upped their target price on shares of United Rentals from $954.00 to $955.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Citigroup boosted their price target on United Rentals from $930.00 to $955.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Evercore ISI upped their price target on United Rentals from $774.00 to $795.00 and gave the stock an "outperform" rating in a report on Monday, August 19th. Finally, Barclays lifted their price objective on United Rentals from $400.00 to $565.00 and gave the stock an "underweight" rating in a report on Friday, October 25th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $742.50.

United Rentals Trading Down 0.4 %

NYSE URI traded down $3.06 during mid-day trading on Monday, reaching $832.94. 469,615 shares of the stock were exchanged, compared to its average volume of 547,478. United Rentals, Inc. has a 1-year low of $454.71 and a 1-year high of $896.98. The stock has a market capitalization of $54.66 billion, a PE ratio of 21.73, a PEG ratio of 1.96 and a beta of 1.68. The business's fifty day simple moving average is $807.10 and its 200 day simple moving average is $726.74. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.77 and a current ratio of 0.82.

United Rentals (NYSE:URI - Get Free Report) last released its earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.49 by ($0.69). The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.01 billion. United Rentals had a return on equity of 34.73% and a net margin of 17.12%. United Rentals's revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $11.73 earnings per share. On average, research analysts anticipate that United Rentals, Inc. will post 43.55 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Wednesday, November 13th. United Rentals's dividend payout ratio is currently 17.03%.

Insider Transactions at United Rentals

In related news, SVP Anthony S. Leopold sold 900 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $823.24, for a total value of $740,916.00. Following the completion of the sale, the senior vice president now directly owns 2,044 shares in the company, valued at approximately $1,682,702.56. This represents a 30.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.49% of the company's stock.

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.