iA Global Asset Management Inc. Sells 715 Shares of United Rentals, Inc. (NYSE:URI)

iA Global Asset Management Inc. reduced its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,269 shares of the construction company's stock after selling 715 shares during the quarter. iA Global Asset Management Inc.'s holdings in United Rentals were worth $18,505,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. First County Bank CT lifted its holdings in shares of United Rentals by 3.2% in the third quarter. First County Bank CT now owns 422 shares of the construction company's stock valued at $342,000 after purchasing an additional 13 shares in the last quarter. Allen Capital Group LLC grew its holdings in shares of United Rentals by 4.2% during the third quarter. Allen Capital Group LLC now owns 324 shares of the construction company's stock worth $262,000 after buying an additional 13 shares in the last quarter. Adell Harriman & Carpenter Inc. raised its position in United Rentals by 1.8% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 814 shares of the construction company's stock valued at $573,000 after buying an additional 14 shares during the last quarter. Valmark Advisers Inc. lifted its stake in United Rentals by 1.8% in 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 in the last quarter. Finally, Erste Asset Management GmbH boosted its position in United Rentals by 0.5% during the 4th 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 during the last quarter. 96.26% of the stock is owned by institutional investors.

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Insider Transactions at United Rentals

In other news, CFO William E. Grace sold 1,100 shares of the business's stock in a transaction dated Monday, February 24th. The shares were 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 owns 6,880 shares of the company's stock, valued at approximately $4,390,128. The trade was a 13.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.53% of the company's stock.

United Rentals Stock Performance

Shares of URI stock traded up $19.77 during trading on Monday, reaching $647.93. 614,886 shares of the company's stock were exchanged, compared to its average volume of 547,839. United Rentals, Inc. has a twelve month low of $585.27 and a twelve month high of $896.98. The firm's fifty day moving average price is $695.59 and its 200-day moving average price is $756.81. 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 stock has a market capitalization of $42.31 billion, a PE ratio of 16.72, a PEG ratio of 1.43 and a beta of 1.76.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The construction company reported $11.59 EPS for the quarter, missing the consensus estimate 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, sell-side analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given a dividend of $1.79 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This is an increase from United Rentals's previous quarterly dividend of $1.63. This represents a $7.16 annualized dividend and a yield of 1.11%. United Rentals's dividend payout ratio (DPR) is 18.48%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on URI shares. Truist Financial reiterated a "buy" rating and issued a $956.00 price objective (down from $963.00) on shares of United Rentals in a report on Friday, January 31st. Baird R W raised shares of United Rentals from a "strong sell" rating to a "hold" rating in a research report on Tuesday, January 14th. Bank of America decreased their price objective on United Rentals from $850.00 to $750.00 and set a "buy" rating for the company in a report on Friday. Robert W. Baird raised United Rentals from an "underperform" rating to a "neutral" rating and set a $658.00 price target for the company in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. raised their price target on United Rentals from $940.00 to $1,000.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $815.67.

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.