Investment Management Corp of Ontario Cuts Stake in United Rentals, Inc. (NYSE:URI)

Investment Management Corp of Ontario decreased its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 27.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,259 shares of the construction company's stock after selling 1,633 shares during the quarter. Investment Management Corp of Ontario's holdings in United Rentals were worth $3,449,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC grew its position in shares of United Rentals by 82,462.2% during the third quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company's stock valued at $1,300,962,000 after purchasing an additional 1,604,715 shares in the last quarter. Marshall Wace LLP grew its holdings in United Rentals by 259.3% during the 2nd quarter. Marshall Wace LLP now owns 150,152 shares of the construction company's stock valued at $97,108,000 after buying an additional 108,360 shares in the last quarter. AGF Management Ltd. grew its holdings in United Rentals by 4,778.7% during the 2nd quarter. AGF Management Ltd. now owns 103,672 shares of the construction company's stock valued at $67,048,000 after buying an additional 101,547 shares in the last quarter. FMR LLC increased its stake in United Rentals by 3.7% in the 3rd quarter. FMR LLC now owns 2,416,568 shares of the construction company's stock worth $1,956,768,000 after acquiring an additional 85,325 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of United Rentals by 10.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 704,145 shares of the construction company's stock worth $570,167,000 after acquiring an additional 66,957 shares in the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Anthony S. Leopold sold 900 shares of the company's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $823.24, for a total transaction 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 $1,682,702.56. This represents a 30.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.49% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on URI. Truist Financial boosted their price target 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. Argus upped their target price on shares of United Rentals from $840.00 to $880.00 and gave the company a "buy" rating in a research report on Wednesday, November 20th. Bank of America lifted their price target on United Rentals from $800.00 to $910.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Evercore ISI upped their price objective on United Rentals from $774.00 to $795.00 and gave the company an "outperform" rating in a research report on Monday, August 19th. Finally, Barclays raised their price objective on United Rentals from $400.00 to $565.00 and gave the company an "underweight" rating in a research note on Friday, October 25th. Three analysts have rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $751.67.

United Rentals Trading Down 0.9 %

Shares of NYSE URI traded down $7.62 during mid-day trading on Wednesday, reaching $861.40. The company had a trading volume of 240,698 shares, compared to its average volume of 542,647. The stock has a market cap of $56.53 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 2.01 and a beta of 1.66. United Rentals, Inc. has a 52 week low of $474.56 and a 52 week high of $896.98. The business's 50-day moving average is $830.96 and its 200-day moving average is $740.69. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing analysts' consensus estimates of $12.49 by ($0.69). United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the company earned $11.73 earnings per share. United Rentals's revenue was up 6.0% on a year-over-year basis. Equities analysts expect that United Rentals, Inc. will post 43.46 earnings per share for the current year.

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Wednesday, November 13th. United Rentals's dividend payout ratio (DPR) is presently 17.03%.

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.