National Bank of Canada FI Buys 4,007 Shares of United Rentals, Inc. (NYSE:URI)

National Bank of Canada FI raised its stake in United Rentals, Inc. (NYSE:URI - Free Report) by 10.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,420 shares of the construction company's stock after purchasing an additional 4,007 shares during the quarter. National Bank of Canada FI owned 0.06% of United Rentals worth $29,179,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC grew its stake in United Rentals by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,566,802 shares of the construction company's stock valued at $1,264,326,000 after purchasing an additional 9,256 shares during the period. Alliancebernstein L.P. grew its position in United Rentals by 16.0% during the fourth quarter. Alliancebernstein L.P. now owns 1,250,324 shares of the construction company's stock valued at $880,778,000 after buying an additional 172,340 shares during the period. Franklin Resources Inc. grew its position in United Rentals by 9.8% during the fourth quarter. Franklin Resources Inc. now owns 1,093,350 shares of the construction company's stock valued at $770,199,000 after buying an additional 97,336 shares during the period. Norges Bank purchased a new stake in United Rentals during the fourth quarter worth about $695,716,000. Finally, JPMorgan Chase & Co. raised its position in United Rentals by 15.4% in the third quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company's stock worth $637,968,000 after acquiring an additional 105,287 shares during the period. 96.26% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on URI. Morgan Stanley reduced their target price on shares of United Rentals from $775.00 to $765.00 and set an "equal weight" rating for the company in a research report on Monday, February 3rd. JPMorgan Chase & Co. increased their price objective on United Rentals from $940.00 to $1,000.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Evercore ISI lowered their target price on 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. Truist Financial reiterated a "buy" rating and set a $956.00 price target (down previously from $963.00) on shares of United Rentals in a research note on Friday, January 31st. Finally, Sanford C. Bernstein upgraded United Rentals from an "underperform" rating to a "market perform" rating and lowered their price objective for the company from $705.00 to $666.00 in a research note on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, United Rentals currently has an average rating of "Moderate Buy" and an average target price of $804.15.

United Rentals Price Performance

Shares of URI traded down $26.61 during midday trading on Friday, hitting $564.56. 1,180,723 shares of the company traded hands, compared to its average volume of 572,625. The stock has a 50-day moving average of $669.75 and a 200-day moving average of $750.88. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92. United Rentals, Inc. has a one year low of $545.37 and a one year high of $896.98. The firm has a market cap of $36.88 billion, a P/E ratio of 14.57, a PEG ratio of 1.43 and a beta of 1.72.

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 the consensus estimate of $11.65 by ($0.06). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. As a group, sell-side analysts predict that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a dividend of $1.79 per share. This is a positive change from United Rentals's previous quarterly dividend of $1.63. The ex-dividend date was Wednesday, February 12th. This represents a $7.16 annualized dividend and a yield of 1.27%. United Rentals's dividend payout ratio (DPR) is currently 18.48%.

Insider Buying and Selling

In other news, CFO William E. Grace sold 1,100 shares of United Rentals stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $638.10, for a total transaction of $701,910.00. Following the completion of the sale, the chief financial officer now owns 6,880 shares in the company, valued at approximately $4,390,128. This trade represents a 13.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.53% of the stock is owned by company insiders.

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.