Ontario Teachers Pension Plan Board Sells 3,611 Shares of United Rentals, Inc. (NYSE:URI)

Ontario Teachers Pension Plan Board cut its position in United Rentals, Inc. (NYSE:URI - Free Report) by 61.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,289 shares of the construction company's stock after selling 3,611 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in United Rentals were worth $1,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in URI. First Horizon Advisors Inc. raised its holdings in shares of United Rentals by 3.5% during the third quarter. First Horizon Advisors Inc. now owns 565 shares of the construction company's stock valued at $458,000 after acquiring an additional 19 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of United Rentals by 2.6% in the third quarter. Advisors Asset Management Inc. now owns 14,630 shares of the construction company's stock worth $11,846,000 after buying an additional 365 shares during the period. PCJ Investment Counsel Ltd. grew its holdings in United Rentals by 9.8% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 8,970 shares of the construction company's stock valued at $7,263,000 after buying an additional 800 shares in the last quarter. Premier Fund Managers Ltd boosted its stake in United Rentals by 7.1% during the third quarter. Premier Fund Managers Ltd now owns 24,350 shares of the construction company's stock valued at $19,832,000 after buying an additional 1,604 shares during the last quarter. Finally, Avior Wealth Management LLC raised its position in United Rentals by 24.0% during the third quarter. Avior Wealth Management LLC now owns 217 shares of the construction company's stock valued at $176,000 after purchasing an additional 42 shares during the period. Institutional investors own 96.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on URI. Bank of America lifted their target price on United Rentals from $800.00 to $910.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Truist Financial increased their target price on shares of United Rentals from $954.00 to $955.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. JPMorgan Chase & Co. raised their price target on United Rentals from $780.00 to $940.00 and gave the company an "overweight" rating in a research note on Monday, September 23rd. Robert W. Baird increased their target price on United Rentals from $565.00 to $650.00 and gave the stock an "underperform" rating in a research note on Thursday, October 3rd. Finally, The Goldman Sachs Group raised their price objective on shares of United Rentals from $790.00 to $905.00 and gave the company a "buy" rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $751.67.

Insider Activity

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of the firm's stock in a transaction dated 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 transaction, the senior vice president now owns 2,044 shares in the company, valued at $1,682,702.56. This trade represents a 30.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.49% of the stock is currently owned by company insiders.

United Rentals Stock Down 0.1 %

NYSE URI traded down $0.91 during trading on Wednesday, hitting $820.25. The stock had a trading volume of 402,101 shares, compared to its average volume of 546,490. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.77 and a current ratio of 0.82. The company's 50-day moving average price is $812.18 and its two-hundred day moving average price is $729.02. The company has a market capitalization of $53.82 billion, a PE ratio of 21.52, a P/E/G ratio of 1.96 and a beta of 1.68. United Rentals, Inc. has a 12 month low of $454.71 and a 12 month high of $896.98.

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

United Rentals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $6.52 annualized dividend and a yield of 0.79%. United Rentals's dividend payout ratio is currently 17.03%.

United Rentals 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.