CIBC Private Wealth Group LLC Sells 93,279 Shares of United Rentals, Inc. (NYSE:URI)

CIBC Private Wealth Group LLC trimmed its holdings in United Rentals, Inc. (NYSE:URI - Free Report) by 88.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,512 shares of the construction company's stock after selling 93,279 shares during the period. CIBC Private Wealth Group LLC's holdings in United Rentals were worth $8,383,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Norges Bank bought a new position in United Rentals during the 4th quarter worth about $695,716,000. Proficio Capital Partners LLC bought a new position in shares of United Rentals during the fourth quarter worth about $171,733,000. Raymond James Financial Inc. bought a new position in shares of United Rentals during the fourth quarter worth about $164,493,000. TD Asset Management Inc. raised its position in United Rentals by 207.8% in the 4th quarter. TD Asset Management Inc. now owns 234,366 shares of the construction company's stock valued at $165,097,000 after buying an additional 158,214 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in United Rentals by 15.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company's stock valued at $637,968,000 after acquiring an additional 105,287 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Morgan Stanley lowered their price objective on shares of United Rentals from $775.00 to $765.00 and set an "equal weight" rating on the stock in a report on Monday, February 3rd. Bank of America lowered their price target on shares of United Rentals from $850.00 to $750.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Citigroup reduced their price objective on shares of United Rentals from $985.00 to $835.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Truist Financial reaffirmed a "buy" rating and issued a $956.00 target price (down previously from $963.00) on shares of United Rentals in a research report on Friday, January 31st. Finally, Evercore ISI reduced their price target on United Rentals from $1,004.00 to $974.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. One 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $804.15.

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Insider Activity at United Rentals

In other United Rentals news, CFO William E. Grace sold 1,100 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $638.10, for a total transaction of $701,910.00. Following the transaction, the chief financial officer now owns 6,880 shares in the company, valued at $4,390,128. This represents a 13.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

United Rentals Stock Performance

Shares of URI traded down $54.90 during trading hours on Thursday, hitting $591.27. The company had a trading volume of 760,606 shares, compared to its average volume of 569,303. The business has a fifty day moving average of $674.26 and a 200-day moving average of $752.11. 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 firm has a market cap of $38.63 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 1.43 and a beta of 1.76. United Rentals, Inc. has a 12 month low of $585.27 and a 12 month high of $896.98.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The construction company reported $11.59 earnings per share 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%. Equities analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Wednesday, February 12th. This is a boost from United Rentals's previous quarterly dividend of $1.63. United Rentals's payout ratio is presently 18.48%.

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.