Canandaigua National Bank & Trust Co. Has $721,000 Position in United Rentals, Inc. (NYSE:URI)

Canandaigua National Bank & Trust Co. reduced its position in shares of United Rentals, Inc. (NYSE:URI) by 1.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,000 shares of the construction company’s stock after selling 18 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in United Rentals were worth $721,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in URI. Kestra Advisory Services LLC increased its stake in shares of United Rentals by 38.4% in the third quarter. Kestra Advisory Services LLC now owns 4,972 shares of the construction company’s stock worth $2,210,000 after acquiring an additional 1,380 shares during the last quarter. Rafferty Asset Management LLC increased its stake in shares of United Rentals by 6.2% in the third quarter. Rafferty Asset Management LLC now owns 6,305 shares of the construction company’s stock worth $2,803,000 after acquiring an additional 367 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in shares of United Rentals in the third quarter worth $652,000. Grantham Mayo Van Otterloo & Co. LLC increased its stake in shares of United Rentals by 8.5% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 11,136 shares of the construction company’s stock worth $4,951,000 after acquiring an additional 869 shares during the last quarter. Finally, Invesco Ltd. increased its position in United Rentals by 19.1% during the third quarter. Invesco Ltd. now owns 933,428 shares of the construction company’s stock worth $414,974,000 after buying an additional 149,838 shares during the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Stock Up 4.1 %

Shares of URI opened at $644.89 on Wednesday. The stock has a market cap of $42.94 billion, a price-to-earnings ratio of 17.47, a P/E/G ratio of 2.01 and a beta of 1.75. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 1.39. United Rentals, Inc. has a 12 month low of $387.01 and a 12 month high of $732.37. The company has a 50-day moving average price of $664.49 and a two-hundred day moving average price of $636.76.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, April 24th. The construction company reported $9.15 EPS for the quarter, topping analysts’ consensus estimates of $8.35 by $0.80. The firm had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.44 billion. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $7.95 earnings per share. Equities analysts predict that United Rentals, Inc. will post 43.77 EPS for the current fiscal year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Tuesday, May 7th. United Rentals’s payout ratio is 17.66%.

Wall Street Analysts Forecast Growth

URI has been the topic of several analyst reports. Oppenheimer reissued a “market perform” rating on shares of United Rentals in a research report on Monday, April 29th. Evercore ISI upped their price target on shares of United Rentals from $575.00 to $740.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. The Goldman Sachs Group upped their price target on shares of United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Stifel Nicolaus upped their price target on shares of United Rentals from $720.00 to $750.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, JPMorgan Chase & Co. started coverage on shares of United Rentals in a report on Friday, June 7th. They set an “overweight” rating and a $780.00 price target for the company. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $612.73.

Insider Transactions at United Rentals

In other news, CEO Matthew John Flannery sold 8,379 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total transaction of $5,862,199.77. Following the completion of the sale, the chief executive officer now owns 103,400 shares of the company’s stock, valued at $72,341,742. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, COO Michael D. Durand sold 559 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $674.56, for a total value of $377,079.04. Following the completion of the sale, the chief operating officer now owns 8,052 shares of the company’s stock, valued at $5,431,557.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Matthew John Flannery sold 8,379 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total transaction of $5,862,199.77. Following the completion of the sale, the chief executive officer now directly owns 103,400 shares of the company’s stock, valued at approximately $72,341,742. The disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.

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.