Canada Pension Plan Investment Board Cuts Position in United Rentals, Inc. (NYSE:URI)

Canada Pension Plan Investment Board decreased its holdings in United Rentals, Inc. (NYSE:URI) by 49.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 15,235 shares of the construction company’s stock after selling 14,911 shares during the quarter. Canada Pension Plan Investment Board’s holdings in United Rentals were worth $9,853,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of URI. Davidson Capital Management Inc. grew its position in United Rentals by 2.0% in the second quarter. Davidson Capital Management Inc. now owns 4,534 shares of the construction company’s stock valued at $2,932,000 after acquiring an additional 88 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in United Rentals by 3.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,038 shares of the construction company’s stock valued at $2,612,000 after acquiring an additional 118 shares in the last quarter. Ieq Capital LLC grew its position in United Rentals by 7.3% in the second quarter. Ieq Capital LLC now owns 3,573 shares of the construction company’s stock valued at $2,311,000 after acquiring an additional 242 shares in the last quarter. Brighton Jones LLC acquired a new stake in United Rentals in the second quarter valued at approximately $271,000. Finally, Intech Investment Management LLC grew its position in United Rentals by 44.7% in the second quarter. Intech Investment Management LLC now owns 32,660 shares of the construction company’s stock valued at $21,122,000 after acquiring an additional 10,094 shares in the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Insider Buying and Selling at United Rentals

In other United Rentals news, SVP Joli L. Gross sold 360 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $690.00, for a total value of $248,400.00. Following the sale, the senior vice president now directly owns 4,090 shares in the company, valued at $2,822,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.53% of the stock is currently owned by company insiders.

United Rentals Stock Performance

URI stock opened at $802.26 on Wednesday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 0.81. The stock has a market capitalization of $53.42 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 1.72 and a beta of 1.68. United Rentals, Inc. has a 1 year low of $387.01 and a 1 year high of $807.79. The stock’s fifty day moving average is $725.29 and its two-hundred day moving average is $689.02.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.48 by $0.22. The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.77 billion. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the business posted $9.88 earnings per share. On average, research analysts predict that United Rentals, Inc. will post 44.39 EPS for the current year.

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend was Wednesday, August 14th. United Rentals’s payout ratio is 17.66%.

Analyst Upgrades and Downgrades

URI has been the subject of several recent research reports. Citigroup initiated coverage on shares of United Rentals in a research report on Wednesday, June 26th. They issued a “buy” rating and a $745.00 price objective for the company. Truist Financial raised their price target on shares of United Rentals from $785.00 to $873.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. raised their price target on shares of United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a research report on Monday. Evercore ISI raised their price target on shares of United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Finally, The Goldman Sachs Group raised their price target on shares of United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued 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 $687.46.

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.