Alberta Investment Management Corp Acquires New Shares in United Rentals, Inc. $URI

Alberta Investment Management Corp acquired a new stake in United Rentals, Inc. (NYSE:URI) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 19,600 shares of the construction company’s stock, valued at approximately $15,863,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Silvant Capital Management LLC increased its holdings in shares of United Rentals by 1.6% in the fourth quarter. Silvant Capital Management LLC now owns 7,144 shares of the construction company’s stock worth $5,782,000 after acquiring an additional 115 shares in the last quarter. Sargent Investment Group LLC bought a new stake in shares of United Rentals in the fourth quarter worth about $497,000. MML Investors Services LLC increased its holdings in shares of United Rentals by 23.3% in the fourth quarter. MML Investors Services LLC now owns 17,664 shares of the construction company’s stock worth $14,296,000 after acquiring an additional 3,341 shares in the last quarter. Fieldview Capital Management LLC bought a new stake in shares of United Rentals in the fourth quarter worth about $2,307,000. Finally, Focus Partners Wealth increased its holdings in shares of United Rentals by 13.7% in the fourth quarter. Focus Partners Wealth now owns 48,168 shares of the construction company’s stock worth $38,985,000 after acquiring an additional 5,821 shares in the last quarter. Institutional investors own 96.26% of the company’s stock.

United Rentals Price Performance

NYSE URI opened at $1,082.43 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.37. United Rentals, Inc. has a 12-month low of $682.08 and a 12-month high of $1,106.88. The company has a market capitalization of $67.81 billion, a PE ratio of 27.61, a price-to-earnings-growth ratio of 1.70 and a beta of 1.81. The firm’s 50 day moving average is $927.44 and its 200-day moving average is $864.50.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.20 billion. United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.86 EPS. Equities research analysts anticipate that United Rentals, Inc. will post 47.26 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were given a $1.97 dividend. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, May 13th. United Rentals’s payout ratio is currently 20.10%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on URI shares. Weiss Ratings upgraded United Rentals from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Barclays increased their price target on United Rentals from $600.00 to $715.00 and gave the stock an “underweight” rating in a report on Friday, April 24th. Morgan Stanley restated an “overweight” rating and issued a $1,030.00 price target on shares of United Rentals in a report on Friday, April 24th. KeyCorp increased their price target on United Rentals from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Finally, Truist Financial set a $1,209.00 price target on United Rentals in a report on Friday, April 24th. Thirteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,045.81.

Insider Buying and Selling at United Rentals

In other news, SVP Joli L. Gross sold 306 shares of the business’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $954.99, for a total value of $292,226.94. Following the sale, the senior vice president owned 5,738 shares of the company’s stock, valued at $5,479,732.62. The trade was a 5.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Matthew John Flannery sold 22,768 shares of the business’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $984.98, for a total transaction of $22,426,024.64. Following the completion of the sale, the chief executive officer directly owned 99,980 shares in the company, valued at approximately $98,478,300.40. This represents a 18.55% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 26,088 shares of company stock worth $25,628,877. Company insiders own 0.47% of the company’s stock.

About United Rentals

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.