Cibc World Market Inc. Purchases New Stake in United Rentals, Inc. $URI

Cibc World Market Inc. purchased a new position in United Rentals, Inc. (NYSE:URI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 20,414 shares of the construction company’s stock, valued at approximately $23,127,000.

Other hedge funds have also made changes to their positions in the company. Woodline Partners LP lifted its stake in United Rentals by 40.0% in the first quarter. Woodline Partners LP now owns 5,518 shares of the construction company’s stock valued at $3,458,000 after buying an additional 1,577 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of United Rentals by 24.7% in the second quarter. Sei Investments Co. now owns 27,136 shares of the construction company’s stock valued at $20,444,000 after acquiring an additional 5,375 shares in the last quarter. Treasurer of the State of North Carolina increased its position in shares of United Rentals by 43.6% during the 2nd quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company’s stock valued at $42,233,000 after purchasing an additional 17,030 shares during the period. HUB Investment Partners LLC grew its holdings in United Rentals by 11.3% during the second quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company’s stock worth $1,661,000 after acquiring an additional 223 shares during the period. Finally, Diversify Advisory Services LLC raised its holdings in shares of United Rentals by 338.7% in the 2nd quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company’s stock worth $1,246,000 after purchasing an additional 1,277 shares in the last quarter. Institutional investors own 96.26% of the company’s stock.

Insider Activity at United Rentals

In other news, EVP William E. Grace sold 1,500 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the completion of the transaction, the executive vice president owned 6,062 shares of the company’s stock, valued at approximately $6,869,155.30. This represents a 19.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.47% of the company’s stock.

United Rentals Price Performance

NYSE URI opened at $1,095.21 on Monday. The company has a market cap of $68.17 billion, a P/E ratio of 26.30, a P/E/G ratio of 1.42 and a beta of 1.80. The company has a fifty day simple moving average of $1,099.22 and a 200 day simple moving average of $950.71. United Rentals, Inc. has a 1 year low of $701.59 and a 1 year high of $1,179.18. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, topping analysts’ consensus estimates of $11.53 by $1.23. The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $10.47 earnings per share. On average, sell-side analysts predict that United Rentals, Inc. will post 48.55 EPS for the current year.

United Rentals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be given a $1.97 dividend. This represents a $7.88 annualized dividend and a yield of 0.7%. The ex-dividend date is Wednesday, August 12th. United Rentals’s dividend payout ratio (DPR) is currently 18.92%.

Analyst Ratings Changes

URI has been the subject of several analyst reports. Evercore reaffirmed an “outperform” rating and set a $1,101.00 target price on shares of United Rentals in a report on Monday, May 11th. Citigroup lifted their target price on United Rentals from $1,270.00 to $1,330.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Bank of America upped their target price on United Rentals from $1,195.00 to $1,300.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Wall Street Zen raised shares of United Rentals from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Finally, Wells Fargo & Company raised their price target on shares of United Rentals from $1,245.00 to $1,355.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, United Rentals has an average rating of “Moderate Buy” and a consensus target price of $1,246.19.

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.