OMERS ADMINISTRATION Corp Invests $4.01 Million in United Rentals, Inc. $URI

OMERS ADMINISTRATION Corp purchased a new stake in United Rentals, Inc. (NYSE:URI) in the second quarter, Holdings Channel reports. The firm purchased 3,544 shares of the construction company’s stock, valued at approximately $4,015,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. PFG Investments LLC boosted its stake in United Rentals by 0.9% during the first quarter. PFG Investments LLC now owns 1,172 shares of the construction company’s stock worth $854,000 after buying an additional 11 shares during the last quarter. CoreCap Advisors LLC increased its stake in shares of United Rentals by 16.9% in the 2nd quarter. CoreCap Advisors LLC now owns 76 shares of the construction company’s stock worth $86,000 after acquiring an additional 11 shares during the last quarter. Great Valley Advisor Group Inc. raised its holdings in shares of United Rentals by 2.9% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock worth $292,000 after acquiring an additional 11 shares during the period. Legacy Financial Advisors Inc. raised its holdings in shares of United Rentals by 3.9% during the 4th quarter. Legacy Financial Advisors Inc. now owns 322 shares of the construction company’s stock worth $260,000 after acquiring an additional 12 shares during the period. Finally, Moss Adams Wealth Advisors LLC boosted its position in shares of United Rentals by 2.0% during the 1st quarter. Moss Adams Wealth Advisors LLC now owns 605 shares of the construction company’s stock valued at $441,000 after acquiring an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Insider Activity at United Rentals

In related news, EVP William E. Grace sold 1,500 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president directly owned 6,062 shares in the company, valued at approximately $6,869,155.30. This represents a 19.84% decrease in their ownership of the stock. The transaction 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 Stock Performance

Shares of URI stock opened at $1,052.07 on Wednesday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.70 and a current ratio of 0.76. The firm has a market cap of $65.48 billion, a P/E ratio of 25.27, a P/E/G ratio of 1.40 and a beta of 1.80. The firm’s 50 day moving average price is $1,098.88 and its 200-day moving average price is $954.20. United Rentals, Inc. has a one year low of $701.59 and a one year high of $1,179.18.

United Rentals (NYSE:URI) last posted its earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, beating the consensus estimate of $11.53 by $1.23. The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $10.47 EPS. As a group, equities research analysts predict that United Rentals, Inc. will post 48.55 EPS for the current year.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be given a dividend of $1.97 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. United Rentals’s payout ratio is currently 18.92%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on URI. BNP Paribas Exane raised shares of United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price objective for the company in a report on Monday, June 29th. Raymond James Financial reaffirmed an “outperform” rating and set a $1,275.00 target price on shares of United Rentals in a research note on Wednesday, June 10th. Argus reissued a “buy” rating and issued a $1,250.00 price target on shares of United Rentals in a research note on Tuesday, August 4th. Truist Financial raised their price target on shares of United Rentals from $1,421.00 to $1,466.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Finally, JPMorgan Chase & Co. lifted their price target on shares of United Rentals from $1,100.00 to $1,235.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,246.19.

United Rentals Company Profile

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.