Ontario Teachers Pension Plan Board Buys Shares of 36,937 United Rentals, Inc. $URI

Ontario Teachers Pension Plan Board bought a new stake in United Rentals, Inc. (NYSE:URI) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 36,937 shares of the construction company’s stock, valued at approximately $41,846,000.

Several other institutional investors have also made changes to their positions in URI. BlackRock Inc. purchased a new position in United Rentals during the second quarter valued at approximately $5,816,326,000. Capital World Investors boosted its stake in shares of United Rentals by 1.1% during the 4th quarter. Capital World Investors now owns 2,708,877 shares of the construction company’s stock valued at $2,192,357,000 after buying an additional 30,263 shares during the period. Franklin Resources Inc. grew its holdings in shares of United Rentals by 2.2% during the 4th quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company’s stock valued at $1,087,711,000 after acquiring an additional 28,895 shares in the last quarter. Norges Bank acquired a new position in shares of United Rentals in the fourth quarter worth $978,017,000. Finally, Bank of America Corp DE raised its holdings in shares of United Rentals by 14.7% during the first quarter. Bank of America Corp DE now owns 806,380 shares of the construction company’s stock worth $587,496,000 after acquiring an additional 103,371 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Trading Down 4.1%

Shares of URI stock opened at $1,117.24 on Wednesday. United Rentals, Inc. has a 12 month low of $701.59 and a 12 month high of $1,179.18. The company has a market cap of $69.54 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 1.49 and a beta of 1.80. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38. The business’s 50 day moving average is $1,097.10 and its two-hundred day moving average is $943.95.

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

United Rentals Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have commented on URI shares. Morgan Stanley set a $1,335.00 target price on United Rentals and gave the company an “overweight” rating in a research note on Friday, July 24th. Bank of America boosted their price target on United Rentals from $1,195.00 to $1,300.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. KeyCorp reaffirmed an “overweight” rating and set a $1,350.00 price objective on shares of United Rentals in a research report on Friday, July 24th. Raymond James Financial reissued an “outperform” rating and issued a $1,275.00 target price on shares of United Rentals in a research report on Wednesday, June 10th. Finally, Citigroup raised their price target on shares of United Rentals from $1,270.00 to $1,330.00 and gave the company a “buy” rating in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,246.19.

Insider Activity

In other news, EVP William E. Grace sold 1,500 shares of the firm’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the sale, the executive vice president directly owned 6,062 shares of the company’s stock, valued at approximately $6,869,155.30. This trade represents a 19.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate 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.