90,778 Shares in United Rentals, Inc. $URI Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board bought a new stake in shares of United Rentals, Inc. (NYSE:URI) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 90,778 shares of the construction company’s stock, valued at approximately $102,841,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in URI. BlackRock Inc. bought a new position in United Rentals in the second quarter worth approximately $5,816,326,000. Capital World Investors grew its position 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 acquiring an additional 30,263 shares during the period. Franklin Resources Inc. grew its position 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 during the period. Norges Bank purchased a new stake in shares of United Rentals in the 4th quarter worth $978,017,000. Finally, Bank of America Corp DE increased its stake in shares of United Rentals by 14.7% in the 1st quarter. Bank of America Corp DE now owns 806,380 shares of the construction company’s stock worth $587,496,000 after purchasing an additional 103,371 shares in the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Stock Performance

Shares of NYSE URI opened at $1,058.50 on Thursday. The company has a market cap of $65.88 billion, a P/E ratio of 25.42, a P/E/G ratio of 1.36 and a beta of 1.80. United Rentals, Inc. has a 52-week low of $701.59 and a 52-week high of $1,179.18. 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’s fifty day moving average is $1,099.04 and its two-hundred day moving average is $955.68.

United Rentals (NYSE:URI) last released its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, beating the consensus estimate of $11.53 by $1.23. The business 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 business’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.47 EPS. As a group, analysts anticipate that United Rentals, Inc. will post 48.55 EPS for the current fiscal year.

United Rentals Dividend Announcement

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

Wall Street Analysts Forecast Growth

URI has been the topic of a number of recent research reports. Argus reaffirmed a “buy” rating and issued a $1,250.00 target price on shares of United Rentals in a report on Tuesday, August 4th. Barclays upped their price target on United Rentals from $715.00 to $950.00 and gave the stock an “underweight” rating in a research report on Friday, July 24th. Citigroup raised their price objective on United Rentals from $1,270.00 to $1,330.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. UBS Group lifted their price objective on United Rentals from $1,300.00 to $1,350.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Finally, Robert W. Baird set a $1,300.00 price objective on United Rentals in a research note on Friday, July 24th. One equities 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,246.19.

Insider Buying and Selling

In other United Rentals news, EVP William E. Grace sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The stock was 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 in the company, valued at $6,869,155.30. This trade represents a 19.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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.