United Rentals, Inc. (NYSE:URI) Shares Purchased by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co lifted its holdings in United Rentals, Inc. (NYSE:URI) by 6.6% in the first quarter, Holdings Channel reports. The firm owned 72,165 shares of the construction company’s stock after buying an additional 4,493 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in United Rentals were worth $52,016,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in URI. Advisor Resource Council acquired a new stake in shares of United Rentals in the 4th quarter worth $331,000. Premier Path Wealth Partners LLC acquired a new stake in shares of United Rentals in the 4th quarter worth $393,000. HB Wealth Management LLC boosted its position in shares of United Rentals by 1.3% in the 4th quarter. HB Wealth Management LLC now owns 2,487 shares of the construction company’s stock worth $1,426,000 after purchasing an additional 32 shares in the last quarter. Oak Ridge Investments LLC lifted its position in United Rentals by 0.3% during the 4th quarter. Oak Ridge Investments LLC now owns 5,816 shares of the construction company’s stock worth $3,335,000 after acquiring an additional 20 shares during the period. Finally, Tectonic Advisors LLC lifted its position in United Rentals by 1.9% during the 4th quarter. Tectonic Advisors LLC now owns 1,425 shares of the construction company’s stock worth $817,000 after acquiring an additional 26 shares during the period. Institutional investors and hedge funds own 96.26% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on URI shares. Oppenheimer reaffirmed a “market perform” rating on shares of United Rentals in a research report on Monday, April 29th. Truist Financial lowered their price target on United Rentals from $796.00 to $785.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. Raymond James initiated coverage on United Rentals in a research report on Friday, June 28th. They set an “outperform” rating and a $750.00 price target for the company. Stifel Nicolaus lifted their price objective on United Rentals from $720.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, JPMorgan Chase & Co. initiated coverage on United Rentals in a research note on Friday, June 7th. They set an “overweight” rating and a $780.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, United Rentals presently has an average rating of “Hold” and a consensus price target of $637.67.

United Rentals Price Performance

Shares of United Rentals stock traded down $28.05 during mid-day trading on Wednesday, reaching $715.89. 1,212,390 shares of the stock traded hands, compared to its average volume of 579,592. The business has a 50-day moving average of $662.04 and a 200 day moving average of $659.91. United Rentals, Inc. has a fifty-two week low of $387.01 and a fifty-two week high of $759.98. The stock has a market capitalization of $47.67 billion, a PE ratio of 19.39, a PEG ratio of 2.42 and a beta of 1.71. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 1.39.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, April 24th. The construction company reported $9.15 EPS for the quarter, beating analysts’ consensus estimates of $8.35 by $0.80. The business had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.44 billion. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $7.95 earnings per share. On average, analysts predict that United Rentals, Inc. will post 43.89 EPS for the current year.

United Rentals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.91%. United Rentals’s payout ratio is 17.66%.

Insider Buying and Selling

In related news, CEO Matthew John Flannery sold 8,379 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total value of $5,862,199.77. Following the completion of the transaction, the chief executive officer now directly owns 103,400 shares in the company, valued at $72,341,742. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Matthew John Flannery sold 8,379 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total transaction of $5,862,199.77. Following the completion of the transaction, the chief executive officer now directly owns 103,400 shares in the company, valued at $72,341,742. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Michael D. Durand sold 559 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $674.56, for a total value of $377,079.04. Following the transaction, the chief operating officer now owns 8,052 shares of the company’s stock, valued at $5,431,557.12. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

About United Rentals

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.