National Bank of Canada FI Has $15.09 Million Stake in United Rentals, Inc. (NYSE:URI)

National Bank of Canada FI increased its position in shares of United Rentals, Inc. (NYSE:URI) by 43.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,615 shares of the construction company’s stock after purchasing an additional 8,045 shares during the period. National Bank of Canada FI’s holdings in United Rentals were worth $15,087,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new stake in shares of United Rentals during the third quarter worth $25,000. AdvisorNet Financial Inc grew its position in shares of United Rentals by 71.4% during the 4th quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock worth $28,000 after purchasing an additional 20 shares in the last quarter. NBC Securities Inc. bought a new position in shares of United Rentals during the third quarter worth approximately $29,000. Larson Financial Group LLC increased its holdings in shares of United Rentals by 1,525.0% during the fourth quarter. Larson Financial Group LLC now owns 65 shares of the construction company’s stock worth $37,000 after purchasing an additional 61 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of United Rentals in the third quarter valued at approximately $40,000. 96.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Truist Financial increased their price target on United Rentals from $793.00 to $796.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Stifel Nicolaus boosted their price target on United Rentals from $720.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Evercore ISI increased their price objective on shares of United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. The Goldman Sachs Group boosted their target price on shares of United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Wells Fargo & Company increased their price target on shares of United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $600.79.

United Rentals Stock Performance

Shares of United Rentals stock opened at $674.88 on Wednesday. The company’s 50 day moving average price is $683.58 and its two-hundred day moving average price is $592.43. The firm has a market capitalization of $44.94 billion, a P/E ratio of 18.28, a P/E/G ratio of 2.17 and a beta of 1.82. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.89 and a quick ratio of 0.83. United Rentals, Inc. has a fifty-two week low of $325.91 and a fifty-two week high of $732.37.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, beating the consensus estimate of $8.35 by $0.80. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.44 billion. During the same quarter last year, the business posted $7.95 EPS. United Rentals’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities analysts forecast that United Rentals, Inc. will post 43.61 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Tuesday, May 7th. United Rentals’s dividend payout ratio (DPR) is currently 17.66%.

United Rentals announced that its Board of Directors has approved a stock buyback plan on Wednesday, January 24th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 3.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, COO Michael D. Durand sold 559 shares of United Rentals stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $674.56, for a total transaction of $377,079.04. Following the sale, the chief operating officer now directly owns 8,052 shares in the company, valued at approximately $5,431,557.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, COO Michael D. Durand sold 559 shares of the 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 completion of the sale, the chief operating officer now directly owns 8,052 shares in the company, valued at $5,431,557.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $5,862,199.77. Following the transaction, the chief executive officer now directly owns 103,400 shares of the company’s stock, valued at $72,341,742. The disclosure for this sale can be found here. Insiders sold 9,713 shares of company stock valued at $6,747,384 over the last quarter. 0.49% of the stock is owned by company insiders.

United Rentals Company Profile

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.