Mackenzie Financial Corp Sells 2,268 Shares of United Rentals, Inc. (NYSE:URI)

Mackenzie Financial Corp lessened its stake in shares of United Rentals, Inc. (NYSE:URI) by 3.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,492 shares of the construction company’s stock after selling 2,268 shares during the quarter. Mackenzie Financial Corp owned about 0.09% of United Rentals worth $37,829,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Duncker Streett & Co. Inc. grew its stake in United Rentals by 0.3% during the second quarter. Duncker Streett & Co. Inc. now owns 5,352 shares of the construction company’s stock valued at $3,461,000 after acquiring an additional 14 shares in the last quarter. Ameritas Advisory Services LLC grew its position in shares of United Rentals by 3.8% during the 2nd quarter. Ameritas Advisory Services LLC now owns 378 shares of the construction company’s stock valued at $244,000 after purchasing an additional 14 shares in the last quarter. Concurrent Investment Advisors LLC increased its holdings in shares of United Rentals by 3.7% in the first quarter. Concurrent Investment Advisors LLC now owns 418 shares of the construction company’s stock worth $301,000 after purchasing an additional 15 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in United Rentals by 4.7% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 357 shares of the construction company’s stock valued at $231,000 after buying an additional 16 shares during the period. Finally, U.S. Capital Wealth Advisors LLC grew its position in United Rentals by 0.4% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 3,841 shares of the construction company’s stock worth $2,484,000 after buying an additional 17 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors.

Insider Transactions at United Rentals

In related news, SVP Joli L. Gross sold 360 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $690.00, for a total transaction of $248,400.00. Following the transaction, the senior vice president now owns 4,090 shares in the company, valued at approximately $2,822,100. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.53% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Raymond James started 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. Evercore ISI lifted their target price on shares of United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. The Goldman Sachs Group increased their price target on shares of United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a report on Friday, July 26th. JPMorgan Chase & Co. lifted their price objective on shares of United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Finally, Truist Financial increased their target price on United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, United Rentals currently has an average rating of “Hold” and a consensus price target of $687.46.

United Rentals Trading Up 1.4 %

NYSE URI opened at $814.10 on Friday. The stock has a 50-day moving average of $730.26 and a 200-day moving average of $691.76. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39. United Rentals, Inc. has a 1-year low of $387.01 and a 1-year high of $826.24. The firm has a market cap of $54.21 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 1.86 and a beta of 1.68.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.48 by $0.22. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter last year, the business earned $9.88 earnings per share. The business’s revenue was up 6.2% on a year-over-year basis. As a group, sell-side analysts forecast that United Rentals, Inc. will post 44.39 EPS for the current year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.80%. The ex-dividend date was Wednesday, August 14th. United Rentals’s dividend payout ratio (DPR) is 17.66%.

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.