8,900 Shares in United Rentals, Inc. $URI Purchased by CIBC Bancorp USA Inc.

CIBC Bancorp USA Inc. acquired a new stake in shares of United Rentals, Inc. (NYSE:URI) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,900 shares of the construction company’s stock, valued at approximately $8,496,000.

A number of other institutional investors have also recently made changes to their positions in URI. Norges Bank bought a new stake in shares of United Rentals in the 2nd quarter worth $776,102,000. JPMorgan Chase & Co. boosted its position in shares of United Rentals by 71.3% during the second quarter. JPMorgan Chase & Co. now owns 1,874,127 shares of the construction company’s stock valued at $1,411,968,000 after buying an additional 780,322 shares during the last quarter. Capital International Investors increased its holdings in United Rentals by 22.8% in the 3rd quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock worth $3,247,762,000 after buying an additional 631,484 shares in the last quarter. Boston Partners increased its holdings in United Rentals by 74.5% in the 2nd quarter. Boston Partners now owns 715,250 shares of the construction company’s stock worth $542,526,000 after buying an additional 305,378 shares in the last quarter. Finally, TD Asset Management Inc raised its position in United Rentals by 66.5% in the 3rd quarter. TD Asset Management Inc now owns 484,450 shares of the construction company’s stock worth $462,485,000 after buying an additional 193,416 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. KeyCorp set a $950.00 target price on shares of United Rentals in a research note on Friday, January 30th. Royal Bank Of Canada dropped their price target on United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating on the stock in a research note on Friday, January 30th. Robert W. Baird set a $970.00 price objective on United Rentals in a report on Friday, January 30th. Wells Fargo & Company increased their target price on United Rentals from $995.00 to $1,071.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. Finally, Truist Financial set a $972.00 target price on United Rentals in a research report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, United Rentals presently has a consensus rating of “Moderate Buy” and an average price target of $925.59.

Insider Buying and Selling at United Rentals

In other news, EVP William E. Grace sold 1,498 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $790.89, for a total transaction of $1,184,753.22. Following the completion of the sale, the executive vice president directly owned 6,872 shares of the company’s stock, valued at approximately $5,434,996.08. The trade was a 17.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael D. Durand sold 2,490 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $791.14, for a total transaction of $1,969,938.60. Following the completion of the transaction, the executive vice president owned 7,458 shares in the company, valued at approximately $5,900,322.12. The trade was a 25.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.53% of the stock is currently owned by company insiders.

United Rentals Stock Down 1.3%

Shares of NYSE URI opened at $710.36 on Friday. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year high of $1,021.47. The firm has a 50-day simple moving average of $850.16 and a two-hundred day simple moving average of $873.61. The company has a market cap of $44.75 billion, a P/E ratio of 18.36, a PEG ratio of 1.16 and a beta of 1.66. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.94 and a quick ratio of 0.88.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, January 28th. The construction company reported $11.09 earnings per share for the quarter, missing the consensus estimate of $11.86 by ($0.77). United Rentals had a return on equity of 30.35% and a net margin of 15.49%.The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the company posted $11.59 earnings per share. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. Research analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th were paid a $1.97 dividend. The ex-dividend date was Wednesday, February 11th. This is a positive change from United Rentals’s previous quarterly dividend of $1.79. This represents a $7.88 dividend on an annualized basis and a yield of 1.1%. United Rentals’s payout ratio is 20.37%.

United Rentals declared that its Board of Directors has approved a share buyback program on Wednesday, January 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 8.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

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.