iA Global Asset Management Inc. Has $19.24 Million Holdings in United Rentals, Inc. $URI

iA Global Asset Management Inc. increased its position in shares of United Rentals, Inc. (NYSE:URI) by 4.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,156 shares of the construction company’s stock after purchasing an additional 857 shares during the quarter. iA Global Asset Management Inc.’s holdings in United Rentals were worth $19,242,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of URI. Loomis Sayles & Co. L P bought a new stake in shares of United Rentals during the 2nd quarter worth approximately $28,000. Salomon & Ludwin LLC raised its position in United Rentals by 650.0% during the third quarter. Salomon & Ludwin LLC now owns 30 shares of the construction company’s stock valued at $29,000 after purchasing an additional 26 shares in the last quarter. Maseco LLP bought a new stake in United Rentals during the second quarter worth $32,000. Cedar Mountain Advisors LLC acquired a new stake in shares of United Rentals in the 3rd quarter valued at $32,000. Finally, Trust Co. of Toledo NA OH bought a new position in shares of United Rentals in the 2nd quarter valued at $38,000. 96.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Truist Financial dropped their price objective on United Rentals from $1,169.00 to $1,045.00 and set a “buy” rating for the company in a research report on Thursday, December 18th. Robert W. Baird raised United Rentals from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $888.00 to $1,050.00 in a research note on Wednesday, October 1st. Citigroup raised their price target on shares of United Rentals from $950.00 to $1,090.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Wells Fargo & Company began coverage on shares of United Rentals in a report on Thursday, November 13th. They set an “overweight” rating and a $995.00 price target on the stock. Finally, Barclays dropped their price objective on shares of United Rentals from $620.00 to $600.00 and set an “underweight” rating for the company in a research note on Monday, October 20th. Two research 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $966.29.

United Rentals Stock Up 1.8%

NYSE:URI opened at $956.88 on Friday. United Rentals, Inc. has a one year low of $525.91 and a one year high of $1,021.47. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.90 and a quick ratio of 0.84. The company has a market cap of $60.89 billion, a PE ratio of 24.61, a P/E/G ratio of 1.96 and a beta of 1.69. The firm’s 50 day simple moving average is $841.58 and its 200 day simple moving average is $884.65.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, October 22nd. The construction company reported $11.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.43 by ($0.73). United Rentals had a net margin of 15.83% and a return on equity of 31.30%. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.16 billion. During the same quarter last year, the company posted $11.80 earnings per share. The company’s revenue was up 5.9% compared to the same quarter last year. On average, research analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Company Profile

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.