19,600 Shares in United Rentals, Inc. $URI Purchased by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp opened a new position in United Rentals in the fourth quarter, buying 19,600 shares valued at about $15.9 million.
• Institutional ownership in URI remains very high, with hedge funds and other institutions holding 96.26% of the company’s stock. Several large investors also increased their stakes recently.
• Wall Street remains generally positive on United Rentals, with a Moderate Buy consensus and an average price target of $1,045.81, even though the latest quarterly results missed earnings and revenue estimates.

Alberta Investment Management Corp bought a new stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 19,600 shares of the construction company's stock, valued at approximately $15,863,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Capital International Investors lifted its position in United Rentals by 22.8% during the third quarter. Capital International Investors now owns 3,402,524 shares of the construction company's stock valued at $3,247,762,000 after buying an additional 631,484 shares during the period. Capital World Investors grew its position in shares of United Rentals by 1.1% in the 4th quarter. Capital World Investors now owns 2,708,877 shares of the construction company's stock worth $2,192,357,000 after buying an additional 30,263 shares during the period. Franklin Resources Inc. grew its position in shares of United Rentals by 2.2% in the 4th quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company's stock worth $1,087,711,000 after buying an additional 28,895 shares during the period. Norges Bank bought a new position in shares of United Rentals in the 4th quarter worth about $978,017,000. Finally, Alliancebernstein L.P. increased its stake in shares of United Rentals by 5.6% in the 3rd quarter. Alliancebernstein L.P. now owns 1,088,209 shares of the construction company's stock worth $1,038,870,000 after acquiring an additional 57,977 shares in the last quarter. Hedge funds and other institutional investors own 96.26% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on URI. Barclays upped their price objective on shares of United Rentals from $600.00 to $715.00 and gave the stock an "underweight" rating in a report on Friday, April 24th. KeyCorp boosted their price target on United Rentals from $950.00 to $1,150.00 and gave the stock an "overweight" rating in a research report on Friday, April 24th. Robert W. Baird upped their price target on United Rentals from $970.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Friday, April 24th. Royal Bank Of Canada raised their price objective on United Rentals from $1,041.00 to $1,119.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Finally, UBS Group lifted their price objective on United Rentals from $1,025.00 to $1,145.00 and gave the company a "buy" rating in a research note on Wednesday, June 3rd. Thirteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,045.81.

United Rentals Stock Performance

Shares of URI stock opened at $1,077.68 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.37. The company has a 50 day moving average price of $947.43 and a 200-day moving average price of $869.81. United Rentals, Inc. has a 52 week low of $693.78 and a 52 week high of $1,106.88. The firm has a market capitalization of $67.52 billion, a PE ratio of 27.49, a P/E/G ratio of 1.66 and a beta of 1.81.

United Rentals (NYSE:URI - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing analysts' consensus estimates of $11.47 by ($1.76). United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The company had revenue of $3.98 billion for the quarter, compared to analysts' expectations of $4.20 billion. During the same quarter in the prior year, the firm posted $8.86 earnings per share. United Rentals's quarterly revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts expect that United Rentals, Inc. will post 47.26 earnings per share for the current year.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were given a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a yield of 0.7%. The ex-dividend date was Wednesday, May 13th. United Rentals's payout ratio is 20.10%.

Insider Buying and Selling at United Rentals

In other news, VP Andrew B. Limoges sold 548 shares of the business's stock in a transaction on Friday, April 24th. The shares were sold at an average price of $977.86, for a total transaction of $535,867.28. Following the completion of the sale, the vice president owned 1,865 shares of the company's stock, valued at $1,823,708.90. The trade was a 22.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Craig Adam Pintoff sold 2,466 shares of the firm's stock in a transaction on Monday, April 27th. The stock was sold at an average price of $963.00, for a total value of $2,374,758.00. Following the completion of the transaction, the executive vice president directly owned 14,774 shares in the company, valued at approximately $14,227,362. This represents a 14.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 26,088 shares of company stock valued at $25,628,877 in the last ninety days. Corporate insiders own 0.47% of the company's stock.

United Rentals 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.

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