Cibc World Market Inc. Sells 3,326 Shares of United Rentals, Inc. $URI

Key Points

• Cibc World Market Inc. cut its stake in United Rentals by 25.1% in the fourth quarter, selling 3,326 shares and leaving it with 9,923 shares worth about $8.03 million.
• United Rentals executives have also been selling stock recently: CEO Matthew John Flannery and EVP Craig Adam Pintoff both made sizable sales, and insiders have sold $25.6 million worth of shares over the past 90 days.
• The company reported mixed quarterly results, with EPS and revenue both missing analyst expectations, even as revenue rose 7.2% year over year; analysts still broadly remain positive, with a consensus rating of “Moderate Buy” and an average price target of $1,013.63.

Cibc World Market Inc. reduced its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 25.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,923 shares of the construction company's stock after selling 3,326 shares during the period. Cibc World Market Inc.'s holdings in United Rentals were worth $8,031,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Aventura Private Wealth LLC bought a new position in United Rentals during the 4th quarter valued at about $27,000. Core Wealth Advisors LLC bought a new position in United Rentals during the 4th quarter valued at about $28,000. Abich Financial Wealth Management LLC bought a new position in United Rentals during the 3rd quarter valued at about $29,000. Board of the Pension Protection Fund bought a new position in United Rentals during the 4th quarter valued at about $32,000. Finally, Laurel Wealth Advisors LLC bought a new position in United Rentals during the 4th quarter valued at about $32,000. 96.26% of the stock is owned by institutional investors.

Insider Buying and Selling at United Rentals

In other news, EVP Craig Adam Pintoff sold 2,466 shares of United Rentals stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the completion of the sale, the executive vice president owned 14,774 shares in the company, valued at $14,227,362. The trade was a 14.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew John Flannery sold 22,768 shares of United Rentals stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $984.98, for a total transaction of $22,426,024.64. Following the sale, the chief executive officer owned 99,980 shares of the company's stock, valued at approximately $98,478,300.40. This represents a 18.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 26,088 shares of company stock worth $25,628,877 in the last 90 days. Corporate insiders own 0.47% of the company's stock.

United Rentals Trading Down 1.6%

Shares of NYSE URI opened at $1,067.62 on Friday. United Rentals, Inc. has a 1-year low of $682.08 and a 1-year high of $1,091.23. The company has a market cap of $66.89 billion, a PE ratio of 27.24, a P/E/G ratio of 1.70 and a beta of 1.81. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37. The company has a 50-day moving average of $885.82 and a two-hundred day moving average of $852.39.

United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing the consensus estimate of $11.47 by ($1.76). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.20 billion. During the same quarter in the prior year, the firm earned $8.86 EPS. The firm's quarterly revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts expect that United Rentals, Inc. will post 47.07 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. KeyCorp boosted their target price on shares of United Rentals from $950.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Friday, April 24th. Barclays boosted their target price on shares of United Rentals from $600.00 to $715.00 and gave the stock an "underweight" rating in a research note on Friday, April 24th. Citigroup boosted their target price on shares of United Rentals from $950.00 to $1,130.00 and gave the stock a "buy" rating in a research note on Friday, April 24th. Morgan Stanley reaffirmed an "overweight" rating and issued a $1,030.00 target price on shares of United Rentals in a research note on Friday, April 24th. Finally, Truist Financial set a $1,209.00 target price on shares of United Rentals in a research note on Friday, April 24th. Twelve investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, United Rentals has an average rating of "Moderate Buy" and an average price target of $1,013.63.

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.

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