Healthcare of Ontario Pension Plan Trust Fund Acquires 67,443 Shares of United Rentals, Inc. $URI

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in United Rentals, Inc. (NYSE:URI - Free Report) by 2,681.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,958 shares of the construction company's stock after purchasing an additional 67,443 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.11% of United Rentals worth $50,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Woodline Partners LP lifted its stake in United Rentals by 40.0% in the first quarter. Woodline Partners LP now owns 5,518 shares of the construction company's stock valued at $3,458,000 after buying an additional 1,577 shares during the period. Sei Investments Co. boosted its holdings in shares of United Rentals by 24.7% during the 2nd quarter. Sei Investments Co. now owns 27,136 shares of the construction company's stock worth $20,444,000 after buying an additional 5,375 shares in the last quarter. Treasurer of the State of North Carolina grew its position in shares of United Rentals by 43.6% during the 2nd quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company's stock worth $42,233,000 after buying an additional 17,030 shares during the period. HUB Investment Partners LLC grew its position in shares of United Rentals by 11.3% during the 2nd quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company's stock worth $1,661,000 after buying an additional 223 shares during the period. Finally, Diversify Advisory Services LLC increased its stake in shares of United Rentals by 338.7% in the 2nd quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company's stock valued at $1,246,000 after acquiring an additional 1,277 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company's stock.

United Rentals News Roundup

Here are the key news stories impacting United Rentals this week:

• Positive Sentiment: JPMorgan raised its price target on United Rentals to $1,235 and kept an overweight rating, signaling confidence in continued upside. JPMorgan price target increase
• Positive Sentiment: Truist boosted its target to $1,466 and maintained a buy rating, reflecting a more optimistic view of URI’s earnings power and demand trends. Truist price target increase
• Positive Sentiment: Citigroup raised its target to $1,330 with a buy rating after the company’s strong Q2 results and improved guidance. Citigroup price target increase
• Positive Sentiment: Bank of America increased its target to $1,300 and reiterated a buy rating, adding to the positive analyst momentum around the stock. Bank of America price target increase
• Positive Sentiment: United Rentals reported Q2 earnings of $12.76 per share and revenue of $4.41 billion, both ahead of expectations, and raised full-year guidance on stronger rental growth and demand. Q2 earnings beat and guidance raise
• Neutral Sentiment: The company also declared a quarterly dividend of $1.97 per share, which is a modest shareholder-return update but not likely the main driver of today’s trading. Dividend announcement

United Rentals Stock Up 0.0%

URI opened at $1,140.19 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.74. The company's 50-day moving average is $1,052.87 and its 200 day moving average is $919.10. United Rentals, Inc. has a fifty-two week low of $701.59 and a fifty-two week high of $1,177.67. The firm has a market capitalization of $70.97 billion, a P/E ratio of 27.38, a PEG ratio of 1.82 and a beta of 1.79.

United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $11.53 by $1.23. The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The firm's quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $10.47 EPS. Research analysts expect that United Rentals, Inc. will post 47.32 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be paid a $1.97 dividend. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, August 12th. United Rentals's payout ratio is presently 18.92%.

Analysts Set New Price Targets

A number of research firms recently issued reports on URI. Bank of America boosted their target price on shares of United Rentals from $1,195.00 to $1,300.00 and gave the company a "buy" rating in a research report on Thursday. Raymond James Financial restated an "outperform" rating and issued a $1,275.00 price target on shares of United Rentals in a report on Wednesday, June 10th. Wall Street Zen raised shares of United Rentals from a "hold" rating to a "buy" rating in a research note on Saturday. Citigroup upped their price objective on shares of United Rentals from $1,270.00 to $1,330.00 and gave the company a "buy" rating in a report on Friday. Finally, Truist Financial raised their target price on United Rentals from $1,421.00 to $1,466.00 and gave the company a "buy" rating in a research note on Friday. Fifteen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,226.50.

Insider Activity at United Rentals

In related news, EVP Craig Adam Pintoff sold 2,466 shares of United Rentals stock in a transaction on Monday, April 27th. The stock was sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the sale, the executive vice president directly owned 14,774 shares in the company, valued at approximately $14,227,362. This trade represents a 14.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Joli L. Gross sold 306 shares of the business's stock in a transaction on Monday, April 27th. The stock was sold at an average price of $954.99, for a total value of $292,226.94. Following the completion of the transaction, the senior vice president directly owned 5,738 shares in the company, valued at approximately $5,479,732.62. This represents a 5.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.47% of the company's stock.

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.

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