iA Global Asset Management Inc. Has $7.66 Million Stock Holdings in United Rentals, Inc. $URI

Key Points

• iA Global Asset Management cut its United Rentals stake by 61.7% in the first quarter, leaving it with 10,516 shares valued at about $7.66 million.
• Several other institutional investors also adjusted positions, while institutions and hedge funds still own 96.26% of United Rentals’ stock.
• United Rentals reported Q1 EPS of $9.71, missing estimates, though revenue rose 7.2% year over year; the company also paid a $1.97 quarterly dividend and analysts currently rate the stock a Moderate Buy with an average target of $1,106.44.

iA Global Asset Management Inc. trimmed its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 61.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,516 shares of the construction company's stock after selling 16,975 shares during the quarter. iA Global Asset Management Inc.'s holdings in United Rentals were worth $7,662,000 at the end of the most recent reporting period.

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

Insider Activity

In other United Rentals news, VP Andrew B. Limoges sold 548 shares of the business's stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $977.86, for a total transaction of $535,867.28. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Joli L. Gross sold 306 shares of the business's stock in a transaction that occurred 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 transaction, the senior vice president directly owned 5,738 shares in the company, valued at approximately $5,479,732.62. This trade represents a 5.06% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 26,088 shares of company stock worth $25,628,877. 0.47% of the stock is owned by insiders.

United Rentals Stock Down 1.7%

URI stock opened at $1,113.81 on Thursday. 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 business has a 50 day moving average price of $1,006.44 and a two-hundred day moving average price of $888.89. The company has a market cap of $69.78 billion, a price-to-earnings ratio of 28.41, a P/E/G ratio of 1.81 and a beta of 1.79. United Rentals, Inc. has a twelve month low of $701.59 and a twelve month high of $1,143.69.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $11.47 by ($1.76). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.20 billion. During the same quarter in the prior year, the company earned $8.86 EPS. The company's revenue for the quarter was up 7.2% on a year-over-year basis. Analysts anticipate that United Rentals, Inc. will post 46.76 EPS for the current fiscal year.

United Rentals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders 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 of this dividend was Wednesday, May 13th. United Rentals's dividend payout ratio is 20.10%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on URI shares. Sanford C. Bernstein set a $903.00 price objective on shares of United Rentals and gave the stock an "outperform" rating in a report on Thursday, April 9th. Bank of America increased their target price on United Rentals from $1,020.00 to $1,195.00 and gave the stock a "buy" rating in a report on Thursday, June 25th. Morgan Stanley reissued an "overweight" rating and issued a $1,030.00 price target on shares of United Rentals in a research note on Friday, April 24th. Barclays boosted their price target on United Rentals from $600.00 to $715.00 and gave the company an "underweight" rating in a report on Friday, April 24th. Finally, BNP Paribas Exane raised United Rentals from a "neutral" rating to an "outperform" rating and set a $1,320.00 price objective for the company in a research report on Monday. Fifteen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, United Rentals has an average rating of "Moderate Buy" and an average price target of $1,106.44.

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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