iA Global Asset Management Inc. Sells 15,871 Shares of United Rentals, Inc. (NYSE:URI)

iA Global Asset Management Inc. lessened its stake in United Rentals, Inc. (NYSE:URI - Free Report) by 60.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,398 shares of the construction company's stock after selling 15,871 shares during the quarter. iA Global Asset Management Inc.'s holdings in United Rentals were worth $6,516,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Fourth Dimension Wealth LLC acquired a new position in United Rentals in the first quarter valued at about $26,000. TruNorth Capital Management LLC grew its stake in United Rentals by 1,266.7% in the first quarter. TruNorth Capital Management LLC now owns 41 shares of the construction company's stock valued at $26,000 after acquiring an additional 38 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its stake in United Rentals by 69.0% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 49 shares of the construction company's stock valued at $31,000 after acquiring an additional 20 shares during the period. Grove Bank & Trust acquired a new position in United Rentals in the first quarter valued at about $36,000. Finally, NBC Securities Inc. acquired a new position in United Rentals in the first quarter valued at about $40,000. Institutional investors own 96.26% of the company's stock.

United Rentals Stock Performance

URI opened at $868.01 on Wednesday. United Rentals, Inc. has a 52-week low of $525.91 and a 52-week high of $903.60. The firm has a market capitalization of $55.85 billion, a PE ratio of 22.45, a PEG ratio of 2.01 and a beta of 1.72. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.80 and a current ratio of 0.86. The business's 50-day simple moving average is $771.56 and its 200 day simple moving average is $701.80.

United Rentals (NYSE:URI - Get Free Report) last released its earnings results on Wednesday, July 23rd. The construction company reported $10.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.54 by ($0.07). United Rentals had a return on equity of 32.01% and a net margin of 16.11%. The company had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter in the previous year, the company posted $10.70 EPS. The business's revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts expect that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th will be issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, August 13th. United Rentals's dividend payout ratio is presently 18.52%.

Analyst Ratings Changes

A number of research analysts have issued reports on URI shares. KeyCorp boosted their target price on United Rentals from $865.00 to $960.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Morgan Stanley boosted their target price on United Rentals from $702.00 to $955.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. JPMorgan Chase & Co. boosted their target price on United Rentals from $920.00 to $950.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Truist Financial boosted their price target on United Rentals from $786.00 to $952.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, Bank of America boosted their price target on United Rentals from $895.00 to $900.00 and gave the company a "buy" rating in a report on Thursday, July 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, United Rentals has a consensus rating of "Moderate Buy" and an average target price of $830.71.

Insider Transactions at United Rentals

In other United Rentals news, VP Andrew B. Limoges sold 708 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $705.86, for a total value of $499,748.88. Following the sale, the vice president owned 1,921 shares in the company, valued at $1,355,957.06. This represents a 26.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.51% of the company's stock.

About United Rentals

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.

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