United Rentals, Inc. (NYSE:URI) Shares Acquired by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its stake in United Rentals, Inc. by 2.0%, owning 29,768 shares valued at approximately $18.66 million.
• United Rentals reported $10.47 earnings per share for the most recent quarter, slightly missing analysts' estimates, while its revenue was $3.94 billion, exceeding expectations.
• The company has announced a quarterly dividend of $1.79 per share, resulting in an annual yield of 0.81% with a payout ratio of 18.52%.

Mackenzie Financial Corp grew its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,768 shares of the construction company's stock after purchasing an additional 586 shares during the quarter. Mackenzie Financial Corp's holdings in United Rentals were worth $18,656,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in shares of United Rentals by 77,674.5% during the 1st quarter. GAMMA Investing LLC now owns 887,407 shares of the construction company's stock valued at $556,138,000 after buying an additional 886,266 shares in the last quarter. Leigh Baldwin & CO. LLC purchased a new position in shares of United Rentals during the fourth quarter valued at approximately $330,989,000. Capital World Investors boosted its position in shares of United Rentals by 17.1% during the fourth quarter. Capital World Investors now owns 2,221,228 shares of the construction company's stock valued at $1,564,722,000 after purchasing an additional 323,636 shares in the last quarter. Capital International Investors boosted its position in shares of United Rentals by 41.0% during the fourth quarter. Capital International Investors now owns 1,051,365 shares of the construction company's stock valued at $740,624,000 after purchasing an additional 305,491 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in United Rentals by 105.6% in the fourth quarter. Marshall Wace LLP now owns 546,165 shares of the construction company's stock worth $384,740,000 after acquiring an additional 280,502 shares in the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

URI has been the subject of a number of research reports. Robert W. Baird upped their price objective on United Rentals from $535.00 to $571.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. The Goldman Sachs Group raised their price target on United Rentals from $770.00 to $850.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Citigroup restated a "buy" rating and set a $810.00 price objective (up from $740.00) on shares of United Rentals in a report on Tuesday, June 24th. Truist Financial lifted 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 target price on United Rentals from $895.00 to $900.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $830.71.

United Rentals Price Performance

NYSE:URI traded up $2.57 during trading hours on Thursday, hitting $882.99. 450,849 shares of the stock were exchanged, compared to its average volume of 651,595. The company has a current ratio of 0.86, a quick ratio of 0.80 and a debt-to-equity ratio of 1.34. The firm's fifty day moving average price is $761.99 and its 200 day moving average price is $699.75. The company has a market cap of $56.81 billion, a P/E ratio of 22.83, a P/E/G ratio of 2.03 and a beta of 1.69. United Rentals, Inc. has a 52-week low of $525.91 and a 52-week high of $903.60.

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

United Rentals Dividend Announcement

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

Insider Buying and Selling

In other United Rentals news, VP Andrew B. Limoges sold 708 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $705.86, for a total transaction of $499,748.88. Following the transaction, the vice president directly 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.53% of the company's stock.

United Rentals Company Profile

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.