Mackenzie Financial Corp Trims Stock Holdings in United Rentals, Inc. (NYSE:URI)

Mackenzie Financial Corp reduced its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 39.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,182 shares of the construction company's stock after selling 18,893 shares during the period. Mackenzie Financial Corp's holdings in United Rentals were worth $20,557,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Rialto Wealth Management LLC bought a new stake in shares of United Rentals in the fourth quarter valued at $25,000. Murphy & Mullick Capital Management Corp purchased a new stake in United Rentals in the 4th quarter worth about $27,000. Meeder Asset Management Inc. raised its stake in United Rentals by 241.7% in the 4th quarter. Meeder Asset Management Inc. now owns 41 shares of the construction company's stock valued at $29,000 after acquiring an additional 29 shares during the period. Hanson & Doremus Investment Management purchased a new stake in United Rentals during the fourth quarter valued at about $33,000. Finally, Kestra Investment Management LLC bought a new position in United Rentals during the fourth quarter worth about $34,000. Institutional investors own 96.26% of the company's stock.

Insider Activity

In other United Rentals news, EVP Michael D. Durand sold 1,100 shares of the stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $626.28, for a total transaction of $688,908.00. Following the completion of the sale, the executive vice president now owns 8,748 shares of the company's stock, valued at $5,478,697.44. This represents a 11.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Andrew B. Limoges sold 708 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $705.86, for a total transaction of $499,748.88. Following the transaction, the vice president now directly owns 1,921 shares of the company's stock, valued at approximately $1,355,957.06. This trade represents a 26.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company's stock.

United Rentals Price Performance

URI stock traded up $2.65 during midday trading on Thursday, reaching $714.79. The company had a trading volume of 355,342 shares, compared to its average volume of 601,025. The firm has a 50-day moving average price of $641.24 and a 200-day moving average price of $704.36. The company has a market capitalization of $46.46 billion, a P/E ratio of 18.45, a P/E/G ratio of 1.43 and a beta of 1.70. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year high of $896.98. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92.

United Rentals (NYSE:URI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The construction company reported $8.86 EPS for the quarter, missing the consensus estimate of $8.92 by ($0.06). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. The business had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.61 billion. During the same period last year, the business posted $9.15 earnings per share. The company's revenue was up 6.7% compared to the same quarter last year. On average, research analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were given a dividend of $1.79 per share. The ex-dividend date was Wednesday, May 14th. This represents a $7.16 annualized dividend and a yield of 1.00%. United Rentals's payout ratio is 18.54%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Morgan Stanley upgraded shares of United Rentals from an "equal weight" rating to an "overweight" rating and set a $702.00 price target on the stock in a research note on Wednesday, April 16th. Sanford C. Bernstein raised United Rentals from an "underperform" rating to a "market perform" rating and cut their price target for the stock from $705.00 to $666.00 in a report on Tuesday, March 25th. Bank of America decreased their price objective on United Rentals from $850.00 to $750.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Truist Financial increased their price objective on United Rentals from $732.00 to $786.00 and gave the stock a "buy" rating in a report on Friday, April 25th. Finally, Cfra Research raised United Rentals to a "strong-buy" rating in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $753.15.

United Rentals 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.