United Rentals, Inc. (NYSE:URI) Shares Sold by Ontario Teachers Pension Plan Board

Key Points

• Ontario Teachers Pension Plan Board has reduced its stake in United Rentals, Inc. by 27.6%, selling 794 shares and holding a total of 2,079 shares valued at approximately $1.3 million after the sale.
• Multiple institutional investors have shown interest in United Rentals, with over 96% of the stock currently owned by institutions, including a significant stake increase by TruNorth Capital Management of 1,266.7%.
• Analysts have varying ratings and target prices for United Rentals, with an average rating of "Moderate Buy" and a price target of around $830.71, reflecting mixed opinions on the stock's performance.

Ontario Teachers Pension Plan Board cut its position in United Rentals, Inc. (NYSE:URI - Free Report) by 27.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,079 shares of the construction company's stock after selling 794 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in United Rentals were worth $1,303,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Elevation Point Wealth Partners LLC lifted its position in United Rentals by 32.9% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 2,220 shares of the construction company's stock worth $1,391,000 after acquiring an additional 550 shares during the period. Dynamic Advisor Solutions LLC purchased a new stake in shares of United Rentals during the first quarter worth approximately $602,000. Wealth Enhancement Advisory Services LLC grew its position in United Rentals by 12.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,160 shares of the construction company's stock valued at $4,488,000 after buying an additional 789 shares during the last quarter. Farther Finance Advisors LLC grew its position in United Rentals by 101.6% in the 1st quarter. Farther Finance Advisors LLC now owns 859 shares of the construction company's stock valued at $543,000 after buying an additional 433 shares during the last quarter. Finally, Brookwood Investment Group LLC acquired a new position in United Rentals in the 1st quarter valued at $2,966,000. Hedge funds and other institutional investors own 96.26% of the company's stock.

Wall Street Analyst Weigh In

URI has been the subject of several recent analyst reports. Bank of America raised their target price on shares of United Rentals from $895.00 to $900.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. UBS Group raised their price objective on shares of United Rentals from $780.00 to $835.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Morgan Stanley boosted their target price on United Rentals from $702.00 to $955.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. KeyCorp raised their price target on United Rentals from $865.00 to $960.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Finally, Citigroup reaffirmed a "buy" rating and set a $810.00 price objective (up previously from $740.00) on shares of United Rentals in a report on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, United Rentals currently has an average rating of "Moderate Buy" and an average target price of $830.71.

United Rentals Price Performance

Shares of URI stock traded up $4.38 during trading hours on Friday, hitting $858.99. The company's stock had a trading volume of 273,017 shares, compared to its average volume of 649,962. 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 business has a fifty day moving average of $780.39 and a 200-day moving average of $702.84. United Rentals, Inc. has a twelve month low of $525.91 and a twelve month high of $903.60. The stock has a market cap of $55.27 billion, a price-to-earnings ratio of 22.21, a P/E/G ratio of 1.98 and a beta of 1.72.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The construction company reported $10.47 earnings per share 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 analysts' expectations of $3.90 billion. During the same period in the previous year, the business posted $10.70 EPS. The business's quarterly revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th will be paid a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, August 13th. United Rentals's dividend payout ratio (DPR) is currently 18.52%.

Insider Activity

In other news, VP Andrew B. Limoges sold 708 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $705.86, for a total value of $499,748.88. Following the completion of the transaction, the vice president owned 1,921 shares of the company's stock, valued at $1,355,957.06. The trade was a 26.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.51% of the stock is owned by corporate insiders.

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.