United Rentals, Inc. $URI Shares Acquired by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

Key Points

• British Columbia Investment Management Corp has increased its stake in United Rentals by 58.2%, owning approximately 0.20% of the company worth $80.75 million as of the latest quarter.
• United Rentals reported earnings of $10.47 per share for the last quarter, missing analysts' expectations by $0.07, although its revenue was slightly above estimates at $3.94 billion.
• The company announced a quarterly dividend of $1.79 per share, representing an annualized dividend yield of 0.8%, with a payout ratio of 18.52%.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 58.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 128,850 shares of the construction company's stock after buying an additional 47,396 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.20% of United Rentals worth $80,750,000 at the end of the most recent quarter.

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

United Rentals Trading Up 4.5%

Shares of United Rentals stock opened at $929.7890 on Friday. The firm has a 50-day simple moving average of $821.49 and a two-hundred day simple moving average of $713.79. The company has a market cap of $59.82 billion, a P/E ratio of 24.04, a price-to-earnings-growth ratio of 2.06 and a beta of 1.72. United Rentals, Inc. has a fifty-two week low of $525.91 and a fifty-two week high of $937.45. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.80 and a current ratio of 0.86.

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 analysts' consensus estimates of $10.54 by ($0.07). The business had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.90 billion. United Rentals had a return on equity of 32.01% and a net margin of 16.11%.The business's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company posted $10.70 EPS. United Rentals has set its FY 2025 guidance at EPS. As a group, equities analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders 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 is presently 18.52%.

Analyst Ratings Changes

Several analysts have commented on the stock. The Goldman Sachs Group lifted their price objective on shares of United Rentals from $770.00 to $850.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Cfra Research upgraded shares of United Rentals to a "strong-buy" rating in a research report on Friday, April 25th. Argus set a $935.00 target price on shares of United Rentals in a research report on Tuesday, August 12th. Redburn Atlantic cut United Rentals from a "buy" rating to a "neutral" rating and set a $760.00 price objective for the company. in a report on Friday, June 13th. Finally, Barclays boosted their price objective on United Rentals from $565.00 to $620.00 and gave the company an "underweight" rating in a report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $834.64.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.