United Rentals, Inc. (NYSE:URI) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lessened its stake in shares of United Rentals, Inc. (NYSE:URI) by 88.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,512 shares of the construction company’s stock after selling 93,279 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in United Rentals were worth $8,383,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Allstate Corp purchased a new position in United Rentals during the 4th quarter worth $1,377,000. Brown Brothers Harriman & Co. increased its stake in shares of United Rentals by 92.9% during the fourth quarter. Brown Brothers Harriman & Co. now owns 81 shares of the construction company’s stock worth $57,000 after acquiring an additional 39 shares during the period. Alerus Financial NA purchased a new position in United Rentals during the fourth quarter worth about $2,685,000. Premier Fund Managers Ltd boosted its holdings in United Rentals by 10.2% in the 4th quarter. Premier Fund Managers Ltd now owns 26,840 shares of the construction company’s stock valued at $18,935,000 after purchasing an additional 2,490 shares in the last quarter. Finally, Orion Portfolio Solutions LLC boosted its holdings in United Rentals by 1.9% in the 4th quarter. Orion Portfolio Solutions LLC now owns 4,952 shares of the construction company’s stock valued at $3,488,000 after purchasing an additional 92 shares in the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on URI. JPMorgan Chase & Co. raised their price target on United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Robert W. Baird raised United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 target price for the company in a report on Tuesday, January 14th. Bank of America lowered their price target on shares of United Rentals from $850.00 to $750.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Morgan Stanley cut their price target on shares of United Rentals from $775.00 to $765.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Finally, Evercore ISI decreased their price objective on shares of United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $804.15.

United Rentals Trading Up 0.7 %

Shares of United Rentals stock opened at $631.17 on Wednesday. United Rentals, Inc. has a 1 year low of $585.27 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. The business has a 50 day moving average price of $680.92 and a 200 day moving average price of $753.98. The company has a market capitalization of $41.24 billion, a P/E ratio of 16.29, a P/E/G ratio of 1.43 and a beta of 1.76.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, January 29th. The construction company reported $11.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. Sell-side analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date was Wednesday, February 12th. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s payout ratio is currently 18.48%.

Insider Activity at United Rentals

In other United Rentals news, CFO William E. Grace sold 1,100 shares of United Rentals stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $638.10, for a total value of $701,910.00. Following the completion of the sale, the chief financial officer now directly owns 6,880 shares of the company’s stock, valued at approximately $4,390,128. The trade was a 13.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.