Old Port Advisors Makes New $239,000 Investment in United Rentals, Inc. (NYSE:URI)

Old Port Advisors bought a new position in United Rentals, Inc. (NYSE:URI) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 295 shares of the construction company’s stock, valued at approximately $239,000.

A number of other institutional investors have also recently made changes to their positions in URI. International Assets Investment Management LLC lifted its position in United Rentals by 82,462.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock valued at $1,300,962,000 after acquiring an additional 1,604,715 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of United Rentals by 4.5% during the second quarter. The Manufacturers Life Insurance Company now owns 637,188 shares of the construction company’s stock valued at $412,089,000 after buying an additional 27,708 shares during the last quarter. Capital International Investors bought a new stake in United Rentals in the 1st quarter worth about $332,349,000. AMF Tjanstepension AB lifted its stake in United Rentals by 77.7% during the 2nd quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock valued at $295,626,000 after acquiring an additional 199,810 shares during the period. Finally, Hsbc Holdings PLC boosted its holdings in shares of United Rentals by 5.7% during the 2nd quarter. Hsbc Holdings PLC now owns 382,536 shares of the construction company’s stock valued at $247,001,000 after acquiring an additional 20,481 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Insiders Place Their Bets

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $823.24, for a total value of $740,916.00. Following the sale, the senior vice president now owns 2,044 shares in the company, valued at $1,682,702.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Joli L. Gross sold 360 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $690.00, for a total value of $248,400.00. Following the sale, the senior vice president now directly owns 4,090 shares in the company, valued at $2,822,100. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Anthony S. Leopold sold 900 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $823.24, for a total transaction of $740,916.00. Following the completion of the sale, the senior vice president now owns 2,044 shares in the company, valued at approximately $1,682,702.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company’s stock.

United Rentals Stock Down 1.5 %

URI opened at $812.44 on Wednesday. The stock has a market cap of $53.31 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 1.87 and a beta of 1.68. United Rentals, Inc. has a fifty-two week low of $395.44 and a fifty-two week high of $861.74. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.77 and a current ratio of 0.82. The firm’s fifty day moving average is $776.69 and its 200 day moving average is $710.38.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing the consensus estimate of $12.49 by ($0.69). The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.01 billion. United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $11.73 EPS. On average, sell-side analysts forecast that United Rentals, Inc. will post 44.31 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.80%. The ex-dividend date is Wednesday, November 13th. United Rentals’s payout ratio is currently 17.03%.

Analysts Set New Price Targets

URI has been the subject of a number of research reports. Bank of America boosted their target price on shares of United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. increased their target price on United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Barclays boosted their price target on United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Robert W. Baird increased their price objective on shares of United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research note on Thursday, October 3rd. Finally, Citigroup boosted their target price on shares of United Rentals from $930.00 to $955.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $742.50.

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.