Caisse de depot et placement du Quebec Invests $42.02 Million in United Rentals, Inc. $URI

Caisse de depot et placement du Quebec purchased a new stake in shares of United Rentals, Inc. (NYSE:URI) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 37,092 shares of the construction company’s stock, valued at approximately $42,021,000.

A number of other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in United Rentals during the second quarter worth $5,816,326,000. Capital World Investors lifted its stake in shares of United Rentals by 1.1% in the 4th quarter. Capital World Investors now owns 2,708,877 shares of the construction company’s stock valued at $2,192,357,000 after purchasing an additional 30,263 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of United Rentals by 2.2% in the 4th quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company’s stock valued at $1,087,711,000 after purchasing an additional 28,895 shares during the last quarter. Norges Bank purchased a new position in shares of United Rentals during the 4th quarter worth $978,017,000. Finally, Bank of America Corp DE grew its holdings in shares of United Rentals by 14.7% during the 1st quarter. Bank of America Corp DE now owns 806,380 shares of the construction company’s stock worth $587,496,000 after purchasing an additional 103,371 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP William E. Grace sold 1,500 shares of the business’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the completion of the transaction, the executive vice president owned 6,062 shares in the company, valued at approximately $6,869,155.30. The trade was a 19.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.47% of the company’s stock.

United Rentals Stock Down 1.8%

Shares of NYSE:URI opened at $1,038.12 on Friday. The firm’s 50 day moving average price is $1,098.25 and its 200 day moving average price is $956.65. The stock has a market cap of $64.61 billion, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 1.36 and a beta of 1.80. United Rentals, Inc. has a fifty-two week low of $701.59 and a fifty-two week high of $1,179.18. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, topping the consensus estimate of $11.53 by $1.23. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The company had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter in the previous year, the business posted $10.47 EPS. The firm’s revenue was up 11.8% on a year-over-year basis. As a group, equities research analysts predict that United Rentals, Inc. will post 48.55 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were given a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, August 12th. United Rentals’s payout ratio is 18.92%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on URI shares. Argus reissued a “buy” rating and set a $1,250.00 price objective on shares of United Rentals in a research report on Tuesday, August 4th. JPMorgan Chase & Co. upped their target price on shares of United Rentals from $1,100.00 to $1,235.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Barclays increased their target price on shares of United Rentals from $715.00 to $950.00 and gave the stock an “underweight” rating in a research note on Friday, July 24th. Wall Street Zen upgraded shares of United Rentals from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Finally, KeyCorp restated an “overweight” rating and issued a $1,350.00 price objective on shares of United Rentals in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, United Rentals has an average rating of “Moderate Buy” and an average price target of $1,246.19.

United Rentals Company Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.