PCJ Investment Counsel Ltd. Buys 800 Shares of United Rentals, Inc. (NYSE:URI)

PCJ Investment Counsel Ltd. raised its holdings in shares of United Rentals, Inc. (NYSE:URI) by 9.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,970 shares of the construction company’s stock after buying an additional 800 shares during the quarter. United Rentals comprises 2.3% of PCJ Investment Counsel Ltd.’s investment portfolio, making the stock its 12th largest holding. PCJ Investment Counsel Ltd.’s holdings in United Rentals were worth $7,263,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of URI. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of United Rentals by 11.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,203 shares of the construction company’s stock valued at $7,492,000 after purchasing an additional 964 shares in the last quarter. Essex Financial Services Inc. raised its stake in shares of United Rentals by 31.9% in the second quarter. Essex Financial Services Inc. now owns 563 shares of the construction company’s stock valued at $364,000 after purchasing an additional 136 shares in the last quarter. Mizuho Securities USA LLC raised its stake in shares of United Rentals by 1,067.5% in the third quarter. Mizuho Securities USA LLC now owns 59,879 shares of the construction company’s stock valued at $48,486,000 after purchasing an additional 54,750 shares in the last quarter. Tidal Investments LLC raised its stake in shares of United Rentals by 241.2% in the first quarter. Tidal Investments LLC now owns 4,859 shares of the construction company’s stock valued at $3,504,000 after purchasing an additional 3,435 shares in the last quarter. Finally, BDF Gestion acquired a new position in shares of United Rentals in the second quarter valued at $2,998,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Stock Down 1.4 %

URI stock opened at $821.16 on Wednesday. The business’s 50 day simple moving average is $812.18 and its 200 day simple moving average is $729.02. The firm has a market capitalization of $53.88 billion, a PE ratio of 21.45, a PEG ratio of 1.96 and a beta of 1.68. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38. United Rentals, Inc. has a 1-year low of $454.71 and a 1-year high of $896.98.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, October 23rd. The construction company reported $11.80 earnings per share for the quarter, missing the consensus estimate of $12.49 by ($0.69). United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the company earned $11.73 earnings per share. United Rentals’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, research analysts anticipate that United Rentals, Inc. will post 43.55 EPS for the current year.

United Rentals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a dividend of $1.63 per share. The ex-dividend date is Wednesday, November 13th. This represents a $6.52 annualized dividend and a dividend yield of 0.79%. United Rentals’s dividend payout ratio is currently 17.03%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on URI shares. Bank of America increased their price objective on United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Citigroup increased their target price on United Rentals from $930.00 to $955.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Barclays raised their target price on United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Truist Financial raised their target price on United Rentals from $954.00 to $955.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Robert W. Baird raised their target price on United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $742.50.

Insider Buying and Selling

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $823.24, for a total value of $740,916.00. Following the completion of the transaction, the senior vice president now directly owns 2,044 shares in the company, valued at approximately $1,682,702.56. This trade represents a 30.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.49% of the stock is owned by corporate insiders.

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.