Connor Clark & Lunn Investment Management Ltd. Lowers Stock Position in United Rentals, Inc. (NYSE:URI)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in shares of United Rentals, Inc. (NYSE:URI) by 68.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,888 shares of the construction company’s stock after selling 17,190 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in United Rentals were worth $6,387,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of United Rentals by 11.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,203 shares of the construction company’s stock valued at $7,492,000 after acquiring an additional 964 shares during the period. Essex Financial Services Inc. boosted its position in United Rentals by 31.9% during 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 boosted its position in United Rentals by 1,067.5% during 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 grew its stake in 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 during the last quarter. Finally, BDF Gestion bought a new position in United Rentals in the second quarter worth about $2,998,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on URI. The Goldman Sachs Group raised their price target on shares of United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a report on Friday, July 26th. JPMorgan Chase & Co. raised their target price on shares of United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Barclays upped their price target on United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Evercore ISI raised their price objective on United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Finally, Bank of America boosted their target price on United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $751.67.

Insider Activity

In related news, SVP Anthony S. Leopold sold 900 shares of United Rentals stock in a transaction that occurred on 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.53% of the company’s stock.

United Rentals Price Performance

Shares of NYSE URI opened at $849.03 on Friday. United Rentals, Inc. has a 52 week low of $454.71 and a 52 week high of $896.98. The business’s 50 day moving average price is $819.40 and its 200 day moving average price is $731.57. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 1.38. The firm has a market cap of $55.71 billion, a P/E ratio of 22.17, a P/E/G ratio of 1.93 and a beta of 1.68.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing the consensus estimate of $12.49 by ($0.69). United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period last year, the company earned $11.73 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. On average, sell-side analysts expect that United Rentals, Inc. will post 43.46 earnings per share for the current year.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.77%. United Rentals’s payout ratio is currently 17.03%.

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.