iA Global Asset Management Inc. Has $18.51 Million Stake in United Rentals, Inc. (NYSE:URI)

iA Global Asset Management Inc. trimmed its holdings in United Rentals, Inc. (NYSE:URI) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,269 shares of the construction company’s stock after selling 715 shares during the period. iA Global Asset Management Inc.’s holdings in United Rentals were worth $18,505,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in URI. FMR LLC boosted its position in shares of United Rentals by 3.7% during the third quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock worth $1,956,768,000 after buying an additional 85,325 shares during the period. Geode Capital Management LLC boosted its position in shares of United Rentals by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,566,802 shares of the construction company’s stock worth $1,264,326,000 after buying an additional 9,256 shares during the period. Franklin Resources Inc. boosted its position in shares of United Rentals by 6.1% during the third quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock worth $862,110,000 after buying an additional 57,002 shares during the period. JPMorgan Chase & Co. boosted its position in shares of United Rentals by 15.4% during the third quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock worth $637,968,000 after buying an additional 105,287 shares during the period. Finally, Nordea Investment Management AB boosted its position in shares of United Rentals by 7.6% during the fourth quarter. Nordea Investment Management AB now owns 732,954 shares of the construction company’s stock worth $517,018,000 after buying an additional 52,037 shares during the period. 96.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO William E. Grace sold 1,100 shares of United Rentals stock in a transaction on Monday, February 24th. The stock was sold at an average price of $638.10, for a total value of $701,910.00. Following the transaction, the chief financial officer now owns 6,880 shares in the company, valued at approximately $4,390,128. This trade represents a 13.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

United Rentals Price Performance

United Rentals stock opened at $627.42 on Thursday. United Rentals, Inc. has a 12 month low of $585.27 and a 12 month high of $896.98. The stock’s 50 day moving average is $698.05 and its 200-day moving average is $758.05. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $40.97 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 1.43 and a beta of 1.76.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, January 29th. The construction company reported $11.59 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%. Equities research analysts expect that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a $1.79 dividend. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. The ex-dividend date was Wednesday, February 12th. This represents a $7.16 annualized dividend and a dividend yield of 1.14%. United Rentals’s dividend payout ratio (DPR) is presently 18.48%.

Analyst Upgrades and Downgrades

URI has been the topic of several analyst reports. Argus upped their target price on United Rentals from $840.00 to $880.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Robert W. Baird upgraded United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 target price on the stock in a report on Tuesday, January 14th. Truist Financial reiterated a “buy” rating and set a $956.00 target price (down previously from $963.00) on shares of United Rentals in a report on Friday, January 31st. JPMorgan Chase & Co. upped their target price on United Rentals from $940.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Morgan Stanley dropped their target price on United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $829.00.

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.