Canandaigua National Bank & Trust Co. Acquires 73 Shares of United Rentals, Inc. (NYSE:URI)

Canandaigua National Bank & Trust Co. raised its stake in United Rentals, Inc. (NYSE:URI) by 7.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,073 shares of the construction company’s stock after buying an additional 73 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in United Rentals were worth $694,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Capital Research Global Investors boosted its stake in United Rentals by 39.1% in the 4th quarter. Capital Research Global Investors now owns 6,399,808 shares of the construction company’s stock worth $3,669,806,000 after purchasing an additional 1,799,997 shares during the period. Norges Bank acquired a new position in shares of United Rentals during the fourth quarter worth about $977,443,000. Dimensional Fund Advisors LP grew its holdings in shares of United Rentals by 4.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,246,092 shares of the construction company’s stock worth $714,578,000 after buying an additional 56,948 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in United Rentals by 1.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 650,387 shares of the construction company’s stock valued at $372,945,000 after buying an additional 11,429 shares during the last quarter. Finally, Capital International Investors bought a new stake in United Rentals in the 1st quarter valued at approximately $332,349,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Joli L. Gross sold 360 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $690.00, for a total value of $248,400.00. Following the completion of the transaction, the senior vice president now directly owns 4,090 shares in the company, valued at approximately $2,822,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on URI. JPMorgan Chase & Co. initiated coverage on shares of United Rentals in a research report on Friday, June 7th. They issued an “overweight” rating and a $780.00 price objective on the stock. Oppenheimer reissued a “market perform” rating on shares of United Rentals in a research report on Monday, April 29th. Truist Financial raised their price objective on United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a report on Friday, July 26th. Stifel Nicolaus lifted their target price on United Rentals from $720.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, The Goldman Sachs Group increased their price target on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $670.92.

United Rentals Price Performance

Shares of NYSE URI traded up $5.01 during midday trading on Friday, reaching $694.27. The company’s stock had a trading volume of 210,863 shares, compared to its average volume of 587,329. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 0.81. The company has a market cap of $45.92 billion, a P/E ratio of 18.66, a P/E/G ratio of 2.03 and a beta of 1.71. The business’s 50 day moving average price is $670.14 and its two-hundred day moving average price is $671.08. United Rentals, Inc. has a fifty-two week low of $387.01 and a fifty-two week high of $789.80.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, July 24th. The construction company reported $10.70 earnings per share for the quarter, beating the consensus estimate of $10.48 by $0.22. The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.77 billion. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $9.88 EPS. On average, analysts forecast that United Rentals, Inc. will post 44.35 EPS for the current fiscal year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th will be given a dividend of $1.63 per share. The ex-dividend date is Wednesday, August 14th. This represents a $6.52 annualized dividend and a yield of 0.94%. United Rentals’s dividend payout ratio is 17.66%.

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.