United Rentals, Inc. (NYSE:URI) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of United Rentals, Inc. (NYSE:URI) by 68.5% during the 3rd quarter, HoldingsChannel reports. The fund 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 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. PCJ Investment Counsel Ltd. grew its holdings in United Rentals by 9.8% in the third quarter. PCJ Investment Counsel Ltd. now owns 8,970 shares of the construction company’s stock valued at $7,263,000 after purchasing an additional 800 shares during the period. Premier Fund Managers Ltd raised its stake in shares of United Rentals by 7.1% during the 3rd quarter. Premier Fund Managers Ltd now owns 24,350 shares of the construction company’s stock worth $19,832,000 after buying an additional 1,604 shares during the period. Avior Wealth Management LLC lifted its position in shares of United Rentals by 24.0% during the 3rd quarter. Avior Wealth Management LLC now owns 217 shares of the construction company’s stock valued at $176,000 after buying an additional 42 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in United Rentals in the 3rd quarter valued at $11,100,000. Finally, Fifth Third Wealth Advisors LLC increased its holdings in United Rentals by 11.2% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 757 shares of the construction company’s stock worth $613,000 after acquiring an additional 76 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Stock Performance

NYSE:URI opened at $849.03 on Friday. The company’s 50-day moving average is $819.40 and its two-hundred day moving average is $731.57. United Rentals, Inc. has a 1-year low of $454.71 and a 1-year high of $896.98. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.82 and a quick ratio of 0.77. The firm has a market capitalization of $55.71 billion, a price-to-earnings ratio of 22.17, a PEG 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 analysts’ consensus estimates of $12.49 by ($0.69). The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.01 billion. United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The company’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $11.73 earnings per share. Analysts forecast that United Rentals, Inc. will post 43.46 EPS for the current year.

United Rentals Dividend Announcement

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

Wall Street Analyst Weigh In

URI has been the topic of several recent analyst reports. Argus increased their price objective on shares of United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a report on Wednesday. Truist Financial lifted their price objective on United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a report on Friday, October 25th. JPMorgan Chase & Co. boosted their price objective on United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. The Goldman Sachs Group raised their target price on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Barclays boosted 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. Three analysts have rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, United Rentals presently has an average rating of “Hold” and a consensus target price of $751.67.

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 shares were 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 owns 2,044 shares of the company’s stock, valued at $1,682,702.56. This trade represents a 30.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.53% of the company’s stock.

About United Rentals

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.