Canandaigua National Bank & Trust Co. Takes Position in United Rentals, Inc. $URI

Canandaigua National Bank & Trust Co. purchased a new position in United Rentals, Inc. (NYSE:URI) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,000 shares of the construction company’s stock, valued at approximately $1,133,000.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in United Rentals in the 4th quarter worth about $978,017,000. Corient Private Wealth LLC increased its holdings in United Rentals by 1,667.4% in the fourth quarter. Corient Private Wealth LLC now owns 343,965 shares of the construction company’s stock worth $278,378,000 after buying an additional 324,503 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in United Rentals by 3,459.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 196,688 shares of the construction company’s stock valued at $159,184,000 after acquiring an additional 191,162 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in United Rentals in the fourth quarter valued at approximately $102,945,000. Finally, Victory Capital Management Inc. grew its position in United Rentals by 103.7% in the fourth quarter. Victory Capital Management Inc. now owns 231,018 shares of the construction company’s stock worth $186,967,000 after acquiring an additional 117,584 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Stock Performance

United Rentals stock opened at $1,164.03 on Thursday. United Rentals, Inc. has a 52-week low of $701.59 and a 52-week high of $1,177.67. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.70. The stock has a fifty day moving average price of $1,078.56 and a two-hundred day moving average price of $929.82. The firm has a market capitalization of $72.45 billion, a P/E ratio of 27.95, a P/E/G ratio of 1.48 and a beta of 1.80.

United Rentals (NYSE:URI) last released its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, beating analysts’ consensus estimates of $11.53 by $1.23. The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the previous year, the business earned $10.47 earnings per share. As a group, analysts anticipate that United Rentals, Inc. will post 48.55 EPS for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be issued a $1.97 dividend. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, August 12th. United Rentals’s payout ratio is currently 18.92%.

Insider Activity

In other United Rentals news, EVP William E. Grace sold 1,500 shares of the firm’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the completion of the sale, the executive vice president owned 6,062 shares in the company, valued at approximately $6,869,155.30. This trade represents a 19.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.47% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on URI shares. KeyCorp restated an “overweight” rating and set a $1,350.00 price target on shares of United Rentals in a report on Friday, July 24th. Argus reaffirmed a “buy” rating and issued a $1,250.00 price target on shares of United Rentals in a research report on Tuesday. UBS Group upped their price target on United Rentals from $1,300.00 to $1,350.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Royal Bank Of Canada boosted their target price on United Rentals from $1,041.00 to $1,119.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Finally, Evercore reaffirmed an “outperform” rating and set a $1,101.00 target price on shares of United Rentals in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, United Rentals presently has an average rating of “Moderate Buy” and a consensus price target of $1,246.19.

About United Rentals

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.