CIBC Asset Management Inc Has $2.55 Million Stock Holdings in United Rentals, Inc. (NYSE:URI)

CIBC Asset Management Inc boosted its holdings in shares of United Rentals, Inc. (NYSE:URIGet Rating) by 7.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,446 shares of the construction company’s stock after buying an additional 677 shares during the period. CIBC Asset Management Inc’s holdings in United Rentals were worth $2,552,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of URI. Creative Planning grew its stake in United Rentals by 0.7% during the 3rd quarter. Creative Planning now owns 11,422 shares of the construction company’s stock valued at $3,085,000 after acquiring an additional 81 shares in the last quarter. ACG Wealth increased its stake in United Rentals by 1.0% in the 3rd quarter. ACG Wealth now owns 14,980 shares of the construction company’s stock valued at $4,046,000 after buying an additional 143 shares during the period. Oxbow Advisors LLC purchased a new stake in United Rentals in the 3rd quarter worth approximately $311,000. Duality Advisers LP boosted its stake in shares of United Rentals by 115.9% during the 3rd quarter. Duality Advisers LP now owns 10,328 shares of the construction company’s stock valued at $2,790,000 after buying an additional 5,545 shares during the period. Finally, Teacher Retirement System of Texas grew its holdings in shares of United Rentals by 159.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 36,017 shares of the construction company’s stock valued at $9,729,000 after acquiring an additional 22,139 shares in the last quarter. 89.65% of the stock is owned by hedge funds and other institutional investors.

United Rentals Price Performance

NYSE URI opened at $393.80 on Wednesday. United Rentals, Inc. has a 1 year low of $230.54 and a 1 year high of $439.47. The company has a fifty day simple moving average of $362.87 and a 200 day simple moving average of $320.82. The company has a current ratio of 1.03, a quick ratio of 0.94 and a debt-to-equity ratio of 1.54. The company has a market cap of $27.29 billion, a P/E ratio of 14.47, a P/E/G ratio of 0.57 and a beta of 1.81.

United Rentals (NYSE:URIGet Rating) last issued its quarterly earnings results on Wednesday, October 26th. The construction company reported $9.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.00 by $0.27. United Rentals had a return on equity of 35.38% and a net margin of 17.51%. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.09 billion. On average, sell-side analysts predict that United Rentals, Inc. will post 32.6 EPS for the current year.

United Rentals announced that its Board of Directors has authorized a share repurchase plan on Wednesday, October 26th that authorizes the company to repurchase $1.25 billion in shares. This repurchase authorization authorizes the construction company to purchase up to 5.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at United Rentals

In other United Rentals news, Director Jose B. Alvarez purchased 177 shares of the business’s stock in a transaction dated Friday, November 18th. The stock was bought at an average cost of $344.65 per share, for a total transaction of $61,003.05. Following the completion of the acquisition, the director now directly owns 10,660 shares in the company, valued at $3,673,969. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.53% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on URI. Deutsche Bank Aktiengesellschaft cut their price objective on United Rentals from $354.00 to $328.00 and set a “hold” rating for the company in a report on Thursday, October 13th. StockNews.com lowered United Rentals from a “buy” rating to a “hold” rating in a report on Friday, January 13th. Robert W. Baird raised their price objective on shares of United Rentals from $318.00 to $365.00 in a research report on Monday, November 14th. KeyCorp lifted their target price on shares of United Rentals from $400.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, November 22nd. Finally, UBS Group increased their price target on shares of United Rentals from $365.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, November 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $394.10.

United Rentals Profile

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United Rentals, Inc engages in the equipment rental business. The company rents equipment to construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities. It operates through the General Rentals and Specialty segments. The General Rentals segment includes the rental of general construction and industrial equipment, earthmoving equipment, material handling equipment, aerial work platforms, and general tools and light equipment.

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Institutional Ownership by Quarter for United Rentals (NYSE:URI)

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