29,235 Shares in United Rentals, Inc. (NYSE:URI) Bought by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. purchased a new stake in shares of United Rentals, Inc. (NYSE:URI) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 29,235 shares of the construction company’s stock, valued at approximately $23,672,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital International Investors purchased a new position in shares of United Rentals in the 1st quarter worth about $332,349,000. AMF Tjanstepension AB grew its position in United Rentals by 77.7% during the second quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock valued at $295,626,000 after acquiring an additional 199,810 shares during the last quarter. Marshall Wace LLP raised its stake in shares of United Rentals by 259.3% during the second quarter. Marshall Wace LLP now owns 150,152 shares of the construction company’s stock worth $97,108,000 after acquiring an additional 108,360 shares in the last quarter. AGF Management Ltd. lifted its holdings in shares of United Rentals by 4,778.7% in the 2nd quarter. AGF Management Ltd. now owns 103,672 shares of the construction company’s stock worth $67,048,000 after acquiring an additional 101,547 shares during the last quarter. Finally, Heritage Wealth Advisors boosted its stake in shares of United Rentals by 15,100.8% in the 1st quarter. Heritage Wealth Advisors now owns 100,781 shares of the construction company’s stock valued at $72,674,000 after purchasing an additional 100,118 shares in the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Wall Street Analysts Forecast Growth

URI has been the subject of several recent research reports. The Goldman Sachs Group boosted their price target on shares of United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Robert W. Baird boosted their target price on United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a research note on Thursday, October 3rd. Truist Financial raised their price target on United Rentals from $873.00 to $954.00 and gave the stock a “buy” rating in a research report on Wednesday. Evercore ISI boosted their price objective on United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Finally, Citigroup raised their target price on shares of United Rentals from $860.00 to $930.00 and gave the stock a “buy” rating in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, United Rentals currently has an average rating of “Hold” and an average target price of $714.92.

Insider Activity at United Rentals

In other United Rentals news, SVP Joli L. Gross sold 360 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $690.00, for a total value of $248,400.00. Following the sale, the senior vice president now owns 4,090 shares in the company, valued at approximately $2,822,100. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is currently owned by corporate insiders.

United Rentals Price Performance

URI stock opened at $819.00 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.81 and a quick ratio of 0.76. United Rentals, Inc. has a 1 year low of $387.01 and a 1 year high of $826.24. The firm has a 50-day moving average of $744.21 and a 200 day moving average of $699.31. The company has a market cap of $54.17 billion, a P/E ratio of 21.62, a PEG ratio of 1.86 and a beta of 1.68.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, July 24th. The construction company reported $10.70 EPS for the quarter, beating analysts’ consensus estimates of $10.48 by $0.22. The company 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 firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $9.88 EPS. On average, sell-side analysts forecast that United Rentals, Inc. will post 44.39 EPS for the current year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were paid a $1.63 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $6.52 annualized dividend and a dividend yield of 0.80%. United Rentals’s payout ratio is 17.21%.

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.