PCJ Investment Counsel Ltd. Increases Position in United Rentals, Inc. (NYSE:URI)

PCJ Investment Counsel Ltd. increased its stake in United Rentals, Inc. (NYSE:URI) by 23.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 11,090 shares of the construction company’s stock after acquiring an additional 2,120 shares during the period. United Rentals comprises 2.6% of PCJ Investment Counsel Ltd.’s holdings, making the stock its 9th largest position. PCJ Investment Counsel Ltd.’s holdings in United Rentals were worth $7,812,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of URI. ORG Wealth Partners LLC purchased a new position in shares of United Rentals during the 4th quarter worth approximately $26,000. Hanson & Doremus Investment Management purchased a new stake in United Rentals in the fourth quarter worth $33,000. Kestra Investment Management LLC purchased a new stake in United Rentals in the fourth quarter worth $34,000. Promus Capital LLC purchased a new position in United Rentals during the fourth quarter valued at $41,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in shares of United Rentals during the 4th quarter valued at $42,000. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

United Rentals Stock Up 0.4 %

URI opened at $628.63 on Friday. The stock has a market capitalization of $41.05 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 1.43 and a beta of 1.76. The firm has a 50 day moving average price of $712.93 and a 200-day moving average price of $765.21. United Rentals, Inc. has a twelve month low of $585.27 and a twelve month high of $896.98. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, January 29th. The construction company reported $11.59 earnings per share for the quarter, missing analysts’ consensus estimates of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. Equities research analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a $1.79 dividend. This is an increase from United Rentals’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.16 dividend on an annualized basis and a yield of 1.14%. United Rentals’s dividend payout ratio is currently 18.48%.

Insider Buying and Selling at United Rentals

In related news, CFO William E. Grace sold 1,100 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $638.10, for a total value of $701,910.00. Following the transaction, the chief financial officer now owns 6,880 shares of the company’s stock, valued at approximately $4,390,128. This trade represents a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on URI. Morgan Stanley dropped their price objective on shares of United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Robert W. Baird raised United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price target on the stock in a research report on Tuesday, January 14th. Argus raised their price objective on United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Citigroup dropped their target price on United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Truist Financial restated a “buy” rating and set a $956.00 price target (down from $963.00) on shares of United Rentals in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $829.00.

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.