CIBC Asset Management Inc Has $7.08 Million Holdings in United Rentals, Inc. (NYSE:URI)

CIBC Asset Management Inc grew its stake in shares of United Rentals, Inc. (NYSE:URI) by 3.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,054 shares of the construction company’s stock after acquiring an additional 325 shares during the period. CIBC Asset Management Inc’s holdings in United Rentals were worth $7,082,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC increased its position in United Rentals by 82,462.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock worth $1,300,962,000 after purchasing an additional 1,604,715 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of United Rentals by 15.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock valued at $637,968,000 after purchasing an additional 105,287 shares during the last quarter. FMR LLC boosted its holdings in United Rentals by 3.7% in the third quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock worth $1,956,768,000 after purchasing an additional 85,325 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in United Rentals by 10.5% in the third quarter. The Manufacturers Life Insurance Company now owns 704,145 shares of the construction company’s stock worth $570,167,000 after purchasing an additional 66,957 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in United Rentals by 6.1% during the third quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock worth $862,110,000 after buying an additional 57,002 shares during the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on URI. Argus upped their price target on United Rentals from $840.00 to $880.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Barclays boosted their target price on United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Robert W. Baird upgraded United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price target on the stock in a report on Tuesday, January 14th. Citigroup reduced their price objective on shares of United Rentals from $985.00 to $835.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, Baird R W upgraded shares of United Rentals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $829.00.

United Rentals Stock Performance

NYSE:URI opened at $708.42 on Thursday. The firm’s 50-day moving average is $735.61 and its 200-day moving average is $769.95. The company has a market cap of $46.27 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.52 and a beta of 1.68. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.92 and a current ratio of 0.98. United Rentals, Inc. has a 52-week low of $596.48 and a 52-week high of $896.98.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, January 29th. The construction company reported $11.59 EPS for the quarter, missing the consensus estimate 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 anticipate that United Rentals, Inc. will post 44.93 earnings per share for the current year.

United Rentals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be paid a dividend of $1.79 per share. The ex-dividend date is Wednesday, February 12th. This represents a $7.16 dividend on an annualized basis and a yield of 1.01%. This is an increase from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s payout ratio is currently 18.48%.

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.