United Rentals, Inc. $URI Stake Lessened by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. cut its stake in United Rentals, Inc. (NYSE:URI) by 39.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 6,432 shares of the construction company’s stock after selling 4,258 shares during the period. TD Waterhouse Canada Inc.’s holdings in United Rentals were worth $7,153,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. SFE Investment Counsel bought a new position in United Rentals during the 2nd quarter worth approximately $12,765,000. Eventide Asset Management LLC grew its position in shares of United Rentals by 19.6% in the 4th quarter. Eventide Asset Management LLC now owns 95,940 shares of the construction company’s stock worth $77,666,000 after acquiring an additional 15,696 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of United Rentals by 52.0% in the 4th quarter. Sequoia Financial Advisors LLC now owns 3,241 shares of the construction company’s stock valued at $2,623,000 after acquiring an additional 1,109 shares during the last quarter. Bridges Investment Management Inc. raised its position in shares of United Rentals by 2.0% during the 4th quarter. Bridges Investment Management Inc. now owns 69,583 shares of the construction company’s stock valued at $56,315,000 after acquiring an additional 1,354 shares in the last quarter. Finally, WINTON GROUP Ltd raised its position in shares of United Rentals by 995.1% during the 4th quarter. WINTON GROUP Ltd now owns 13,612 shares of the construction company’s stock valued at $11,016,000 after acquiring an additional 12,369 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

URI has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their target price on shares of United Rentals from $1,100.00 to $1,235.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. UBS Group raised their price target on shares of United Rentals from $1,300.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Wells Fargo & Company boosted their price objective on shares of United Rentals from $1,245.00 to $1,355.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Truist Financial raised their target price on shares of United Rentals from $1,421.00 to $1,466.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Finally, BNP Paribas Exane upgraded United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 target price for the company in a research note on Monday, June 29th. One research 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 stock. According to data from MarketBeat, United Rentals has a consensus rating of “Moderate Buy” and an average target price of $1,246.19.

United Rentals Trading Up 1.6%

Shares of NYSE:URI opened at $1,009.78 on Friday. The company has a market cap of $62.85 billion, a PE ratio of 24.25, a P/E/G ratio of 1.49 and a beta of 1.79. The company’s 50-day moving average price is $1,087.43 and its 200 day moving average price is $961.69. United Rentals, Inc. has a fifty-two week low of $701.59 and a fifty-two week high of $1,179.18. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI) last posted its earnings results on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, topping the consensus estimate of $11.53 by $1.23. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The firm had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter in the prior year, the firm earned $10.47 EPS. United Rentals’s quarterly revenue was up 11.8% on a year-over-year basis. Sell-side analysts anticipate that United Rentals, Inc. will post 48.55 earnings per share for the current year.

United Rentals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were issued a $1.97 dividend. This represents a $7.88 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, August 12th. United Rentals’s dividend payout ratio is 18.92%.

Insider Buying and Selling

In related news, EVP William Grace sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the sale, the executive vice president directly owned 6,062 shares in the company, valued at $6,869,155.30. This trade represents a 19.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

United Rentals Profile

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.