United Rentals, Inc. (NYSE:URI) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank lowered its stake in shares of United Rentals, Inc. (NYSE:URI) by 3.1% during the second quarter, HoldingsChannel.com reports. The firm owned 19,434 shares of the construction company’s stock after selling 628 shares during the period. Toronto Dominion Bank’s holdings in United Rentals were worth $12,569,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Capital Research Global Investors increased its position in United Rentals by 39.1% during the 4th quarter. Capital Research Global Investors now owns 6,399,808 shares of the construction company’s stock worth $3,669,806,000 after purchasing an additional 1,799,997 shares in the last quarter. Capital International Investors purchased a new position in United Rentals in the first quarter valued at about $332,349,000. AMF Tjanstepension AB grew its position in shares of United Rentals by 77.7% during the second quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock worth $295,626,000 after buying an additional 199,810 shares in the last quarter. Marshall Wace LLP grew its holdings in United Rentals by 259.3% during the 2nd 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. Finally, AGF Management Ltd. grew its stake in United Rentals by 4,778.7% in the second quarter. AGF Management Ltd. now owns 103,672 shares of the construction company’s stock worth $67,048,000 after purchasing an additional 101,547 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on URI. Raymond James initiated coverage on shares of United Rentals in a report on Friday, June 28th. They issued an “outperform” rating and a $750.00 price objective for the company. The Goldman Sachs Group upped their target price on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a report on Friday, July 26th. JPMorgan Chase & Co. raised their price target on United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Truist Financial upped their price objective on United Rentals from $785.00 to $873.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Citigroup started coverage on shares of United Rentals in a report on Wednesday, June 26th. They set a “buy” rating and a $745.00 price target for the company. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $687.46.

Insider Buying and Selling at United Rentals

In other news, SVP Joli L. Gross sold 360 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $690.00, for a total transaction of $248,400.00. Following the completion of the sale, the senior vice president now owns 4,090 shares in the company, valued at approximately $2,822,100. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

United Rentals Stock Up 1.4 %

URI stock opened at $814.10 on Friday. The company has a market cap of $54.21 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 1.86 and a beta of 1.68. United Rentals, Inc. has a 12-month low of $387.01 and a 12-month high of $826.24. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.39. The company has a 50 day moving average of $730.26 and a two-hundred day moving average of $691.64.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, July 24th. The construction company reported $10.70 EPS for the quarter, topping analysts’ consensus estimates of $10.48 by $0.22. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the company posted $9.88 earnings per share. The firm’s revenue was up 6.2% on a year-over-year basis. On average, equities analysts anticipate that United Rentals, Inc. will post 44.39 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend was Wednesday, August 14th. United Rentals’s payout ratio is 17.66%.

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.