Scotia Capital Inc. Reduces Stake in United Rentals, Inc. (NYSE:URI)

Key Points

• Scotia Capital Inc. reduced its holdings in United Rentals, Inc. by 23.4%, owning 4,267 shares valued at $2.67 million as per their recent SEC filing.
• Several other institutional investors have also adjusted their positions in United Rentals, with 96.26% of the company's stock now held by institutional investors and hedge funds.
• United Rentals reported a $10.47 EPS for the last quarter, missing estimates slightly, while its upcoming quarterly dividend is set at $1.79, reflecting a yield of 0.8%.

Scotia Capital Inc. decreased its holdings in United Rentals, Inc. (NYSE:URI - Free Report) by 23.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,267 shares of the construction company's stock after selling 1,307 shares during the quarter. Scotia Capital Inc.'s holdings in United Rentals were worth $2,674,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fourth Dimension Wealth LLC purchased a new position in United Rentals during the first quarter valued at $26,000. TruNorth Capital Management LLC lifted its position in United Rentals by 1,266.7% during the first quarter. TruNorth Capital Management LLC now owns 41 shares of the construction company's stock valued at $26,000 after buying an additional 38 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its position in United Rentals by 69.0% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 49 shares of the construction company's stock valued at $31,000 after buying an additional 20 shares during the period. Grove Bank & Trust purchased a new position in United Rentals during the first quarter valued at $36,000. Finally, NBC Securities Inc. purchased a new position in United Rentals during the first quarter valued at $40,000. Hedge funds and other institutional investors own 96.26% of the company's stock.

United Rentals Trading Up 0.5%

NYSE URI traded up $4.38 on Friday, reaching $858.99. 273,014 shares of the company were exchanged, compared to its average volume of 657,119. The business's fifty day moving average price is $777.39 and its 200 day moving average price is $703.50. The stock has a market capitalization of $55.27 billion, a P/E ratio of 22.21, a price-to-earnings-growth ratio of 1.99 and a beta of 1.72. The company has a current ratio of 0.86, a quick ratio of 0.80 and a debt-to-equity ratio of 1.34. United Rentals, Inc. has a fifty-two week low of $525.91 and a fifty-two week high of $903.60.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The construction company reported $10.47 EPS for the quarter, missing the consensus estimate of $10.54 by ($0.07). United Rentals had a net margin of 16.11% and a return on equity of 32.01%. The business had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.90 billion. During the same period last year, the company earned $10.70 EPS. The business's revenue for the quarter was up 4.5% on a year-over-year basis. Analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th will be paid a dividend of $1.79 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $7.16 annualized dividend and a yield of 0.8%. United Rentals's dividend payout ratio is presently 18.52%.

Insider Transactions at United Rentals

In related news, VP Andrew B. Limoges sold 708 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $705.86, for a total transaction of $499,748.88. Following the transaction, the vice president owned 1,921 shares of the company's stock, valued at approximately $1,355,957.06. This represents a 26.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.53% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on URI shares. Cfra Research raised United Rentals to a "strong-buy" rating in a research report on Friday, April 25th. Citigroup reiterated a "buy" rating and issued a $810.00 price objective (up from $740.00) on shares of United Rentals in a report on Tuesday, June 24th. Evercore ISI reduced their price objective on United Rentals from $974.00 to $921.00 and set an "outperform" rating for the company in a report on Monday, May 19th. Redburn Atlantic downgraded United Rentals from a "buy" rating to a "neutral" rating and set a $760.00 price target for the company. in a research note on Friday, June 13th. Finally, UBS Group boosted their price target on United Rentals from $780.00 to $835.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, United Rentals has a consensus rating of "Moderate Buy" and an average price target of $830.71.

United Rentals Company 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.