TD Asset Management Inc Acquires 11,508 Shares of United Rentals, Inc. $URI

Key Points

• TD Asset Management Inc increased its holdings in United Rentals by 4.1%, acquiring an additional 11,508 shares to reach a total of 291,034 shares valued at approximately $219 million.
• United Rentals reported a quarterly EPS of $10.47, slightly missing estimates, but achieved revenues of $3.94 billion, exceeding expectations by 4.5% year-over-year.
• Institutional investors own 96.26% of United Rentals' stock, indicating significant confidence from large financial entities in the company's performance and prospects.

TD Asset Management Inc grew its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 4.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 291,034 shares of the construction company's stock after buying an additional 11,508 shares during the quarter. TD Asset Management Inc owned 0.45% of United Rentals worth $219,265,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of United Rentals by 0.4% during the first quarter. Vanguard Group Inc. now owns 7,422,036 shares of the construction company's stock valued at $4,651,390,000 after buying an additional 29,501 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of United Rentals by 98.1% during the first quarter. JPMorgan Chase & Co. now owns 1,093,805 shares of the construction company's stock valued at $685,488,000 after buying an additional 541,579 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of United Rentals by 28.8% during the first quarter. The Manufacturers Life Insurance Company now owns 849,786 shares of the construction company's stock valued at $532,561,000 after buying an additional 190,007 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of United Rentals by 22.3% during the first quarter. Goldman Sachs Group Inc. now owns 661,251 shares of the construction company's stock valued at $414,406,000 after buying an additional 120,449 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of United Rentals by 0.8% during the first quarter. Northern Trust Corp now owns 661,166 shares of the construction company's stock valued at $414,353,000 after buying an additional 5,113 shares during the last quarter. Institutional investors own 96.26% of the company's stock.

United Rentals Stock Up 2.6%

Shares of NYSE URI opened at $974.44 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.80 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $62.70 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 2.19 and a beta of 1.73. The stock's fifty day simple moving average is $939.68 and its two-hundred day simple moving average is $789.00. United Rentals, Inc. has a 12-month low of $525.91 and a 12-month high of $1,004.92.

United Rentals (NYSE:URI - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The construction company reported $10.47 earnings per share (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 company had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same period last year, the business posted $10.70 EPS. The firm's revenue was up 4.5% compared to the same quarter last year. United Rentals has set its FY 2025 guidance at EPS. As a group, analysts expect that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th were issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Wednesday, August 13th. United Rentals's dividend payout ratio is currently 18.52%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on URI. Bank of America increased their price objective on United Rentals from $895.00 to $900.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Argus set a $935.00 price objective on United Rentals in a research note on Tuesday, August 12th. Evercore ISI reissued an "outperform" rating on shares of United Rentals in a research note on Tuesday, August 19th. Barclays increased their price objective on United Rentals from $565.00 to $620.00 and gave the stock an "underweight" rating in a research note on Monday, July 21st. Finally, Truist Financial increased their price objective on United Rentals from $952.00 to $1,194.00 and gave the stock a "buy" rating in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, United Rentals currently has a consensus rating of "Moderate Buy" and a consensus price target of $956.13.

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.

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