TD Asset Management Inc Sells 73,070 Shares of United Rentals, Inc. $URI

Key Points

• TD Asset Management Inc cut its United Rentals stake by 15.1% in the fourth quarter, selling 73,070 shares and leaving it with 411,380 shares valued at about $332.9 million.
• United Rentals recently reported missed quarterly results, posting EPS of $9.71 versus the $11.47 consensus and revenue of $3.99 billion versus $4.20 billion expected, though revenue still rose 7.2% year over year.
• Despite mixed fundamentals, Wall Street remains broadly positive: analysts have a Moderate Buy consensus with an average target price of $1,013.63, and the stock was trading near its 52-week high at $1,060.93.

TD Asset Management Inc lowered its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 15.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 411,380 shares of the construction company's stock after selling 73,070 shares during the period. TD Asset Management Inc owned 0.65% of United Rentals worth $332,938,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Greenspring Advisors LLC bought a new position in United Rentals during the fourth quarter worth about $286,000. Lido Advisors LLC grew its holdings in United Rentals by 2.9% during the fourth quarter. Lido Advisors LLC now owns 15,801 shares of the construction company's stock worth $12,788,000 after purchasing an additional 440 shares during the period. CIBC Asset Management Inc grew its holdings in United Rentals by 64.8% during the fourth quarter. CIBC Asset Management Inc now owns 15,767 shares of the construction company's stock worth $12,761,000 after purchasing an additional 6,199 shares during the period. Westpac Banking Corp grew its holdings in United Rentals by 19.7% during the fourth quarter. Westpac Banking Corp now owns 261 shares of the construction company's stock worth $211,000 after purchasing an additional 43 shares during the period. Finally, Bridges Investment Management Inc. grew its holdings in United Rentals by 2.0% during the fourth quarter. Bridges Investment Management Inc. now owns 69,583 shares of the construction company's stock worth $56,315,000 after purchasing an additional 1,354 shares during the period. Institutional investors own 96.26% of the company's stock.

Wall Street Analyst Weigh In

URI has been the subject of several research reports. Weiss Ratings upgraded shares of United Rentals from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, May 18th. UBS Group raised their price objective on shares of United Rentals from $1,025.00 to $1,145.00 and gave the stock a "buy" rating in a research report on Wednesday. Sanford C. Bernstein set a $903.00 price objective on shares of United Rentals and gave the stock an "outperform" rating in a research report on Thursday, April 9th. Barclays raised their price objective on shares of United Rentals from $600.00 to $715.00 and gave the stock an "underweight" rating in a research report on Friday, April 24th. Finally, Truist Financial set a $1,209.00 price objective on shares of United Rentals in a research report on Friday, April 24th. Twelve investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,013.63.

United Rentals Stock Up 6.6%

NYSE URI opened at $1,060.93 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37. United Rentals, Inc. has a 1-year low of $682.08 and a 1-year high of $1,067.88. The company has a 50 day moving average of $872.71 and a 200-day moving average of $849.10. The company has a market cap of $66.47 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 1.58 and a beta of 1.81.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $11.47 by ($1.76). The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The business's revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business earned $8.86 earnings per share. On average, equities research analysts expect that United Rentals, Inc. will post 47.07 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were paid a $1.97 dividend. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, May 13th. United Rentals's dividend payout ratio (DPR) is 20.10%.

Insider Activity

In related news, VP Andrew B. Limoges sold 548 shares of United Rentals stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $977.86, for a total value of $535,867.28. Following the transaction, the vice president directly owned 1,865 shares of the company's stock, valued at $1,823,708.90. This trade represents a 22.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Joli L. Gross sold 306 shares of United Rentals stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $954.99, for a total transaction of $292,226.94. Following the completion of the transaction, the senior vice president directly owned 5,738 shares in the company, valued at $5,479,732.62. This trade represents a 5.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 26,088 shares of company stock valued at $25,628,877. 0.47% of the stock is owned by insiders.

About United Rentals

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.

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