United Rentals, Inc. $URI Shares Sold by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada reduced its United Rentals stake by 39.8% in the second quarter, selling 4,258 shares and retaining 6,432 shares valued at approximately $7.15 million. Institutional investors and hedge funds collectively own 96.26% of the company.
• United Rentals exceeded quarterly expectations, reporting $12.76 in earnings per share and $4.41 billion in revenue, with revenue up 11.8% year over year. The company also pays a quarterly dividend of $1.97 per share, yielding about 0.8%.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $1,246.19, above the reported share price of $1,009.78.

TD Waterhouse Canada Inc. cut its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 39.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,432 shares of the construction company's stock after selling 4,258 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in United Rentals were worth $7,153,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Woodline Partners LP lifted its holdings in shares of United Rentals by 40.0% during the 1st quarter. Woodline Partners LP now owns 5,518 shares of the construction company's stock worth $3,458,000 after acquiring an additional 1,577 shares during the period. Sei Investments Co. grew its holdings in United Rentals by 24.7% in the second quarter. Sei Investments Co. now owns 27,136 shares of the construction company's stock valued at $20,444,000 after purchasing an additional 5,375 shares during the period. Treasurer of the State of North Carolina grew its holdings in United Rentals by 43.6% in the second quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company's stock valued at $42,233,000 after purchasing an additional 17,030 shares during the period. HUB Investment Partners LLC increased its position in United Rentals by 11.3% during the second quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company's stock worth $1,661,000 after purchasing an additional 223 shares during the last quarter. Finally, Diversify Advisory Services LLC increased its position in United Rentals by 338.7% during the second quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company's stock worth $1,246,000 after purchasing an additional 1,277 shares during the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Trading Up 1.6%

NYSE:URI opened at $1,009.78 on Friday. The business's 50-day moving average is $1,087.43 and its two-hundred day moving average is $961.69. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.70. United Rentals, Inc. has a 12 month low of $701.59 and a 12 month high of $1,179.18. The firm has a market capitalization of $62.85 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 1.49 and a beta of 1.79.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, topping analysts' consensus estimates of $11.53 by $1.23. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.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 business earned $10.47 EPS. United Rentals's quarterly revenue was up 11.8% compared to the same quarter last year. Research analysts predict that United Rentals, Inc. will post 48.55 earnings per share for the current fiscal year.

United Rentals Announces Dividend

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

Insider Activity

In related news, EVP William Grace sold 1,500 shares of the business's stock in a transaction dated 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 transaction, the executive vice president owned 6,062 shares in the company, valued at approximately $6,869,155.30. The trade was a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.47% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on URI shares. Citigroup lifted their price target on shares of United Rentals from $1,270.00 to $1,330.00 and gave the company a "buy" rating in a report on Friday, July 24th. Wells Fargo & Company lifted their target price on United Rentals from $1,245.00 to $1,355.00 and gave the company an "overweight" rating in a report on Friday, July 24th. Weiss Ratings raised United Rentals from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 23rd. KeyCorp restated an "overweight" rating and issued a $1,350.00 price objective on shares of United Rentals in a report on Friday, July 24th. Finally, Evercore reiterated an "outperform" rating and set a $1,101.00 target price on shares of United Rentals in a report on Monday, May 11th. One investment 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. Based on data from MarketBeat.com, United Rentals presently has an average rating of "Moderate Buy" and a consensus target price of $1,246.19.

United Rentals Company 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.

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