Toronto Dominion Bank Reduces Holdings in United Rentals, Inc. (NYSE:URI)

Toronto Dominion Bank reduced its position in United Rentals, Inc. (NYSE:URI) by 3.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund 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.

Other large investors have also recently made changes to their positions in the company. First Financial Corp IN purchased a new stake in United Rentals in the first quarter valued at approximately $25,000. Crewe Advisors LLC acquired a new stake in United Rentals during the 1st quarter worth $27,000. RFP Financial Group LLC boosted its stake in United Rentals by 115.8% during the 2nd quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock worth $27,000 after purchasing an additional 22 shares during the period. Rise Advisors LLC purchased a new position in United Rentals during the 1st quarter worth $28,000. Finally, Riverview Trust Co acquired a new position in United Rentals in the first quarter valued at $31,000. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Price Performance

Shares of NYSE:URI opened at $814.10 on Friday. The firm has a market capitalization of $54.21 billion, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 1.86 and a beta of 1.68. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.81 and a quick ratio of 0.76. The business’s 50 day simple moving average is $730.26 and its 200-day simple moving average is $691.64. United Rentals, Inc. has a 12 month low of $387.01 and a 12 month high of $826.24.

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

United Rentals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were issued a dividend of $1.63 per share. The ex-dividend date was Wednesday, August 14th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.80%. United Rentals’s dividend payout ratio (DPR) is presently 17.66%.

Insider Activity

In related news, SVP Joli L. Gross sold 360 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $690.00, for a total transaction of $248,400.00. Following the sale, the senior vice president now owns 4,090 shares in the company, valued at $2,822,100. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.