United Rentals, Inc. $URI Shares Bought by AGF Management Ltd.

AGF Management Ltd. lifted its stake in shares of United Rentals, Inc. (NYSE:URI) by 167.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,495 shares of the construction company’s stock after acquiring an additional 937 shares during the quarter. AGF Management Ltd.’s holdings in United Rentals were worth $1,427,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of URI. Loomis Sayles & Co. L P acquired a new stake in United Rentals during the 2nd quarter worth about $28,000. Salomon & Ludwin LLC increased its position in shares of United Rentals by 650.0% in the third quarter. Salomon & Ludwin LLC now owns 30 shares of the construction company’s stock worth $29,000 after acquiring an additional 26 shares in the last quarter. Cedar Mountain Advisors LLC acquired a new stake in shares of United Rentals during the third quarter valued at approximately $32,000. Trust Co. of Toledo NA OH purchased a new stake in shares of United Rentals in the 2nd quarter valued at approximately $38,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in United Rentals during the 3rd quarter worth approximately $40,000. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Trading Down 0.1%

Shares of NYSE URI opened at $847.55 on Friday. The business has a 50 day simple moving average of $849.91 and a 200 day simple moving average of $887.59. United Rentals, Inc. has a 52 week low of $525.91 and a 52 week high of $1,021.47. The stock has a market cap of $53.39 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 1.36 and a beta of 1.70. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.88 and a current ratio of 0.94.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, January 28th. The construction company reported $11.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.86 by ($0.77). The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.24 billion. United Rentals had a net margin of 15.49% and a return on equity of 30.35%. United Rentals’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $11.59 earnings per share. On average, research analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals declared that its Board of Directors has authorized a share buyback plan on Wednesday, January 28th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 8.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

United Rentals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th will be issued a $1.97 dividend. This is a boost from United Rentals’s previous quarterly dividend of $1.79. This represents a $7.88 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Wednesday, February 11th. United Rentals’s dividend payout ratio is currently 20.37%.

Insider Buying and Selling

In other United Rentals news, EVP Michael D. Durand sold 2,490 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $791.14, for a total transaction of $1,969,938.60. Following the transaction, the executive vice president directly owned 7,458 shares in the company, valued at $5,900,322.12. This trade represents a 25.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on URI shares. Wells Fargo & Company raised their target price on United Rentals from $995.00 to $1,071.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Truist Financial set a $972.00 price objective on United Rentals in a research report on Friday, January 30th. KeyCorp set a $950.00 target price on United Rentals in a report on Friday, January 30th. Robert W. Baird set a $970.00 price target on shares of United Rentals in a research report on Friday, January 30th. Finally, Barclays lowered their price objective on shares of United Rentals from $620.00 to $600.00 and set an “underweight” rating on the stock in a research report on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $925.59.

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.