United Rentals, Inc. (NYSE:URI) Stock Holdings Reduced by Todd Asset Management LLC

Todd Asset Management LLC lowered its holdings in shares of United Rentals, Inc. (NYSE:URI) by 13.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 153,718 shares of the construction company’s stock after selling 23,957 shares during the period. United Rentals accounts for 1.9% of Todd Asset Management LLC’s investment portfolio, making the stock its 3rd largest holding. Todd Asset Management LLC owned 0.23% of United Rentals worth $88,145,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of URI. Exchange Traded Concepts LLC purchased a new position in United Rentals in the third quarter valued at about $281,000. Commonwealth Equity Services LLC boosted its stake in United Rentals by 1.0% during the third quarter. Commonwealth Equity Services LLC now owns 44,623 shares of the construction company’s stock valued at $19,838,000 after buying an additional 446 shares in the last quarter. Xponance Inc. raised its holdings in shares of United Rentals by 0.4% in the 3rd quarter. Xponance Inc. now owns 10,342 shares of the construction company’s stock worth $4,598,000 after purchasing an additional 40 shares in the last quarter. Pinnacle Associates Ltd. boosted its stake in shares of United Rentals by 2.0% during the 3rd quarter. Pinnacle Associates Ltd. now owns 4,124 shares of the construction company’s stock worth $1,834,000 after acquiring an additional 79 shares in the last quarter. Finally, Raymond James & Associates increased its position in shares of United Rentals by 4.7% in the third quarter. Raymond James & Associates now owns 113,793 shares of the construction company’s stock worth $50,589,000 after acquiring an additional 5,117 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insider Buying and Selling at United Rentals

In other United Rentals news, CFO William E. Grace sold 775 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $655.62, for a total value of $508,105.50. Following the completion of the transaction, the chief financial officer now directly owns 6,323 shares in the company, valued at approximately $4,145,485.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other United Rentals news, COO Michael D. Durand sold 559 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $674.56, for a total value of $377,079.04. Following the sale, the chief operating officer now directly owns 8,052 shares of the company’s stock, valued at $5,431,557.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO William E. Grace sold 775 shares of United Rentals stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $655.62, for a total transaction of $508,105.50. Following the completion of the sale, the chief financial officer now directly owns 6,323 shares in the company, valued at approximately $4,145,485.26. The disclosure for this sale can be found here. Insiders sold a total of 9,713 shares of company stock worth $6,747,384 in the last three months. 0.53% of the stock is currently owned by company insiders.

United Rentals Price Performance

United Rentals stock traded up $2.09 during midday trading on Friday, hitting $666.66. 343,283 shares of the company’s stock were exchanged, compared to its average volume of 612,228. The company has a market cap of $44.39 billion, a P/E ratio of 18.06, a PEG ratio of 2.17 and a beta of 1.82. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.83 and a current ratio of 0.89. The stock has a 50-day moving average price of $683.37 and a two-hundred day moving average price of $587.50. United Rentals, Inc. has a 52-week low of $325.15 and a 52-week high of $732.37.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 EPS for the quarter, topping the consensus estimate of $8.35 by $0.80. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The firm had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.44 billion. During the same quarter in the previous year, the business earned $7.95 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities research analysts forecast that United Rentals, Inc. will post 43.61 earnings per share for the current year.

United Rentals declared that its Board of Directors has approved a stock buyback plan on Wednesday, January 24th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to reacquire up to 3.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $6.52 dividend on an annualized basis and a yield of 0.98%. United Rentals’s dividend payout ratio is presently 17.66%.

Analysts Set New Price Targets

URI has been the subject of a number of recent research reports. The Goldman Sachs Group raised their price target on United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Truist Financial boosted their target price on shares of United Rentals from $793.00 to $796.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Wells Fargo & Company lifted their price target on United Rentals from $630.00 to $710.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Oppenheimer reiterated a “market perform” rating on shares of United Rentals in a report on Monday, April 29th. Finally, Robert W. Baird lifted their price objective on shares of United Rentals from $322.00 to $559.00 and gave the stock an “underperform” rating in a research note on Friday, January 26th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, United Rentals currently has a consensus rating of “Hold” and an average price target of $600.79.

About United Rentals

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.