AGF Management Ltd. Cuts Stake in United Rentals, Inc. (NYSE:URI)

AGF Management Ltd. cut its stake in United Rentals, Inc. (NYSE:URI) by 98.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,906 shares of the construction company’s stock after selling 101,821 shares during the quarter. AGF Management Ltd.’s holdings in United Rentals were worth $1,343,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Inspire Advisors LLC increased its position in shares of United Rentals by 25.4% during the fourth quarter. Inspire Advisors LLC now owns 1,211 shares of the construction company’s stock worth $853,000 after acquiring an additional 245 shares during the last quarter. Markel Group Inc. increased its position in shares of United Rentals by 14.3% during the fourth quarter. Markel Group Inc. now owns 29,650 shares of the construction company’s stock worth $20,887,000 after acquiring an additional 3,700 shares during the last quarter. Paragon Private Wealth Management LLC increased its position in shares of United Rentals by 13.7% during the fourth quarter. Paragon Private Wealth Management LLC now owns 986 shares of the construction company’s stock worth $695,000 after acquiring an additional 119 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of United Rentals by 18.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 25,051 shares of the construction company’s stock worth $17,647,000 after acquiring an additional 3,968 shares during the last quarter. Finally, Simplicity Wealth LLC purchased a new stake in shares of United Rentals during the fourth quarter worth about $294,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at United Rentals

In related news, CFO William E. Grace sold 1,100 shares of United Rentals stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $638.10, for a total transaction of $701,910.00. Following the sale, the chief financial officer now directly owns 6,880 shares in the company, valued at $4,390,128. The trade was a 13.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is owned by insiders.

United Rentals Stock Performance

Shares of URI stock opened at $623.35 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. The business has a 50 day moving average of $701.71 and a two-hundred day moving average of $760.27. United Rentals, Inc. has a 52 week low of $585.27 and a 52 week high of $896.98. The company has a market cap of $40.71 billion, a P/E ratio of 16.09, a PEG ratio of 1.43 and a beta of 1.76.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, January 29th. The construction company reported $11.59 EPS for the quarter, missing analysts’ consensus estimates of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. As a group, analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a $1.79 dividend. This is a boost from United Rentals’s previous quarterly dividend of $1.63. This represents a $7.16 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Wednesday, February 12th. United Rentals’s dividend payout ratio (DPR) is currently 18.48%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on URI. Evercore ISI dropped their target price on United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Morgan Stanley dropped their target price on United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Argus lifted their price target on United Rentals from $840.00 to $880.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Robert W. Baird upgraded United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price target for the company in a research note on Tuesday, January 14th. Finally, Truist Financial reiterated a “buy” rating and issued a $956.00 price target (down from $963.00) on shares of United Rentals in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $829.00.

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.