Scotia Capital Inc. Lowers Stake in United Rentals, Inc. $URI

Scotia Capital Inc. reduced its stake in shares of United Rentals, Inc. (NYSE:URI) by 23.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 3,274 shares of the construction company’s stock after selling 993 shares during the period. Scotia Capital Inc.’s holdings in United Rentals were worth $2,466,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in shares of United Rentals by 71.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,874,127 shares of the construction company’s stock worth $1,411,968,000 after purchasing an additional 780,322 shares in the last quarter. Nuveen LLC purchased a new position in shares of United Rentals during the 1st quarter valued at about $402,291,000. Boston Partners lifted its position in United Rentals by 74.5% in the 2nd quarter. Boston Partners now owns 715,250 shares of the construction company’s stock worth $542,526,000 after buying an additional 305,378 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in United Rentals during the second quarter valued at approximately $152,069,000. Finally, The Manufacturers Life Insurance Company grew its position in United Rentals by 28.8% during the first quarter. The Manufacturers Life Insurance Company now owns 849,786 shares of the construction company’s stock valued at $532,561,000 after acquiring an additional 190,007 shares during the last quarter. Institutional investors own 96.26% of the company’s stock.

United Rentals Price Performance

URI stock opened at $815.43 on Monday. The firm’s 50-day moving average price is $902.91 and its two-hundred day moving average price is $850.90. United Rentals, Inc. has a 12-month low of $525.91 and a 12-month high of $1,021.47. The stock has a market capitalization of $51.89 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 1.97 and a beta of 1.73. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 1.40.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, October 22nd. The construction company reported $11.70 earnings per share for the quarter, missing analysts’ consensus estimates of $12.43 by ($0.73). The firm had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.16 billion. United Rentals had a return on equity of 31.30% and a net margin of 15.83%.The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $11.80 earnings per share. United Rentals has set its FY 2025 guidance at EPS. As a group, equities analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th were issued a $1.79 dividend. The ex-dividend date was Wednesday, November 12th. This represents a $7.16 annualized dividend and a yield of 0.9%. United Rentals’s dividend payout ratio (DPR) is 18.42%.

Analyst Upgrades and Downgrades

URI has been the subject of a number of research reports. Robert W. Baird raised shares of United Rentals from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $888.00 to $1,050.00 in a research note on Wednesday, October 1st. JPMorgan Chase & Co. upped their price target on shares of United Rentals from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Monday, September 22nd. Argus set a $935.00 price objective on United Rentals in a research note on Tuesday, August 12th. Royal Bank Of Canada set a $1,123.00 price objective on United Rentals in a report on Friday, October 24th. Finally, Citigroup reissued a “buy” rating on shares of United Rentals in a research note on Thursday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, United Rentals presently has a consensus rating of “Moderate Buy” and an average target price of $975.61.

United Rentals 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.