Scotia Capital Inc. Sells 2,115 Shares of United Rentals, Inc. (NYSE:URI)

Scotia Capital Inc. reduced its holdings in shares of United Rentals, Inc. (NYSE:URI) by 27.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,574 shares of the construction company’s stock after selling 2,115 shares during the quarter. Scotia Capital Inc.’s holdings in United Rentals were worth $3,927,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Norges Bank bought a new stake in shares of United Rentals during the fourth quarter worth $695,716,000. Proficio Capital Partners LLC acquired a new stake in shares of United Rentals during the 4th quarter valued at $171,733,000. Raymond James Financial Inc. bought a new stake in United Rentals during the 4th quarter worth $164,493,000. Alliancebernstein L.P. increased its holdings in United Rentals by 16.0% in the 4th quarter. Alliancebernstein L.P. now owns 1,250,324 shares of the construction company’s stock worth $880,778,000 after purchasing an additional 172,340 shares in the last quarter. Finally, TD Asset Management Inc. raised its position in United Rentals by 207.8% in the fourth quarter. TD Asset Management Inc. now owns 234,366 shares of the construction company’s stock valued at $165,097,000 after purchasing an additional 158,214 shares during the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Citigroup reduced their price target on United Rentals from $720.00 to $650.00 and set a “buy” rating on the stock in a report on Tuesday. Morgan Stanley reduced their target price on shares of United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Robert W. Baird upgraded shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price target for the company in a research report on Tuesday, January 14th. Evercore ISI cut their price target on shares of United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Finally, Sanford C. Bernstein upgraded United Rentals from an “underperform” rating to a “market perform” rating and decreased their price objective for the company from $705.00 to $666.00 in a report on Tuesday, March 25th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $752.14.

Insider Activity at United Rentals

In related news, CFO William E. Grace sold 1,100 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $638.10, for a total value of $701,910.00. Following the transaction, the chief financial officer now owns 6,880 shares of the company’s stock, valued at approximately $4,390,128. This trade represents a 13.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.51% of the stock is currently owned by insiders.

United Rentals Stock Performance

Shares of URI stock opened at $581.57 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. United Rentals, Inc. has a 52 week low of $525.91 and a 52 week high of $896.98. The firm has a 50 day moving average of $644.29 and a 200-day moving average of $740.61. The company has a market cap of $38.00 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 1.43 and a beta of 1.72.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, January 29th. The construction company reported $11.59 earnings per share for the quarter, missing the consensus estimate of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. On average, equities analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a $1.79 dividend. This is a boost from United Rentals’s previous quarterly dividend of $1.63. This represents a $7.16 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Wednesday, February 12th. United Rentals’s dividend payout ratio (DPR) is currently 18.48%.

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.