Sumitomo Mitsui DS Asset Management Company Ltd Acquires 382 Shares of United Rentals, Inc. (NYSE:URI)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of United Rentals, Inc. (NYSE:URI) by 5.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,217 shares of the construction company’s stock after buying an additional 382 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in United Rentals were worth $5,844,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Park Avenue Securities LLC increased its holdings in United Rentals by 3.2% during the first quarter. Park Avenue Securities LLC now owns 1,768 shares of the construction company’s stock worth $1,275,000 after buying an additional 54 shares during the last quarter. RFG Advisory LLC raised its stake in shares of United Rentals by 40.9% during the 1st quarter. RFG Advisory LLC now owns 1,470 shares of the construction company’s stock valued at $1,060,000 after purchasing an additional 427 shares during the period. Gulf International Bank UK Ltd lifted its holdings in United Rentals by 0.7% during the 1st quarter. Gulf International Bank UK Ltd now owns 5,674 shares of the construction company’s stock worth $4,091,000 after purchasing an additional 40 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of United Rentals by 10.7% during the first quarter. International Assets Investment Management LLC now owns 2,013 shares of the construction company’s stock valued at $1,430,000 after buying an additional 194 shares during the period. Finally, Ballentine Partners LLC grew its position in shares of United Rentals by 17.5% during the 1st quarter. Ballentine Partners LLC now owns 1,045 shares of the construction company’s stock valued at $754,000 after purchasing an additional 156 shares in the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

URI has been the subject of several recent analyst reports. Truist Financial boosted their price objective on United Rentals from $873.00 to $954.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. The Goldman Sachs Group raised their price target on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Robert W. Baird lifted their price target on shares of United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research note on Thursday, October 3rd. Raymond James initiated coverage on shares of United Rentals in a research report on Friday, June 28th. They set an “outperform” rating and a $750.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their target price on United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $714.92.

United Rentals Trading Down 0.2 %

Shares of URI opened at $839.27 on Friday. The firm has a market cap of $55.89 billion, a P/E ratio of 22.73, a price-to-earnings-growth ratio of 1.94 and a beta of 1.68. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.81 and a quick ratio of 0.76. United Rentals, Inc. has a 1 year low of $387.01 and a 1 year high of $861.74. The company has a 50 day simple moving average of $760.25 and a two-hundred day simple moving average of $703.75.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, July 24th. The construction company reported $10.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.48 by $0.22. The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.77 billion. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business posted $9.88 earnings per share. On average, equities analysts expect that United Rentals, Inc. will post 44.39 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were paid a dividend of $1.63 per share. The ex-dividend date was Wednesday, August 14th. This represents a $6.52 annualized dividend and a dividend yield of 0.78%. United Rentals’s dividend payout ratio is currently 17.66%.

Insider Activity at United Rentals

In other United Rentals news, SVP Joli L. Gross sold 360 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $690.00, for a total value of $248,400.00. Following the completion of the sale, the senior vice president now directly owns 4,090 shares in the company, valued at approximately $2,822,100. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

United Rentals Company 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.