Mitsubishi UFJ Asset Management Co. Ltd. Raises Stock Holdings in United Rentals, Inc. (NYSE:URI)

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of United Rentals, Inc. (NYSE:URI) by 7.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 105,045 shares of the construction company’s stock after buying an additional 7,465 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in United Rentals were worth $73,039,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Rialto Wealth Management LLC bought a new stake in United Rentals during the fourth quarter worth about $25,000. ORG Wealth Partners LLC purchased a new position in shares of United Rentals during the fourth quarter valued at approximately $26,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of United Rentals in the 4th quarter worth approximately $27,000. Hanson & Doremus Investment Management bought a new stake in shares of United Rentals in the 4th quarter worth approximately $33,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of United Rentals in the 4th quarter worth approximately $34,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Price Performance

Shares of United Rentals stock opened at $627.10 on Friday. The stock has a market cap of $40.95 billion, a P/E ratio of 16.18, a P/E/G ratio of 1.43 and a beta of 1.76. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.92 and a current ratio of 0.98. The stock’s fifty day moving average is $686.97 and its 200 day moving average is $754.58. United Rentals, Inc. has a one year low of $585.27 and a one year high of $896.98.

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

United Rentals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given a $1.79 dividend. This is a positive change 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 1.14%. The ex-dividend date of this dividend was Wednesday, February 12th. United Rentals’s dividend payout ratio is presently 18.48%.

Insider Activity

In other United Rentals news, CFO William E. Grace sold 1,100 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $638.10, for a total value of $701,910.00. Following the completion of the sale, the chief financial officer now owns 6,880 shares in the company, valued at approximately $4,390,128. This represents a 13.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on URI shares. 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 report on Wednesday, February 19th. Truist Financial reissued a “buy” rating and set a $956.00 price objective (down from $963.00) on shares of United Rentals in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on shares of United Rentals from $940.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Morgan Stanley reduced their price target on shares of United Rentals from $775.00 to $765.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Finally, Bank of America lowered their price objective on United Rentals from $850.00 to $750.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $804.15.

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.