Nissay Asset Management Corp Japan lowered its holdings in United Rentals, Inc. (NYSE:URI – Free Report) by 19.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,658 shares of the construction company’s stock after selling 3,542 shares during the period. Nissay Asset Management Corp Japan’s holdings in United Rentals were worth $16,606,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of URI. Wellington Management Group LLP acquired a new position in shares of United Rentals in the 2nd quarter valued at approximately $806,796,000. BlackRock Inc. purchased a new position in shares of United Rentals during the 2nd quarter valued at approximately $5,816,326,000. Capital World Investors boosted its stake in shares of United Rentals by 1.1% during the 4th quarter. Capital World Investors now owns 2,708,877 shares of the construction company’s stock valued at $2,192,357,000 after buying an additional 30,263 shares during the last quarter. Franklin Resources Inc. grew its position in shares of United Rentals by 2.2% during the fourth quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company’s stock worth $1,087,711,000 after buying an additional 28,895 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of United Rentals during the fourth quarter worth approximately $978,017,000. Institutional investors and hedge funds own 96.26% of the company’s stock.
United Rentals Stock Performance
URI stock opened at $1,030.64 on Friday. The stock’s 50 day simple moving average is $1,097.31 and its 200 day simple moving average is $957.16. United Rentals, Inc. has a 12-month low of $701.59 and a 12-month high of $1,179.18. The firm has a market cap of $64.15 billion, a P/E ratio of 24.75, a P/E/G ratio of 1.33 and a beta of 1.80. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38.
United Rentals Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were given a $1.97 dividend. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Wednesday, August 12th. United Rentals’s dividend payout ratio (DPR) is presently 18.92%.
Insider Activity at United Rentals
In other news, EVP William E. Grace sold 1,500 shares of United Rentals stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the completion of the transaction, the executive vice president directly owned 6,062 shares of the company’s stock, valued at approximately $6,869,155.30. The trade was a 19.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.47% of the company’s stock.
Analysts Set New Price Targets
Several analysts recently issued reports on the stock. Argus reaffirmed a “buy” rating and issued a $1,250.00 price target on shares of United Rentals in a report on Tuesday, August 4th. Bank of America raised their price objective on shares of United Rentals from $1,195.00 to $1,300.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Truist Financial boosted their target price on shares of United Rentals from $1,421.00 to $1,466.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. UBS Group upped their target price on shares of United Rentals from $1,300.00 to $1,350.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Finally, Zacks Research raised shares of United Rentals from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,246.19.
United Rentals Company Profile
United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.
The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.
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