Dai ichi Life Insurance Company Ltd Sells 4,134 Shares of United Rentals, Inc. $URI

Key Points

• Dai ichi Life Insurance cut its United Rentals stake by 51.4% in the first quarter, selling 4,134 shares and leaving it with 3,906 shares worth about $2.85 million.
• United Rentals posted strong Q2 results, with EPS of $12.76 and revenue of $4.41 billion both beating estimates, and it raised full-year guidance on better rental growth and demand.
• Analyst sentiment remains bullish, with multiple firms raising price targets and 15 analysts rating the stock a Buy; the consensus price target is $1,226.50.

Dai ichi Life Insurance Company Ltd lessened its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 51.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,906 shares of the construction company's stock after selling 4,134 shares during the quarter. Dai ichi Life Insurance Company Ltd's holdings in United Rentals were worth $2,846,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Core Wealth Advisors LLC acquired a new stake in shares of United Rentals in the fourth quarter valued at approximately $28,000. MV Capital Management Inc. acquired a new position in shares of United Rentals during the 4th quarter worth approximately $28,000. Laurel Wealth Advisors LLC bought a new stake in United Rentals in the 4th quarter valued at $32,000. Fortitude Family Office LLC raised its stake in United Rentals by 121.1% in the 4th quarter. Fortitude Family Office LLC now owns 42 shares of the construction company's stock valued at $34,000 after acquiring an additional 23 shares during the period. Finally, Hilton Head Capital Partners LLC acquired a new stake in United Rentals during the 4th quarter valued at $34,000. Institutional investors own 96.26% of the company's stock.

Insider Activity at United Rentals

In related news, SVP Joli L. Gross sold 306 shares of the business's stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $954.99, for a total value of $292,226.94. Following the completion of the sale, the senior vice president directly owned 5,738 shares in the company, valued at approximately $5,479,732.62. The trade was a 5.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Craig Adam Pintoff sold 2,466 shares of the firm's stock in a transaction on Monday, April 27th. The stock was sold at an average price of $963.00, for a total value of $2,374,758.00. Following the transaction, the executive vice president owned 14,774 shares in the company, valued at approximately $14,227,362. This trade represents a 14.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.47% of the company's stock.

United Rentals News Roundup

Here are the key news stories impacting United Rentals this week:

• Positive Sentiment: JPMorgan raised its price target on United Rentals to $1,235 and kept an overweight rating, signaling confidence in continued upside. JPMorgan price target increase
• Positive Sentiment: Truist boosted its target to $1,466 and maintained a buy rating, reflecting a more optimistic view of URI’s earnings power and demand trends. Truist price target increase
• Positive Sentiment: Citigroup raised its target to $1,330 with a buy rating after the company’s strong Q2 results and improved guidance. Citigroup price target increase
• Positive Sentiment: Bank of America increased its target to $1,300 and reiterated a buy rating, adding to the positive analyst momentum around the stock. Bank of America price target increase
• Positive Sentiment: United Rentals reported Q2 earnings of $12.76 per share and revenue of $4.41 billion, both ahead of expectations, and raised full-year guidance on stronger rental growth and demand. Q2 earnings beat and guidance raise
• Neutral Sentiment: The company also declared a quarterly dividend of $1.97 per share, which is a modest shareholder-return update but not likely the main driver of today’s trading. Dividend announcement

United Rentals Trading Up 0.0%

URI stock opened at $1,140.19 on Friday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.74 and a current ratio of 0.76. The company's 50-day simple moving average is $1,052.87 and its 200 day simple moving average is $919.10. United Rentals, Inc. has a 52 week low of $701.59 and a 52 week high of $1,177.67. The company has a market capitalization of $70.97 billion, a PE ratio of 27.38, a price-to-earnings-growth ratio of 1.82 and a beta of 1.79.

United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, topping the consensus estimate of $11.53 by $1.23. The business had revenue of $4.41 billion during the quarter, compared to analysts' expectations of $4.22 billion. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The business's revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $10.47 EPS. As a group, sell-side analysts anticipate that United Rentals, Inc. will post 47.32 earnings per share for the current year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be given a $1.97 dividend. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, August 12th. United Rentals's payout ratio is presently 18.92%.

Analyst Ratings Changes

A number of research firms have commented on URI. Royal Bank Of Canada lifted their price objective on shares of United Rentals from $1,041.00 to $1,119.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Weiss Ratings upgraded shares of United Rentals from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday. Wall Street Zen raised shares of United Rentals from a "hold" rating to a "buy" rating in a report on Saturday. Sanford C. Bernstein set a $903.00 price target on shares of United Rentals and gave the company an "outperform" rating in a research note on Thursday, April 9th. Finally, Truist Financial increased their price target on shares of United Rentals from $1,421.00 to $1,466.00 and gave the company a "buy" rating in a report on Friday. Fifteen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, United Rentals presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,226.50.

United Rentals 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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