Daiwa Securities Group Inc. Sells 4,703 Shares of United Rentals, Inc. $URI

Key Points

• Daiwa Securities Group Inc. cut its United Rentals stake by 18.3% in the fourth quarter, selling 4,703 shares and leaving it with 21,035 shares valued at about $17.0 million.
• Insider selling was also notable, with VP Andrew B. Limoges and EVP Craig Adam Pintoff both reducing their holdings; insiders sold 26,088 shares worth roughly $25.6 million over the last quarter.
• Analysts remain broadly positive on URI, with 12 Buy ratings and a consensus “Moderate Buy” rating, even as the company recently reported EPS and revenue below expectations for the quarter.

Daiwa Securities Group Inc. lessened its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 18.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,035 shares of the construction company's stock after selling 4,703 shares during the period. Daiwa Securities Group Inc.'s holdings in United Rentals were worth $17,024,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in URI. Woodline Partners LP increased its holdings in United Rentals by 40.0% during the 1st quarter. Woodline Partners LP now owns 5,518 shares of the construction company's stock worth $3,458,000 after purchasing an additional 1,577 shares in the last quarter. Sei Investments Co. increased its holdings in United Rentals by 24.7% during the 2nd quarter. Sei Investments Co. now owns 27,136 shares of the construction company's stock worth $20,444,000 after purchasing an additional 5,375 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in United Rentals by 43.6% during the 2nd quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company's stock worth $42,233,000 after purchasing an additional 17,030 shares in the last quarter. HUB Investment Partners LLC increased its holdings in United Rentals by 11.3% during the 2nd quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company's stock worth $1,661,000 after purchasing an additional 223 shares in the last quarter. Finally, Diversify Advisory Services LLC increased its holdings in United Rentals by 338.7% during the 2nd quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company's stock worth $1,246,000 after purchasing an additional 1,277 shares in the last quarter. Institutional investors own 96.26% of the company's stock.

Insider Activity

In related news, VP Andrew B. Limoges sold 548 shares of the firm's stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $977.86, for a total value of $535,867.28. Following the completion of the sale, the vice president directly owned 1,865 shares in the company, valued at approximately $1,823,708.90. This trade represents a 22.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Craig Adam Pintoff sold 2,466 shares of the firm's stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the completion of the sale, the executive vice president owned 14,774 shares of the company's stock, valued at $14,227,362. This trade represents a 14.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 26,088 shares of company stock valued at $25,628,877. Company insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

URI has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on shares of United Rentals from $850.00 to $1,050.00 and gave the stock an "overweight" rating in a research note on Friday, April 24th. Weiss Ratings upgraded shares of United Rentals from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, May 18th. Morgan Stanley restated an "overweight" rating and set a $1,030.00 price objective on shares of United Rentals in a research note on Friday, April 24th. Robert W. Baird increased their price objective on shares of United Rentals from $970.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Friday, April 24th. Finally, Barclays increased their price objective on shares of United Rentals from $600.00 to $715.00 and gave the stock an "underweight" rating in a research note on Friday, April 24th. Twelve analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, United Rentals presently has a consensus rating of "Moderate Buy" and an average target price of $1,013.63.

United Rentals Trading Down 1.6%

United Rentals stock opened at $1,067.62 on Friday. The firm has a 50-day moving average of $885.82 and a 200-day moving average of $852.39. United Rentals, Inc. has a one year low of $682.08 and a one year high of $1,091.23. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.74. The company has a market cap of $66.89 billion, a price-to-earnings ratio of 27.24, a P/E/G ratio of 1.72 and a beta of 1.81.

United Rentals (NYSE:URI - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.47 by ($1.76). United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.20 billion. During the same quarter last year, the business posted $8.86 earnings per share. The company's revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities analysts expect that United Rentals, Inc. will post 47.07 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were paid a $1.97 dividend. This represents a $7.88 annualized dividend and a yield of 0.7%. The ex-dividend date was Wednesday, May 13th. United Rentals's dividend payout ratio (DPR) is 20.10%.

About United Rentals

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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