Mitsubishi UFJ Asset Management Co. Ltd. Purchases 10,723 Shares of United Rentals, Inc. (NYSE:URI)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in United Rentals, Inc. by 10.2%, acquiring an additional 10,723 shares and now holds 115,768 shares valued at approximately $72.55 million.
• JPMorgan Chase & Co. raised its target price for United Rentals from $920 to $950, while other analysts have provided a mix of ratings, contributing to an average price target of $830.71.
• United Rentals recently announced a quarterly dividend of $1.79 per share, reflecting an annual yield of 0.8% and a payout ratio of 18.52%.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in United Rentals, Inc. (NYSE:URI - Free Report) by 10.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 115,768 shares of the construction company's stock after purchasing an additional 10,723 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.18% of United Rentals worth $72,552,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fourth Dimension Wealth LLC acquired a new stake in shares of United Rentals in the first quarter worth $26,000. TruNorth Capital Management LLC raised its position in United Rentals by 1,266.7% during the first quarter. TruNorth Capital Management LLC now owns 41 shares of the construction company's stock valued at $26,000 after buying an additional 38 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its stake in United Rentals by 69.0% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 49 shares of the construction company's stock worth $31,000 after acquiring an additional 20 shares in the last quarter. Grove Bank & Trust acquired a new stake in United Rentals during the 1st quarter worth about $36,000. Finally, NBC Securities Inc. acquired a new stake in United Rentals during the 1st quarter worth about $40,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other United Rentals news, VP Andrew B. Limoges sold 708 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $705.86, for a total value of $499,748.88. Following the sale, the vice president owned 1,921 shares of the company's stock, valued at $1,355,957.06. The trade was a 26.93% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.51% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on URI. Truist Financial upped their target price on United Rentals from $786.00 to $952.00 and gave the company a "buy" rating in a report on Friday, July 25th. Robert W. Baird upped their price objective on shares of United Rentals from $535.00 to $571.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Bank of America increased their target price on shares of United Rentals from $895.00 to $900.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. boosted their price target on shares of United Rentals from $920.00 to $950.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Finally, Morgan Stanley increased their price objective on United Rentals from $702.00 to $955.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, United Rentals has a consensus rating of "Moderate Buy" and a consensus target price of $830.71.

United Rentals Stock Performance

Shares of URI stock traded up $4.38 during trading on Friday, reaching $858.99. The company had a trading volume of 273,017 shares, compared to its average volume of 649,962. The firm's 50 day simple moving average is $780.39 and its two-hundred day simple moving average is $702.84. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.86 and a quick ratio of 0.80. United Rentals, Inc. has a one year low of $525.91 and a one year high of $903.60. The company has a market capitalization of $55.27 billion, a PE ratio of 22.21, a PEG ratio of 1.98 and a beta of 1.72.

United Rentals (NYSE:URI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The construction company reported $10.47 earnings per share for the quarter, missing the consensus estimate of $10.54 by ($0.07). The business had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.90 billion. United Rentals had a return on equity of 32.01% and a net margin of 16.11%. United Rentals's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm posted $10.70 EPS. Sell-side analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th will be given a dividend of $1.79 per share. The ex-dividend date is Wednesday, August 13th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 0.8%. United Rentals's payout ratio is currently 18.52%.

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.