Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 153,769 shares of the construction company's stock, valued at approximately $174,203,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.25% of United Rentals at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Core Wealth Advisors LLC bought a new position in United Rentals in the 4th quarter valued at approximately $28,000. MV Capital Management Inc. acquired a new position in shares of United Rentals during the fourth quarter worth $28,000. Laurel Wealth Advisors LLC bought a new position in shares of United Rentals in the 4th quarter valued at $32,000. Hilton Head Capital Partners LLC bought a new position in United Rentals in the 4th quarter valued at approximately $34,000. Finally, Bell Investment Advisors Inc bought a new position in shares of United Rentals during the second quarter valued at $40,000. Institutional investors and hedge funds own 96.26% of the company's stock.
United Rentals Price Performance
Shares of NYSE:URI opened at $1,166.11 on Tuesday. The firm's 50 day moving average price is $1,096.63 and its 200-day moving average price is $942.44. United Rentals, Inc. has a twelve month low of $701.59 and a twelve month high of $1,179.18. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $72.58 billion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 1.49 and a beta of 1.80.
United Rentals (NYSE:URI - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, beating the consensus estimate of $11.53 by $1.23. The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The company's revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.47 earnings per share. Equities research analysts expect that United Rentals, Inc. will post 48.55 EPS for the current year.
United Rentals Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be paid a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, August 12th. United Rentals's dividend payout ratio is presently 18.92%.
Insider Activity at United Rentals
In other news, EVP William E. Grace sold 1,500 shares of the firm's stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the sale, the executive vice president directly owned 6,062 shares in the company, valued at $6,869,155.30. This trade represents a 19.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the stock. Evercore reiterated an "outperform" rating and set a $1,101.00 price objective on shares of United Rentals in a research report on Monday, May 11th. UBS Group lifted their price objective 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. Citigroup increased their target price on shares of United Rentals from $1,270.00 to $1,330.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Royal Bank Of Canada raised their price target on shares of United Rentals from $1,041.00 to $1,119.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Finally, Wall Street Zen raised shares of United Rentals from a "hold" rating to a "buy" rating in a research report on Saturday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,246.19.
Check Out Our Latest Stock Report on URI
United Rentals Profile
(
Free Report)
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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