Sumitomo Mitsui Trust Group Inc. Has $106.09 Million Stock Position in United Rentals, Inc. (NYSE:URI)

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 6.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 169,286 shares of the construction company's stock after selling 10,974 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.26% of United Rentals worth $106,092,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of URI. Oppenheimer Asset Management Inc. grew its position in United Rentals by 1.9% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 5,600 shares of the construction company's stock valued at $3,945,000 after purchasing an additional 103 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of United Rentals by 2.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 1,963 shares of the construction company's stock valued at $1,383,000 after buying an additional 46 shares during the period. Flputnam Investment Management Co. grew its holdings in shares of United Rentals by 1.9% during the 4th quarter. Flputnam Investment Management Co. now owns 9,682 shares of the construction company's stock valued at $6,820,000 after acquiring an additional 180 shares in the last quarter. SVB Wealth LLC acquired a new position in shares of United Rentals in the fourth quarter worth $5,383,000. Finally, Fisher Asset Management LLC raised its holdings in shares of United Rentals by 27.1% during the fourth quarter. Fisher Asset Management LLC now owns 55,460 shares of the construction company's stock worth $39,069,000 after acquiring an additional 11,810 shares in the last quarter. Hedge funds and other institutional investors own 96.26% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on URI. Redburn Atlantic lowered United Rentals from a "buy" rating to a "neutral" rating and set a $760.00 target price on the stock. in a research report on Friday, June 13th. Bank of America lowered their price target on United Rentals from $850.00 to $750.00 and set a "buy" rating for the company in a research note on Friday, March 21st. JPMorgan Chase & Co. raised their price objective on shares of United Rentals from $780.00 to $920.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. The Goldman Sachs Group lifted their target price on shares of United Rentals from $770.00 to $850.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Finally, Morgan Stanley upgraded shares of United Rentals from an "equal weight" rating to an "overweight" rating and set a $702.00 price target on the stock in a research note on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, United Rentals has an average rating of "Moderate Buy" and an average price target of $766.23.

Insider Buying and Selling at United Rentals

In other United Rentals news, VP Andrew B. Limoges sold 708 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $705.86, for a total value of $499,748.88. Following the completion of the transaction, the vice president now owns 1,921 shares of the company's stock, valued at $1,355,957.06. This represents a 26.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael D. Durand sold 1,100 shares of United Rentals stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $626.28, for a total value of $688,908.00. Following the sale, the executive vice president now directly owns 8,748 shares in the company, valued at $5,478,697.44. The trade was a 11.17% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.51% of the company's stock.

United Rentals Stock Up 1.6%

United Rentals stock opened at $754.03 on Monday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.85 and a quick ratio of 0.79. United Rentals, Inc. has a fifty-two week low of $525.91 and a fifty-two week high of $896.98. The firm has a fifty day moving average price of $688.57 and a two-hundred day moving average price of $681.77. The firm has a market cap of $49.01 billion, a price-to-earnings ratio of 19.52, a P/E/G ratio of 1.84 and a beta of 1.71.

United Rentals (NYSE:URI - Get Free Report) last released its earnings results on Wednesday, April 23rd. The construction company reported $8.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $8.92 by ($0.06). United Rentals had a net margin of 16.38% and a return on equity of 33.11%. The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same period last year, the business earned $9.15 EPS. The business's quarterly revenue was up 6.7% compared to the same quarter last year. As a group, analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Wednesday, May 14th. United Rentals's dividend payout ratio (DPR) is currently 18.54%.

About United Rentals

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.

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