Sumitomo Mitsui Trust Group Inc. lessened its position in United Rentals, Inc. (NYSE:URI - Free Report) by 11.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 143,886 shares of the construction company's stock after selling 17,838 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.23% of United Rentals worth $104,830,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Woodline Partners LP raised its position in United Rentals by 40.0% in 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 during the period. Sei Investments Co. boosted its position in shares of United Rentals by 24.7% during the second quarter. Sei Investments Co. now owns 27,136 shares of the construction company's stock valued at $20,444,000 after buying an additional 5,375 shares during the period. Treasurer of the State of North Carolina boosted its position in shares of United Rentals by 43.6% during the second quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company's stock valued at $42,233,000 after buying an additional 17,030 shares during the period. HUB Investment Partners LLC grew its stake in shares of United Rentals by 11.3% during the second quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company's stock valued at $1,661,000 after buying an additional 223 shares during the last quarter. Finally, Diversify Advisory Services LLC grew its stake in shares of United Rentals by 338.7% during the second quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company's stock valued at $1,246,000 after buying an additional 1,277 shares during the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.
United Rentals Trading Up 0.7%
Shares of NYSE URI traded up $8.02 during trading hours on Friday, reaching $1,096.69. The stock had a trading volume of 278,451 shares, compared to its average volume of 442,038. United Rentals, Inc. has a 52-week low of $701.59 and a 52-week high of $1,143.69. The firm has a market cap of $68.71 billion, a price-to-earnings ratio of 27.98, a P/E/G ratio of 1.74 and a beta of 1.79. The business's fifty day moving average price is $1,029.74 and its two-hundred day moving average price is $902.01. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37.
United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing the consensus estimate of $11.47 by ($1.76). The firm had revenue of $3.98 billion for the quarter, compared to analysts' expectations of $4.20 billion. United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The company's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.86 earnings per share. Analysts expect that United Rentals, Inc. will post 46.7 EPS for the current fiscal year.
United Rentals Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were paid a dividend of $1.97 per share. The ex-dividend date was Wednesday, May 13th. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. United Rentals's dividend payout ratio (DPR) is currently 20.10%.
Insider Transactions at United Rentals
In other United Rentals news, CEO Matthew John Flannery sold 22,768 shares of the stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $984.98, for a total transaction of $22,426,024.64. Following the transaction, the chief executive officer directly owned 99,980 shares in the company, valued at $98,478,300.40. This represents a 18.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Joli L. Gross sold 306 shares of the firm's stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $954.99, for a total transaction of $292,226.94. Following the transaction, the senior vice president directly owned 5,738 shares in the company, valued at $5,479,732.62. This trade represents a 5.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 26,088 shares of company stock valued at $25,628,877. Insiders own 0.47% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on the company. Bank of America raised their price target on United Rentals from $1,020.00 to $1,195.00 and gave the stock a "buy" rating in a research note on Thursday, June 25th. Raymond James Financial reaffirmed an "outperform" rating and issued a $1,275.00 price objective on shares of United Rentals in a research report on Wednesday, June 10th. KeyCorp increased their target price on United Rentals from $1,150.00 to $1,250.00 and gave the stock an "overweight" rating in a research note on Thursday, June 25th. Evercore reiterated an "outperform" rating and set a $1,101.00 target price on shares of United Rentals in a research report on Monday, May 11th. Finally, Weiss Ratings lowered shares of United Rentals from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday. Fourteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $1,124.69.
Read Our Latest Analysis on URI
United Rentals Company 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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