Taikang Asset Management Hong Kong Co Ltd Buys 3,082 Shares of United Rentals, Inc. $URI

Key Points

• Taikang Asset Management Hong Kong increased its stake in United Rentals by 33% in the fourth quarter, buying 3,082 additional shares and lifting its holding to 12,433 shares valued at about $10.1 million.
• United Rentals shares were down 1.3% in the session cited, but the stock remained near the top of its range, with a market cap of $67.0 billion and a 52-week high of $1,106.88.
• The company reported weaker-than-expected quarterly results, posting EPS of $9.71 versus the $11.47 estimate and revenue of $3.99 billion versus $4.20 billion expected, even though revenue still rose 7.2% year over year.

Taikang Asset Management Hong Kong Co Ltd raised its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 33.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,433 shares of the construction company's stock after buying an additional 3,082 shares during the quarter. United Rentals comprises 1.0% of Taikang Asset Management Hong Kong Co Ltd's portfolio, making the stock its 29th largest holding. Taikang Asset Management Hong Kong Co Ltd's holdings in United Rentals were worth $10,062,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Beacon Investment Advisory Services Inc. boosted its position in shares of United Rentals by 1,358.7% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 8,227 shares of the construction company's stock valued at $6,658,000 after acquiring an additional 7,663 shares during the last quarter. Nordea Investment Management AB grew its position in United Rentals by 22.7% during the fourth quarter. Nordea Investment Management AB now owns 154,688 shares of the construction company's stock valued at $126,362,000 after acquiring an additional 28,604 shares during the last quarter. TD Asset Management Inc raised its stake in shares of United Rentals by 66.5% during the third quarter. TD Asset Management Inc now owns 484,450 shares of the construction company's stock worth $462,485,000 after acquiring an additional 193,416 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of United Rentals by 18.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,756 shares of the construction company's stock worth $9,514,000 after acquiring an additional 1,846 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of United Rentals by 1.4% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 367,814 shares of the construction company's stock valued at $351,128,000 after purchasing an additional 5,115 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors.

United Rentals Stock Down 1.3%

Shares of NYSE:URI opened at $1,070.14 on Wednesday. The stock's 50-day moving average is $934.20 and its 200 day moving average is $866.30. The company has a market cap of $67.04 billion, a PE ratio of 27.30, a P/E/G ratio of 1.71 and a beta of 1.81. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.74. United Rentals, Inc. has a 1 year low of $685.04 and a 1 year high of $1,106.88.

United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing analysts' consensus estimates of $11.47 by ($1.76). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.20 billion. During the same quarter in the prior year, the business posted $8.86 earnings per share. United Rentals's quarterly revenue was up 7.2% compared to the same quarter last year. Sell-side analysts anticipate that United Rentals, Inc. will post 47.26 EPS for the current year.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were given a dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, May 13th. United Rentals's payout ratio is presently 20.10%.

Insider Activity at United Rentals

In related news, CEO Matthew John Flannery sold 22,768 shares of United Rentals stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $984.98, for a total transaction of $22,426,024.64. Following the sale, the chief executive officer directly owned 99,980 shares in the company, valued at $98,478,300.40. The trade was a 18.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Craig Adam Pintoff sold 2,466 shares of the company's stock in a transaction dated Monday, April 27th. The stock was 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 directly owned 14,774 shares in the company, valued at $14,227,362. This represents a 14.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 26,088 shares of company stock valued at $25,628,877 over the last quarter. Company insiders own 0.47% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on URI shares. Truist Financial set a $1,209.00 target price on shares of United Rentals in a report on Friday, April 24th. Barclays upped their price target on shares of United Rentals from $600.00 to $715.00 and gave the company an "underweight" rating in a research report on Friday, April 24th. Raymond James Financial reaffirmed an "outperform" rating and set a $1,275.00 price objective on shares of United Rentals in a research note on Wednesday, June 10th. UBS Group lifted their price objective on United Rentals from $1,025.00 to $1,145.00 and gave the stock a "buy" rating in a report on Wednesday, June 3rd. Finally, Robert W. Baird boosted their target price on United Rentals from $970.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. Thirteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,045.81.

United Rentals Profile

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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