Taikang Asset Management Hong Kong Co Ltd Purchases 11,747 Shares of United Rentals, Inc. $URI

Key Points

• Taikang Asset Management Hong Kong Co Ltd significantly increased its stake in United Rentals, Inc. by 833.7% in the first quarter, now owning 13,156 shares valued at approximately $8.25 million.
• Other institutional investors, including Kayne Anderson Rudnick and British Columbia Investment Management Corp, also raised their holdings in United Rentals, contributing to institutions owning 96.26% of the company's stock.
• United Rentals announced a $1.79 quarterly dividend with an annualized yield of 0.8%, while analysts have set a consensus price target of $834.64 following several upgrades.

Taikang Asset Management Hong Kong Co Ltd increased its position in United Rentals, Inc. (NYSE:URI - Free Report) by 833.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,156 shares of the construction company's stock after buying an additional 11,747 shares during the quarter. United Rentals comprises approximately 1.1% of Taikang Asset Management Hong Kong Co Ltd's holdings, making the stock its 21st largest position. Taikang Asset Management Hong Kong Co Ltd's holdings in United Rentals were worth $8,245,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Fourth Dimension Wealth LLC acquired a new stake in shares of United Rentals in the first quarter valued at $26,000. TruNorth Capital Management LLC raised its position in shares of United Rentals by 1,266.7% during the first quarter. TruNorth Capital Management LLC now owns 41 shares of the construction company's stock worth $26,000 after purchasing an additional 38 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of United Rentals by 69.0% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 49 shares of the construction company's stock worth $31,000 after purchasing an additional 20 shares during the period. Grove Bank & Trust acquired a new stake in shares of United Rentals during the first quarter worth $36,000. Finally, NBC Securities Inc. acquired a new stake in shares of United Rentals during the first quarter worth $40,000. Institutional investors and hedge funds own 96.26% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on URI shares. 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. The Goldman Sachs Group upped their price target on United Rentals from $770.00 to $850.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. JPMorgan Chase & Co. increased their price objective on United Rentals from $920.00 to $950.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. UBS Group lifted their target price on United Rentals from $780.00 to $835.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Finally, Bank of America increased their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $842.86.

United Rentals Stock Up 0.3%

URI stock traded up $2.54 during trading hours on Friday, hitting $957.78. The company's stock had a trading volume of 507,909 shares, compared to its average volume of 642,215. The stock has a 50 day moving average price of $841.69 and a two-hundred day moving average price of $719.42. United Rentals, Inc. has a 12 month low of $525.91 and a 12 month high of $961.16. The company has a market capitalization of $61.62 billion, a PE ratio of 24.77, a price-to-earnings-growth ratio of 2.19 and a beta of 1.72. The company has a quick ratio of 0.80, a current ratio of 0.86 and a debt-to-equity ratio of 1.34.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The construction company reported $10.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.54 by ($0.07). The business had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.90 billion. United Rentals had a net margin of 16.11% and a return on equity of 32.01%. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $10.70 EPS. United Rentals has set its FY 2025 guidance at EPS. On average, equities research analysts expect that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th were issued a $1.79 dividend. The ex-dividend date was Wednesday, August 13th. This represents a $7.16 dividend on an annualized basis and a yield of 0.7%. United Rentals's dividend payout ratio is currently 18.52%.

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.