United Rentals, Inc. $URI Stock: Asset Management One Co. Ltd. Grows Position

Key Points

• Asset Management One increased its United Rentals position by 19.4% in the third quarter, bringing its holdings to 43,137 shares valued at approximately $43.2 million. Institutional investors collectively own 96.26% of the company.
• United Rentals exceeded quarterly expectations, reporting $15.55 in EPS and $4.89 billion in revenue, with revenue rising 15.7% year over year. Analysts expect $50.83 in full-year EPS.
• The company declared a quarterly dividend of $1.97, equivalent to a $7.88 annualized payout and a 0.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $1,288.19.

Asset Management One Co. Ltd. grew its holdings in United Rentals, Inc. (NYSE:URI - Free Report) by 19.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 43,137 shares of the construction company's stock after acquiring an additional 7,017 shares during the quarter. Asset Management One Co. Ltd. owned about 0.07% of United Rentals worth $43,171,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in URI. SFE Investment Counsel acquired a new position in United Rentals in the second quarter valued at $12,765,000. Bank of America Corp DE purchased a new position in shares of United Rentals during the second quarter worth about $944,196,000. Geneos Wealth Management Inc. increased its position in shares of United Rentals by 9.7% during the first quarter. Geneos Wealth Management Inc. now owns 10,782 shares of the construction company's stock worth $7,855,000 after purchasing an additional 950 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of United Rentals by 9.8% during the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 26,447 shares of the construction company's stock worth $19,240,000 after purchasing an additional 2,350 shares in the last quarter. Finally, Nwam LLC acquired a new stake in shares of United Rentals during the second quarter worth about $2,346,000. Institutional investors and hedge funds own 96.26% of the company's stock.

United Rentals Price Performance

Shares of URI opened at $1,175.79 on Thursday. United Rentals, Inc. has a fifty-two week low of $701.59 and a fifty-two week high of $1,189.01. The company has a market capitalization of $72.80 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 1.59 and a beta of 1.83. The firm has a 50-day simple moving average of $1,046.03 and a 200-day simple moving average of $968.32. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.73 and a current ratio of 0.80.

United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The construction company reported $15.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $13.97 by $1.58. The firm had revenue of $4.89 billion for the quarter, compared to analysts' expectations of $4.71 billion. United Rentals had a return on equity of 33.47% and a net margin of 16.33%. The firm's revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $11.70 EPS. On average, equities research analysts anticipate that United Rentals, Inc. will post 50.83 earnings per share for the current year.

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Wednesday, November 11th will be paid a $1.97 dividend. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, November 10th. United Rentals's dividend payout ratio (DPR) is 17.32%.

Analysts Set New Price Targets

A number of analysts recently issued reports on URI shares. Truist Financial upped their target price on United Rentals from $1,395.00 to $1,450.00 and gave the company a "buy" rating in a research report on Friday, October 23rd. Wall Street Zen raised United Rentals from a "hold" rating to a "buy" rating in a research report on Saturday, October 10th. Weiss Ratings reiterated a "buy (b-)" rating on shares of United Rentals in a research note on Wednesday, October 21st. Barclays boosted their price objective on United Rentals from $715.00 to $950.00 and gave the company an "underweight" rating in a research note on Friday, July 24th. Finally, Wells Fargo & Company increased their price objective on United Rentals from $1,245.00 to $1,355.00 and gave the company an "overweight" rating in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,288.19.

United Rentals Company Profile

United Rentals, Inc is an equipment rental company serving construction, industrial, infrastructure, utilities, government and other commercial customers. The company provides access to equipment and related services through a network of rental locations, helping customers manage projects without purchasing and maintaining all of the equipment they need.

Its rental fleet includes aerial work platforms, earthmoving equipment, material-handling equipment, general construction tools, trucks and trailers, and light-duty equipment.

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