Sumitomo Mitsui DS Asset Management Company Ltd Raises Holdings in United Rentals, Inc. (NYSE:URI)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of United Rentals, Inc. (NYSE:URI) by 5.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,217 shares of the construction company’s stock after purchasing an additional 382 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in United Rentals were worth $5,844,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Park Avenue Securities LLC lifted its holdings in United Rentals by 3.2% during the 1st quarter. Park Avenue Securities LLC now owns 1,768 shares of the construction company’s stock worth $1,275,000 after buying an additional 54 shares during the last quarter. RFG Advisory LLC grew its holdings in United Rentals by 40.9% in the first quarter. RFG Advisory LLC now owns 1,470 shares of the construction company’s stock valued at $1,060,000 after purchasing an additional 427 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in shares of United Rentals by 0.7% during the 1st quarter. Gulf International Bank UK Ltd now owns 5,674 shares of the construction company’s stock worth $4,091,000 after purchasing an additional 40 shares in the last quarter. International Assets Investment Management LLC raised its stake in United Rentals by 10.7% in the 1st quarter. International Assets Investment Management LLC now owns 2,013 shares of the construction company’s stock valued at $1,430,000 after purchasing an additional 194 shares during the last quarter. Finally, Ballentine Partners LLC lifted its stake in shares of United Rentals by 17.5% during the first quarter. Ballentine Partners LLC now owns 1,045 shares of the construction company’s stock valued at $754,000 after buying an additional 156 shares during the period. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insider Transactions at United Rentals

In other United Rentals news, SVP Joli L. Gross sold 360 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $690.00, for a total transaction of $248,400.00. Following the sale, the senior vice president now directly owns 4,090 shares in the company, valued at $2,822,100. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on URI shares. Robert W. Baird upped their price target on United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. lifted their price objective on shares of United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Citigroup boosted their price objective on United Rentals from $860.00 to $930.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. The Goldman Sachs Group upped their target price on United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Truist Financial boosted their target price on United Rentals from $873.00 to $954.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, United Rentals presently has an average rating of “Hold” and an average price target of $714.92.

United Rentals Stock Performance

URI opened at $839.27 on Friday. The business’s 50-day moving average price is $760.25 and its two-hundred day moving average price is $703.75. United Rentals, Inc. has a 1 year low of $387.01 and a 1 year high of $861.74. The company has a market capitalization of $55.89 billion, a price-to-earnings ratio of 22.73, a P/E/G ratio of 1.94 and a beta of 1.68. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.81 and a quick ratio of 0.76.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, July 24th. The construction company reported $10.70 EPS for the quarter, beating the consensus estimate of $10.48 by $0.22. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the prior year, the firm posted $9.88 earnings per share. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. Equities analysts expect that United Rentals, Inc. will post 44.39 EPS for the current fiscal year.

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were paid a dividend of $1.63 per share. The ex-dividend date was Wednesday, August 14th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.78%. United Rentals’s dividend payout ratio (DPR) is currently 17.66%.

United Rentals Company Profile

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.