Sumitomo Mitsui Trust Holdings Inc. Lowers Stock Holdings in United Rentals, Inc. (NYSE:URI)

Sumitomo Mitsui Trust Holdings Inc. lowered its holdings in United Rentals, Inc. (NYSE:URI) by 2.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 199,730 shares of the construction company’s stock after selling 6,070 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in United Rentals were worth $114,529,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in URI. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of United Rentals by 7,691.1% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,506 shares of the construction company’s stock valued at $1,245,000 after purchasing an additional 3,461 shares during the period. Raymond James Trust N.A. grew its position in United Rentals by 14.6% during the first quarter. Raymond James Trust N.A. now owns 2,296 shares of the construction company’s stock valued at $815,000 after acquiring an additional 293 shares during the period. Cibc World Market Inc. grew its position in United Rentals by 16.8% during the first quarter. Cibc World Market Inc. now owns 7,941 shares of the construction company’s stock valued at $2,821,000 after acquiring an additional 1,140 shares during the period. Sei Investments Co. grew its position in United Rentals by 50.1% during the first quarter. Sei Investments Co. now owns 1,914 shares of the construction company’s stock valued at $678,000 after acquiring an additional 639 shares during the period. Finally, Prudential PLC purchased a new stake in United Rentals during the first quarter valued at about $560,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Trading Down 1.6 %

NYSE:URI opened at $655.97 on Wednesday. The business’s 50-day simple moving average is $680.99 and its 200 day simple moving average is $568.14. United Rentals, Inc. has a one year low of $325.15 and a one year high of $732.37. The stock has a market cap of $44.06 billion, a price-to-earnings ratio of 18.56, a price-to-earnings-growth ratio of 2.31 and a beta of 1.84. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 0.81.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, January 24th. The construction company reported $11.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.85 by $0.41. United Rentals had a return on equity of 36.80% and a net margin of 16.91%. The firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.63 billion. During the same quarter in the prior year, the firm posted $9.74 earnings per share. United Rentals’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, sell-side analysts predict that United Rentals, Inc. will post 43.13 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were paid a dividend of $1.63 per share. The ex-dividend date was Tuesday, February 13th. This represents a $6.52 annualized dividend and a yield of 0.99%. This is a boost from United Rentals’s previous quarterly dividend of $1.48. United Rentals’s dividend payout ratio is presently 18.44%.

United Rentals announced that its Board of Directors has authorized a share repurchase program on Wednesday, January 24th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 3.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wells Fargo & Company boosted their price target on United Rentals from $630.00 to $710.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. BNP Paribas reissued an “underperform” rating and set a $485.00 price target on shares of United Rentals in a research report on Friday, January 5th. Truist Financial assumed coverage on United Rentals in a research report on Thursday, March 14th. They set a “buy” rating and a $793.00 price target for the company. The Goldman Sachs Group upped their target price on United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Barclays upped their target price on United Rentals from $325.00 to $400.00 and gave the stock an “underweight” rating in a research report on Friday, January 26th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, United Rentals presently has a consensus rating of “Hold” and a consensus target price of $589.21.

Insider Buying and Selling at United Rentals

In other United Rentals news, CFO William E. Grace sold 775 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $655.62, for a total transaction of $508,105.50. Following the sale, the chief financial officer now owns 6,323 shares in the company, valued at $4,145,485.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.49% of the stock is currently owned by insiders.

United Rentals 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.