Resona Asset Management Co. Ltd. Takes Position in United Rentals, Inc. (NYSE:URI)

Resona Asset Management Co. Ltd. purchased a new position in United Rentals, Inc. (NYSE:URI) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 19,923 shares of the construction company’s stock, valued at approximately $14,071,000.

A number of other institutional investors have also recently modified their holdings of the stock. Rialto Wealth Management LLC purchased a new stake in United Rentals during the 4th quarter valued at $25,000. ORG Wealth Partners LLC purchased a new stake in United Rentals in the fourth quarter worth about $26,000. Murphy & Mullick Capital Management Corp purchased a new stake in United Rentals in the 4th quarter worth approximately $27,000. Meeder Asset Management Inc. increased its stake in shares of United Rentals by 241.7% in the fourth quarter. Meeder Asset Management Inc. now owns 41 shares of the construction company’s stock worth $29,000 after purchasing an additional 29 shares in the last quarter. Finally, Hanson & Doremus Investment Management bought a new stake in United Rentals during the fourth quarter valued at about $33,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

URI has been the topic of several recent analyst reports. Morgan Stanley reduced their price objective on shares of United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Citigroup reduced their price objective on United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Bank of America cut their price objective on shares of United Rentals from $850.00 to $750.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Truist Financial reiterated a “buy” rating and issued a $956.00 price target (down from $963.00) on shares of United Rentals in a report on Friday, January 31st. Finally, Baird R W raised shares of United Rentals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $804.15.

United Rentals Trading Down 4.5 %

NYSE URI opened at $564.56 on Monday. The company has a 50 day moving average price of $669.75 and a 200 day moving average price of $750.57. The firm has a market cap of $36.88 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 1.43 and a beta of 1.72. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. United Rentals, Inc. has a 52 week low of $537.36 and a 52 week high of $896.98.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, January 29th. The construction company reported $11.59 EPS for the quarter, missing the consensus estimate of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. As a group, sell-side analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 1.27%. This is a boost from United Rentals’s previous quarterly dividend of $1.63. The ex-dividend date was Wednesday, February 12th. United Rentals’s dividend payout ratio (DPR) is presently 18.48%.

Insider Buying and Selling at United Rentals

In other United Rentals news, CFO William E. Grace sold 1,100 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $638.10, for a total value of $701,910.00. Following the completion of the transaction, the chief financial officer now directly owns 6,880 shares of the company’s stock, valued at approximately $4,390,128. The trade was a 13.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.53% of the company’s stock.

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.