Sumitomo Mitsui DS Asset Management Company Ltd Purchases 57 Shares of United Rentals, Inc. (NYSE:URI)

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in United Rentals, Inc. (NYSE:URI) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,879 shares of the construction company’s stock after acquiring an additional 57 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in United Rentals were worth $3,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. OFI Invest Asset Management bought a new position in United Rentals during the third quarter valued at $25,000. AdvisorNet Financial Inc raised its position in shares of United Rentals by 71.4% during the 4th quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock valued at $28,000 after buying an additional 20 shares in the last quarter. NBC Securities Inc. bought a new position in shares of United Rentals in the 3rd quarter valued at about $29,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in United Rentals in the third quarter worth about $40,000. Finally, Arlington Trust Co LLC increased its stake in United Rentals by 50.0% during the fourth quarter. Arlington Trust Co LLC now owns 84 shares of the construction company’s stock worth $48,000 after acquiring an additional 28 shares during the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Trading Up 0.2 %

Shares of URI opened at $629.30 on Tuesday. The firm has a market capitalization of $42.27 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 2.18 and a beta of 1.84. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.81 and a quick ratio of 0.75. United Rentals, Inc. has a 1-year low of $325.15 and a 1-year high of $732.37. The company has a 50-day moving average of $679.24 and a 200 day moving average of $573.90.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, January 24th. The construction company reported $11.26 earnings per share for the quarter, beating the consensus estimate of $10.85 by $0.41. United Rentals had a net margin of 16.91% and a return on equity of 36.80%. The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the previous year, the firm posted $9.74 earnings per share. The company’s revenue was up 13.1% on a year-over-year basis. On average, research analysts expect that United Rentals, Inc. will post 43.13 EPS for the current year.

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

United Rentals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.04%. This is a boost from United Rentals’s previous quarterly dividend of $1.48. The ex-dividend date was Tuesday, February 13th. United Rentals’s dividend payout ratio is currently 18.44%.

Insider Transactions at United Rentals

In related news, CFO William E. Grace sold 775 shares of United Rentals stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $655.62, for a total value of $508,105.50. Following the completion of the sale, the chief financial officer now directly owns 6,323 shares in the company, valued at $4,145,485.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.49% of the company’s stock.

Analysts Set New Price Targets

URI has been the subject of several analyst reports. Barclays raised their price objective on United Rentals from $325.00 to $400.00 and gave the company an “underweight” rating in a research note on Friday, January 26th. Robert W. Baird raised their price target on United Rentals from $322.00 to $559.00 and gave the stock an “underperform” rating in a research report on Friday, January 26th. Morgan Stanley started coverage on shares of United Rentals in a research report on Monday, January 8th. They set an “equal weight” rating and a $500.00 price objective on the stock. The Goldman Sachs Group raised their target price on shares of United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Truist Financial began coverage on shares of United Rentals in a research note on Thursday, March 14th. They set a “buy” rating and a $793.00 price target for the company. Three analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $589.21.

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.