United Rentals, Inc. $URI Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lowered its position in shares of United Rentals, Inc. (NYSE:URI) by 6.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,942 shares of the construction company’s stock after selling 1,513 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in United Rentals were worth $19,953,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of URI. Norges Bank acquired a new stake in shares of United Rentals during the second quarter worth $776,102,000. JPMorgan Chase & Co. lifted its position in United Rentals by 71.3% during the second quarter. JPMorgan Chase & Co. now owns 1,874,127 shares of the construction company’s stock worth $1,411,968,000 after buying an additional 780,322 shares during the period. Boston Partners lifted its position in United Rentals by 74.5% during the second quarter. Boston Partners now owns 715,250 shares of the construction company’s stock worth $542,526,000 after buying an additional 305,378 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new stake in United Rentals in the 2nd quarter worth about $152,069,000. Finally, Lazard Asset Management LLC grew its holdings in United Rentals by 34,208.2% in the 2nd quarter. Lazard Asset Management LLC now owns 189,038 shares of the construction company’s stock valued at $142,421,000 after buying an additional 188,487 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Price Performance

URI opened at $917.28 on Friday. United Rentals, Inc. has a 52-week low of $525.91 and a 52-week high of $1,021.47. The company has a 50 day moving average of $843.26 and a two-hundred day moving average of $886.23. The company has a market cap of $58.37 billion, a P/E ratio of 23.59, a P/E/G ratio of 1.91 and a beta of 1.69. The company has a quick ratio of 0.84, a current ratio of 0.90 and a debt-to-equity ratio of 1.40.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, October 22nd. The construction company reported $11.70 earnings per share for the quarter, missing the consensus estimate of $12.43 by ($0.73). United Rentals had a net margin of 15.83% and a return on equity of 31.30%. The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same quarter in the previous year, the firm posted $11.80 EPS. The business’s revenue was up 5.9% compared to the same quarter last year. On average, analysts expect that United Rentals, Inc. will post 44.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on URI. Weiss Ratings reiterated a “hold (c+)” rating on shares of United Rentals in a report on Wednesday. Barclays dropped their price target on shares of United Rentals from $620.00 to $600.00 and set an “underweight” rating for the company in a research report on Monday, October 20th. KeyCorp reiterated an “overweight” rating on shares of United Rentals in a report on Wednesday, December 3rd. Truist Financial dropped their price objective on United Rentals from $1,169.00 to $1,045.00 and set a “buy” rating for the company in a report on Thursday, December 18th. Finally, Robert W. Baird raised United Rentals from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $888.00 to $1,050.00 in a research report on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, United Rentals has an average rating of “Moderate Buy” and a consensus target price of $970.76.

United Rentals Company Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.