United Rentals, Inc. $URI Position Lessened by Nissay Asset Management Corp Japan

Nissay Asset Management Corp Japan lowered its stake in shares of United Rentals, Inc. (NYSE:URI) by 19.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,658 shares of the construction company’s stock after selling 3,542 shares during the quarter. Nissay Asset Management Corp Japan’s holdings in United Rentals were worth $16,606,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Woodline Partners LP grew its position in shares of United Rentals by 40.0% during the first quarter. Woodline Partners LP now owns 5,518 shares of the construction company’s stock worth $3,458,000 after acquiring an additional 1,577 shares during the last quarter. Sei Investments Co. increased its holdings in shares of United Rentals by 24.7% in the 2nd quarter. Sei Investments Co. now owns 27,136 shares of the construction company’s stock worth $20,444,000 after acquiring an additional 5,375 shares during the period. Treasurer of the State of North Carolina lifted its position in United Rentals by 43.6% in the 2nd quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company’s stock valued at $42,233,000 after purchasing an additional 17,030 shares during the last quarter. HUB Investment Partners LLC lifted its position in United Rentals by 11.3% in the 2nd quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company’s stock valued at $1,661,000 after purchasing an additional 223 shares during the last quarter. Finally, Diversify Advisory Services LLC boosted its stake in United Rentals by 338.7% during the 2nd quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company’s stock valued at $1,246,000 after purchasing an additional 1,277 shares during the period. 96.26% of the stock is currently owned by institutional investors.

Insider Activity at United Rentals

In related news, EVP William E. Grace sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the sale, the executive vice president owned 6,062 shares of the company’s stock, valued at $6,869,155.30. The trade was a 19.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on URI shares. BNP Paribas Exane upgraded shares of United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 target price for the company in a research report on Monday, June 29th. Truist Financial lifted their price target on United Rentals from $1,421.00 to $1,466.00 and gave the company a “buy” rating in a report on Friday, July 24th. Morgan Stanley set a $1,335.00 price objective on United Rentals and gave the stock an “overweight” rating in a research report on Friday, July 24th. UBS Group increased their price objective on United Rentals from $1,300.00 to $1,350.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Finally, Evercore restated an “outperform” rating and issued a $1,101.00 target price on shares of United Rentals in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, United Rentals presently has an average rating of “Moderate Buy” and an average price target of $1,246.19.

United Rentals Stock Performance

Shares of URI opened at $1,030.64 on Friday. The firm has a 50-day moving average price of $1,097.31 and a 200 day moving average price of $957.16. The firm has a market capitalization of $64.15 billion, a PE ratio of 24.75, a P/E/G ratio of 1.33 and a beta of 1.80. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38. United Rentals, Inc. has a 52-week low of $701.59 and a 52-week high of $1,179.18.

United Rentals (NYSE:URI) last released its earnings results on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, beating the consensus estimate of $11.53 by $1.23. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The firm had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter last year, the company earned $10.47 EPS. United Rentals’s quarterly revenue was up 11.8% on a year-over-year basis. On average, sell-side analysts anticipate that United Rentals, Inc. will post 48.55 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were issued a $1.97 dividend. The ex-dividend date was Wednesday, August 12th. This represents a $7.88 annualized dividend and a dividend yield of 0.8%. United Rentals’s dividend payout ratio (DPR) is 18.92%.

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.