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

Resona Asset Management Co. Ltd. trimmed its stake in shares of United Rentals, Inc. (NYSE:URI) by 3.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,130 shares of the construction company’s stock after selling 812 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in United Rentals were worth $16,331,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in URI. Capital International Investors lifted its position in United Rentals by 22.8% during the 3rd quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock worth $3,247,762,000 after acquiring an additional 631,484 shares during the period. TD Asset Management Inc lifted its position in United Rentals by 66.5% during the 3rd quarter. TD Asset Management Inc now owns 484,450 shares of the construction company’s stock worth $462,485,000 after acquiring an additional 193,416 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in United Rentals by 3,459.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 196,688 shares of the construction company’s stock worth $159,184,000 after acquiring an additional 191,162 shares during the period. Capital World Investors lifted its position in United Rentals by 6.7% during the 3rd quarter. Capital World Investors now owns 2,678,614 shares of the construction company’s stock worth $2,557,158,000 after acquiring an additional 168,685 shares during the period. Finally, Public Sector Pension Investment Board lifted its position in United Rentals by 3,094.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 155,273 shares of the construction company’s stock worth $148,233,000 after acquiring an additional 150,412 shares during the period. 96.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at United Rentals

In related news, CEO Matthew John Flannery sold 22,768 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $984.98, for a total value of $22,426,024.64. Following the completion of the transaction, the chief executive officer directly owned 99,980 shares of the company’s stock, valued at $98,478,300.40. This trade represents a 18.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Joli L. Gross sold 306 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $954.99, for a total value of $292,226.94. Following the completion of the transaction, the senior vice president directly owned 5,738 shares of the company’s stock, valued at $5,479,732.62. The trade was a 5.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 26,088 shares of company stock valued at $25,628,877. Company insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on URI shares. KeyCorp increased their target price on United Rentals from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Morgan Stanley reissued an “overweight” rating and set a $1,030.00 target price on shares of United Rentals in a research note on Friday, April 24th. Barclays increased their target price on United Rentals from $600.00 to $715.00 and gave the stock an “underweight” rating in a research note on Friday, April 24th. Royal Bank Of Canada increased their target price on United Rentals from $1,041.00 to $1,119.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Finally, Evercore reissued an “outperform” rating and set a $1,101.00 target price on shares of United Rentals in a research note on Monday, May 11th. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $996.94.

United Rentals Stock Performance

Shares of URI stock opened at $934.96 on Thursday. The company has a market cap of $58.57 billion, a price-to-earnings ratio of 23.85, a price-to-earnings-growth ratio of 1.47 and a beta of 1.83. The stock has a 50 day simple moving average of $824.70 and a 200-day simple moving average of $840.16. United Rentals, Inc. has a 12-month low of $681.98 and a 12-month high of $1,021.47. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing the consensus estimate of $11.47 by ($1.76). United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.20 billion. During the same period in the previous year, the business earned $8.86 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities analysts forecast that United Rentals, Inc. will post 47.07 EPS for the current year.

United Rentals declared that its board has authorized a stock repurchase plan on Wednesday, January 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the construction company to purchase up to 8.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th will be paid a $1.97 dividend. This represents a $7.88 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, May 13th. United Rentals’s dividend payout ratio (DPR) is presently 20.10%.

United Rentals 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.