4,686 United Rentals, Inc. $URI Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its stake in United Rentals, Inc. (NYSE:URI) by 3.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 131,411 shares of the construction company’s stock after selling 4,686 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.21% of United Rentals worth $131,514,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of United Rentals during the 2nd quarter valued at approximately $29,000. MidFirst Bank acquired a new position in shares of United Rentals in the 2nd quarter valued at $31,000. Bell Investment Advisors Inc purchased a new stake in United Rentals during the second quarter worth $40,000. Laurel Wealth Advisors LLC purchased a new stake in United Rentals during the third quarter worth $40,000. Finally, Frazier Financial Advisors LLC boosted its holdings in United Rentals by 33.3% during the first quarter. Frazier Financial Advisors LLC now owns 56 shares of the construction company’s stock worth $41,000 after buying an additional 14 shares in the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Price Performance

Shares of United Rentals stock opened at $1,175.10 on Tuesday. The business has a 50 day simple moving average of $1,050.72 and a two-hundred day simple moving average of $971.88. United Rentals, Inc. has a 12 month low of $701.59 and a 12 month high of $1,202.12. The stock has a market capitalization of $72.76 billion, a P/E ratio of 25.83, a PEG ratio of 1.66 and a beta of 1.83. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.80 and a quick ratio of 0.73.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, October 21st. The construction company reported $15.55 earnings per share for the quarter, beating the consensus estimate of $13.97 by $1.58. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.71 billion. United Rentals had a return on equity of 33.47% and a net margin of 16.33%. The business’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the business posted $11.70 earnings per share. As a group, analysts predict that United Rentals, Inc. will post 51.17 EPS for the current fiscal year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Wednesday, November 11th will be paid a $1.97 dividend. This represents a $7.88 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, November 10th. United Rentals’s dividend payout ratio is currently 17.32%.

Analysts Set New Price Targets

URI has been the topic of several analyst reports. Wells Fargo & Company raised their price target on shares of United Rentals from $1,245.00 to $1,355.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Raymond James Financial reiterated an “outperform” rating and issued a $1,350.00 price objective on shares of United Rentals in a research report on Monday. Robert W. Baird set a $1,310.00 target price on shares of United Rentals in a research note on Friday, October 23rd. Bank of America restated a “buy” rating on shares of United Rentals in a research note on Thursday, October 22nd. Finally, KeyCorp restated an “overweight” rating on shares of United Rentals in a research note on Friday, October 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,292.88.

United Rentals Profile

United Rentals, Inc is an equipment rental company serving construction, industrial, infrastructure, utilities, government and other commercial customers. The company provides access to equipment and related services through a network of rental locations, helping customers manage projects without purchasing and maintaining all of the equipment they need.

Its rental fleet includes aerial work platforms, earthmoving equipment, material-handling equipment, general construction tools, trucks and trailers, and light-duty equipment.