Daiwa Securities Group Inc. Has $17.02 Million Holdings in United Rentals, Inc. $URI

Daiwa Securities Group Inc. cut its stake in shares of United Rentals, Inc. (NYSE:URI) by 18.3% in the 4th quarter, HoldingsChannel reports. The fund owned 21,035 shares of the construction company’s stock after selling 4,703 shares during the quarter. Daiwa Securities Group Inc.’s holdings in United Rentals were worth $17,024,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Greenspring Advisors LLC acquired a new stake in United Rentals during the fourth quarter worth approximately $286,000. Lido Advisors LLC lifted its position in United Rentals by 2.9% during the fourth quarter. Lido Advisors LLC now owns 15,801 shares of the construction company’s stock worth $12,788,000 after acquiring an additional 440 shares during the last quarter. CIBC Asset Management Inc lifted its position in United Rentals by 64.8% during the fourth quarter. CIBC Asset Management Inc now owns 15,767 shares of the construction company’s stock worth $12,761,000 after acquiring an additional 6,199 shares during the last quarter. Westpac Banking Corp lifted its position in United Rentals by 19.7% during the fourth quarter. Westpac Banking Corp now owns 261 shares of the construction company’s stock worth $211,000 after acquiring an additional 43 shares during the last quarter. Finally, Bridges Investment Management Inc. lifted its position in United Rentals by 2.0% during the fourth quarter. Bridges Investment Management Inc. now owns 69,583 shares of the construction company’s stock worth $56,315,000 after acquiring an additional 1,354 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at United Rentals

In other news, CEO Matthew John Flannery sold 22,768 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $984.98, for a total transaction of $22,426,024.64. Following the transaction, the chief executive officer directly owned 99,980 shares of the company’s stock, valued at approximately $98,478,300.40. This trade represents a 18.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Andrew B. Limoges sold 548 shares of United Rentals stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $977.86, for a total transaction of $535,867.28. Following the completion of the transaction, the vice president directly owned 1,865 shares in the company, valued at $1,823,708.90. This trade represents a 22.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 26,088 shares of company stock valued at $25,628,877 over the last ninety days. Company insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on URI. JPMorgan Chase & Co. raised their price objective on shares of United Rentals from $850.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Weiss Ratings upgraded shares of United Rentals from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. KeyCorp raised their price objective on shares of United Rentals from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Robert W. Baird raised their price objective on shares of United Rentals from $970.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Finally, Truist Financial set a $1,209.00 price objective on shares of United Rentals in a research report on Friday, April 24th. Twelve research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,013.63.

United Rentals Stock Down 1.6%

Shares of URI opened at $1,067.62 on Friday. United Rentals, Inc. has a 12 month low of $682.08 and a 12 month high of $1,091.23. The firm’s 50 day moving average is $885.82 and its 200-day moving average is $852.39. The stock has a market capitalization of $66.89 billion, a PE ratio of 27.24, a P/E/G ratio of 1.72 and a beta of 1.81. 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 announced its earnings results on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing the consensus estimate of $11.47 by ($1.76). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.20 billion. During the same period in the prior year, the business posted $8.86 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts forecast that United Rentals, Inc. will post 47.07 EPS for the current year.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were issued a dividend of $1.97 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. United Rentals’s dividend payout ratio (DPR) is currently 20.10%.

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.