Mitsubishi UFJ Trust & Banking Corp Reduces Position in United Rentals, Inc. $URI

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in shares of United Rentals, Inc. (NYSE:URI) by 5.5% in the 4th quarter, Holdings Channel reports. The fund owned 28,391 shares of the construction company’s stock after selling 1,658 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in United Rentals were worth $22,977,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Aventura Private Wealth LLC purchased a new stake in United Rentals during the 4th quarter valued at about $27,000. Salomon & Ludwin LLC boosted its holdings in United Rentals by 650.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 30 shares of the construction company’s stock valued at $29,000 after purchasing an additional 26 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new position in United Rentals in the 3rd quarter valued at about $29,000. Cedar Mountain Advisors LLC acquired a new position in United Rentals in the 3rd quarter valued at about $32,000. Finally, Board of the Pension Protection Fund acquired a new position in United Rentals in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Stock Performance

Shares of URI stock opened at $952.46 on Thursday. The firm’s 50 day moving average price is $800.67 and its 200-day moving average price is $841.29. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80. United Rentals, Inc. has a one year low of $611.93 and a one year high of $1,021.47. The firm has a market cap of $59.67 billion, a P/E ratio of 24.30, a P/E/G ratio of 1.53 and a beta of 1.68.

United Rentals (NYSE:URI) last issued its quarterly earnings data 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 company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.20 billion. During the same quarter in the prior year, the company posted $8.86 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. As a group, equities research analysts predict that United Rentals, Inc. will post 46.87 EPS for the current year.

United Rentals declared that its Board of Directors has approved a stock repurchase program on Wednesday, January 28th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th will be issued a $1.97 dividend. This represents a $7.88 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Wednesday, May 13th. United Rentals’s dividend payout ratio is currently 20.10%.

Insider Transactions at United Rentals

In other news, EVP Craig Adam Pintoff sold 2,466 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $963.00, for a total value of $2,374,758.00. Following the transaction, the executive vice president directly owned 14,774 shares in the company, valued at approximately $14,227,362. This represents a 14.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael D. Durand sold 2,490 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $791.14, for a total transaction of $1,969,938.60. Following the completion of the transaction, the executive vice president owned 7,458 shares in the company, valued at approximately $5,900,322.12. This represents a 25.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 30,076 shares of company stock worth $28,783,569. 0.47% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

URI has been the topic of several recent analyst reports. UBS Group upgraded shares of United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 target price on the stock in a report on Sunday, January 4th. Barclays boosted their target price on shares of United Rentals from $600.00 to $715.00 and gave the company an “underweight” rating in a report on Friday, April 24th. JPMorgan Chase & Co. boosted their target price on shares of United Rentals from $850.00 to $1,050.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Sanford C. Bernstein set a $903.00 target price on shares of United Rentals and gave the company an “outperform” rating in a report on Thursday, April 9th. Finally, Truist Financial set a $1,209.00 target price on shares of United Rentals in a report on Friday, April 24th. Thirteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $986.35.

About United Rentals

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.