Resona Asset Management Co. Ltd. Cuts Stock Position in United Rentals, Inc. $URI

Resona Asset Management Co. Ltd. decreased its stake in shares of United Rentals, Inc. (NYSE:URI) by 3.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 SEC filing.

Several other large investors also recently bought and sold shares of URI. Aventura Private Wealth LLC purchased a new stake in United Rentals during the 4th quarter worth about $27,000. Abich Financial Wealth Management LLC purchased a new stake in United Rentals during the 3rd quarter worth about $29,000. Board of the Pension Protection Fund purchased a new stake in United Rentals during the 4th quarter worth about $32,000. Laurel Wealth Advisors LLC purchased a new stake in United Rentals during the 4th quarter worth about $32,000. Finally, Fortitude Family Office LLC increased its holdings in United Rentals by 121.1% during the 4th quarter. Fortitude Family Office LLC now owns 42 shares of the construction company’s stock worth $34,000 after purchasing an additional 23 shares during the period. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Insider Transactions at United Rentals

In related news, SVP Joli L. Gross sold 306 shares of the company’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $954.99, for a total value of $292,226.94. Following the completion of the sale, the senior vice president directly owned 5,738 shares of the company’s stock, valued at $5,479,732.62. This represents a 5.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Andrew B. Limoges sold 548 shares of the company’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $977.86, for a total value of $535,867.28. Following the completion of the sale, the vice president directly owned 1,865 shares of the company’s stock, valued at approximately $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 26,088 shares of company stock valued at $25,628,877 in the last 90 days. Company insiders own 0.47% of the company’s stock.

United Rentals Stock Up 0.8%

Shares of NYSE URI opened at $934.96 on Thursday. The stock has a market cap of $58.57 billion, a PE ratio of 23.85, a price-to-earnings-growth ratio of 1.47 and a beta of 1.83. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.37. United Rentals, Inc. has a 52-week low of $681.98 and a 52-week high of $1,021.47. The business has a 50-day moving average price of $824.70 and a 200 day moving average price of $840.16.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the company earned $8.86 earnings per share. Equities research analysts forecast that United Rentals, Inc. will post 47.07 earnings per share for the current year.

United Rentals announced that its board has authorized a share repurchase program on Wednesday, January 28th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the construction company to purchase up to 8.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

United Rentals Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on URI. Citigroup upped their price target on United Rentals from $950.00 to $1,130.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Royal Bank Of Canada upped their price target on United Rentals from $1,041.00 to $1,119.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Morgan Stanley restated an “overweight” rating and set a $1,030.00 price target on shares of United Rentals in a report on Friday, April 24th. Barclays upped their price target on United Rentals from $600.00 to $715.00 and gave the stock an “underweight” rating in a report on Friday, April 24th. Finally, Truist Financial set a $1,209.00 price target on United Rentals in a report on Friday, April 24th. Thirteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, United Rentals has a consensus rating of “Moderate Buy” and a consensus price target of $996.94.

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.