Daiichi Life Insurance Co. Ltd. Invests $8.26 Million in United Rentals, Inc. $URI

Daiichi Life Insurance Co. Ltd. acquired a new stake in shares of United Rentals, Inc. (NYSE:URI) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 7,291 shares of the construction company’s stock, valued at approximately $8,260,000.

Other institutional investors have also recently made changes to their positions in the company. MidFirst Bank acquired a new position in United Rentals during the 2nd quarter valued at about $31,000. Core Wealth Advisors LLC purchased a new stake in United Rentals in the fourth quarter valued at about $28,000. MV Capital Management Inc. acquired a new stake in United Rentals in the fourth quarter worth about $28,000. Bell Investment Advisors Inc acquired a new stake in United Rentals in the second quarter worth about $40,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of United Rentals during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on URI. Truist Financial upped their price objective on shares of United Rentals from $1,421.00 to $1,466.00 and gave the company a “buy” rating in a report on Friday, July 24th. Bank of America lifted their target price on shares of United Rentals from $1,195.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Wells Fargo & Company boosted their target price on shares of United Rentals from $1,245.00 to $1,355.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Wall Street Zen raised shares of United Rentals from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Finally, BNP Paribas Exane upgraded shares of United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price target on the stock in a research note on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,246.19.

United Rentals Stock Down 0.0%

United Rentals stock opened at $1,095.21 on Friday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.70 and a current ratio of 0.76. The business’s 50-day simple moving average is $1,099.22 and its two-hundred day simple moving average is $949.51. The company has a market cap of $68.17 billion, a PE ratio of 26.30, a PEG ratio of 1.42 and a beta of 1.80. United Rentals, Inc. has a fifty-two week low of $701.59 and a fifty-two week high of $1,179.18.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, beating analysts’ consensus estimates of $11.53 by $1.23. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same period in the prior year, the company earned $10.47 earnings per share. The company’s revenue was up 11.8% on a year-over-year basis. Equities analysts anticipate that United Rentals, Inc. will post 48.55 EPS for the current year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be given a $1.97 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. United Rentals’s dividend payout ratio is currently 18.92%.

Insiders Place Their Bets

In related news, EVP William E. Grace sold 1,500 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the transaction, the executive vice president owned 6,062 shares in the company, valued at approximately $6,869,155.30. This represents a 19.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.47% of the company’s stock.

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.