United Rentals, Inc. $URI Stake Increased by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. grew its stake in United Rentals, Inc. (NYSE:URI) by 9.1% in the third quarter, Holdings Channel reports. The fund owned 11,198 shares of the construction company’s stock after purchasing an additional 931 shares during the period. Rakuten Investment Management Inc.’s holdings in United Rentals were worth $11,361,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of United Rentals during the 2nd quarter valued at about $5,816,326,000. State Street Corp grew its holdings in shares of United Rentals by 1.1% in the second quarter. State Street Corp now owns 2,993,837 shares of the construction company’s stock valued at $3,391,688,000 after purchasing an additional 32,238 shares during the period. Bank of America Corp DE acquired a new stake in United Rentals during the second quarter worth about $944,196,000. The Manufacturers Life Insurance Company acquired a new stake in United Rentals during the second quarter worth about $716,129,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in United Rentals by 15.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 539,121 shares of the construction company’s stock worth $610,765,000 after purchasing an additional 74,008 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Stock Down 4.3%

Shares of NYSE:URI opened at $1,125.02 on Thursday. The company has a market capitalization of $69.66 billion, a price-to-earnings ratio of 24.73, a PEG ratio of 1.64 and a beta of 1.82. United Rentals, Inc. has a 12-month low of $701.59 and a 12-month high of $1,202.12. The business has a 50-day moving average price of $1,053.99 and a 200 day moving average price of $974.16. The company has a current ratio of 0.80, a quick ratio of 0.73 and a debt-to-equity ratio of 1.35.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, October 21st. The construction company reported $15.55 EPS for the quarter, beating analysts’ consensus estimates of $13.97 by $1.58. The company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.71 billion. United Rentals had a net margin of 16.33% and a return on equity of 33.47%. United Rentals’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $11.70 earnings per share. Sell-side analysts expect that United Rentals, Inc. will post 51.51 EPS for the current year.

United Rentals Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. lowered shares of United Rentals from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $1,235.00 to $1,170.00 in a report on Thursday, September 10th. Royal Bank Of Canada increased their price target on shares of United Rentals from $1,323.00 to $1,392.00 and gave the company an “outperform” rating in a research note on Friday, October 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of United Rentals in a report on Wednesday, October 21st. Robert W. Baird set a $1,310.00 price target on shares of United Rentals in a research report on Friday, October 23rd. Finally, Wells Fargo & Company lifted 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. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.