Sumitomo Mitsui Trust Holdings Inc. Has $50.07 Million Stock Position in United Rentals, Inc. (NYSE:URI)

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Sumitomo Mitsui Trust Holdings Inc. trimmed its position in United Rentals, Inc. (NYSE:URI) by 34.2% in the second quarter, Holdings Channel.com reports. The firm owned 335,921 shares of the construction company’s stock after selling 174,487 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in United Rentals were worth $50,066,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. increased its position in United Rentals by 2.3% in the first quarter. BlackRock Inc. now owns 5,703,838 shares of the construction company’s stock worth $586,926,000 after purchasing an additional 130,611 shares during the period. State Street Corp increased its position in United Rentals by 1.7% in the first quarter. State Street Corp now owns 4,437,023 shares of the construction company’s stock worth $456,570,000 after purchasing an additional 74,425 shares during the period. Wells Fargo & Company MN increased its position in United Rentals by 31.3% in the first quarter. Wells Fargo & Company MN now owns 1,827,114 shares of the construction company’s stock worth $188,010,000 after purchasing an additional 435,398 shares during the period. Geode Capital Management LLC increased its position in United Rentals by 3.8% in the first quarter. Geode Capital Management LLC now owns 1,234,081 shares of the construction company’s stock worth $126,752,000 after purchasing an additional 45,164 shares during the period. Finally, Morgan Stanley grew its position in shares of United Rentals by 15.2% during the 1st quarter. Morgan Stanley now owns 1,187,482 shares of the construction company’s stock worth $122,191,000 after buying an additional 157,021 shares during the period. Hedge funds and other institutional investors own 93.57% of the company’s stock.

In other news, VP Andrew B. Limoges sold 553 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $162.80, for a total transaction of $90,028.40. Following the sale, the vice president now owns 1,953 shares in the company, valued at approximately $317,948.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael Kneeland sold 41,936 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $155.60, for a total value of $6,525,241.60. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Several equities analysts have recently issued reports on the company. Cfra decreased their target price on United Rentals from $180.00 to $146.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Goldman Sachs Group lowered United Rentals from a “conviction-buy” rating to a “buy” rating and set a $165.00 target price for the company. in a research report on Thursday, June 4th. TheStreet upgraded United Rentals from a “c+” rating to a “b-” rating in a research report on Wednesday, June 3rd. Northcoast Research restated a “neutral” rating on shares of United Rentals in a research report on Friday, May 1st. Finally, Standpoint Research lowered United Rentals from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. United Rentals has an average rating of “Hold” and a consensus target price of $148.29.

NYSE URI opened at $155.37 on Friday. The stock has a market capitalization of $11.31 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 1.01 and a beta of 2.28. The stock’s 50 day moving average price is $152.25 and its two-hundred day moving average price is $132.17. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.05 and a current ratio of 0.84. United Rentals, Inc. has a 52 week low of $58.85 and a 52 week high of $170.04.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, July 29th. The construction company reported $3.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $1.75. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.84 billion. United Rentals had a return on equity of 37.16% and a net margin of 12.37%. The business’s quarterly revenue was down 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.74 EPS. On average, equities research analysts forecast that United Rentals, Inc. will post 12.95 EPS for the current year.

About United Rentals

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals; and Trench, Power and Fluid Solutions. The General Rentals segment rents general construction and industrial equipment, including backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom lifts and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools.

Further Reading: What is Cost of Goods Sold (COGS)?

Want to see what other hedge funds are holding URI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Rentals, Inc. (NYSE:URI).

Institutional Ownership by Quarter for United Rentals (NYSE:URI)

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