United Rentals, Inc. (NYSE:URI) Shares Sold by Sumitomo Mitsui Trust Group Inc.

by · The Cerbat Gem

Sumitomo Mitsui Trust Group Inc. cut its position in United Rentals, Inc. (NYSE:URI – Free Report) by 0.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 181,714 shares of the construction company’s stock after selling 72 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in United Rentals were worth $147,139,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of URI. Crewe Advisors LLC acquired a new position in shares of United Rentals in the first quarter valued at approximately $27,000. RFP Financial Group LLC boosted its position in United Rentals by 115.8% in the 2nd quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock valued at $27,000 after buying an additional 22 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new position in United Rentals during the 3rd quarter worth $31,000. Carmichael Hill & Associates Inc. increased its holdings in United Rentals by 80.0% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company’s stock worth $36,000 after purchasing an additional 20 shares during the period. Finally, HHM Wealth Advisors LLC raised its position in United Rentals by 280.0% in the 2nd quarter. HHM Wealth Advisors LLC now owns 57 shares of the construction company’s stock valued at $37,000 after purchasing an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Stock Down 0.6 %

URI opened at $868.60 on Wednesday. The business has a 50 day simple moving average of $797.79 and a 200-day simple moving average of $723.15. United Rentals, Inc. has a 12 month low of $453.23 and a 12 month high of $896.98. The stock has a market capitalization of $57.00 billion, a P/E ratio of 22.68, a P/E/G ratio of 2.04 and a beta of 1.68. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.82 and a quick ratio of 0.77.

United Rentals (NYSE:URI – Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.01 billion. United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $11.73 earnings per share. On average, equities analysts anticipate that United Rentals, Inc. will post 43.66 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a dividend of $1.63 per share. The ex-dividend date is Wednesday, November 13th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.75%. United Rentals’s payout ratio is 17.03%.

Insider Activity

In related news, SVP Anthony S. Leopold sold 900 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $823.24, for a total value of $740,916.00. Following the completion of the transaction, the senior vice president now directly owns 2,044 shares of the company’s stock, valued at $1,682,702.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.49% of the company’s stock.

Wall Street Analysts Forecast Growth

URI has been the topic of a number of recent research reports. Barclays upped their target price on shares of United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Robert W. Baird raised their price target on United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. lifted their price target on United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Truist Financial increased their price target on shares of United Rentals from $954.00 to $955.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group upped their target price on shares of United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $742.50.

Read Our Latest Stock Analysis on URI

About United Rentals

(Free Report)

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.

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