Daiwa Securities Group Inc. Grows Position in United Rentals, Inc. (NYSE:URI)

Daiwa Securities Group Inc. raised its position in United Rentals, Inc. (NYSE:URI) by 9.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,083 shares of the construction company’s stock after purchasing an additional 1,744 shares during the quarter. Daiwa Securities Group Inc.’s holdings in United Rentals were worth $17,072,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC grew its stake in shares of United Rentals by 82,462.2% during the third quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock valued at $1,300,962,000 after buying an additional 1,604,715 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in United Rentals by 4.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 637,188 shares of the construction company’s stock valued at $412,089,000 after acquiring an additional 27,708 shares during the period. AMF Tjanstepension AB grew its position in United Rentals by 77.7% in the 2nd quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock valued at $295,626,000 after acquiring an additional 199,810 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in United Rentals by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 438,427 shares of the construction company’s stock worth $355,007,000 after purchasing an additional 5,325 shares during the period. Finally, Hsbc Holdings PLC lifted its position in shares of United Rentals by 5.7% during the second quarter. Hsbc Holdings PLC now owns 382,536 shares of the construction company’s stock worth $247,001,000 after purchasing an additional 20,481 shares during the last quarter. Institutional investors own 96.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Citigroup upped their price target on shares of United Rentals from $930.00 to $955.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Evercore ISI raised their target price on shares of United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Bank of America lifted their price target on shares of United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Robert W. Baird increased their price objective on United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research note on Thursday, October 3rd. Finally, Truist Financial lifted their target price on United Rentals from $954.00 to $955.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $751.67.

United Rentals Stock Performance

URI stock opened at $849.32 on Monday. United Rentals, Inc. has a one year low of $454.71 and a one year high of $896.98. The firm has a market cap of $55.73 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 1.99 and a beta of 1.68. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.77 and a current ratio of 0.82. The firm has a 50-day simple moving average of $819.40 and a two-hundred day simple moving average of $732.35.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the previous year, the company earned $11.73 EPS. The company’s revenue was up 6.0% on a year-over-year basis. On average, equities analysts forecast that United Rentals, Inc. will post 43.46 EPS for the current fiscal year.

United Rentals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $6.52 annualized dividend and a yield of 0.77%. United Rentals’s dividend payout ratio (DPR) is 17.03%.

Insider Buying and Selling

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now owns 2,044 shares of the company’s stock, valued at approximately $1,682,702.56. This trade represents a 30.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.49% of the stock is owned by company insiders.

United Rentals Company Profile

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.