Meiji Yasuda Asset Management Co Ltd. Boosts Stock Holdings in United Rentals, Inc. (NYSE:URI)

Meiji Yasuda Asset Management Co Ltd. lifted its stake in United Rentals, Inc. (NYSE:URI) by 15.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,089 shares of the construction company’s stock after buying an additional 145 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in United Rentals were worth $704,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Capital Research Global Investors increased its stake in United Rentals by 39.1% in the 4th quarter. Capital Research Global Investors now owns 6,399,808 shares of the construction company’s stock worth $3,669,806,000 after purchasing an additional 1,799,997 shares during the period. Capital International Investors purchased a new position in shares of United Rentals in the first quarter worth $332,349,000. AMF Tjanstepension AB raised its holdings in United Rentals by 77.7% during the 2nd quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock valued at $295,626,000 after buying an additional 199,810 shares during the last quarter. AGF Management Ltd. boosted its position in United Rentals by 4,778.7% during the 2nd quarter. AGF Management Ltd. now owns 103,672 shares of the construction company’s stock valued at $67,048,000 after buying an additional 101,547 shares during the period. Finally, Heritage Wealth Advisors boosted its position in United Rentals by 15,100.8% during the 1st quarter. Heritage Wealth Advisors now owns 100,781 shares of the construction company’s stock valued at $72,674,000 after buying an additional 100,118 shares during the period. Institutional investors own 96.26% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on URI. Evercore ISI upped their price objective on shares of United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Raymond James began coverage on United Rentals in a report on Friday, June 28th. They issued an “outperform” rating and a $750.00 price objective for the company. Truist Financial boosted their target price on United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. began coverage on United Rentals in a research note on Friday, June 7th. They issued an “overweight” rating and a $780.00 price target for the company. Finally, Citigroup assumed coverage on shares of United Rentals in a report on Wednesday, June 26th. They issued a “buy” rating and a $745.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $675.15.

Insider Transactions at United Rentals

In related news, SVP Joli L. Gross sold 360 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $690.00, for a total transaction of $248,400.00. Following the sale, the senior vice president now directly owns 4,090 shares of the company’s stock, valued at approximately $2,822,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is owned by insiders.

United Rentals Stock Down 1.3 %

Shares of United Rentals stock opened at $783.60 on Friday. United Rentals, Inc. has a 1 year low of $387.01 and a 1 year high of $801.39. The firm has a market cap of $52.18 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 1.72 and a beta of 1.68. The company has a 50-day moving average of $720.19 and a 200 day moving average of $686.67. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.81 and a quick ratio of 0.76.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.48 by $0.22. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same period last year, the business earned $9.88 earnings per share. The business’s revenue was up 6.2% on a year-over-year basis. As a group, sell-side analysts anticipate that United Rentals, Inc. will post 44.39 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were issued a dividend of $1.63 per share. The ex-dividend date was Wednesday, August 14th. This represents a $6.52 annualized dividend and a dividend yield of 0.83%. United Rentals’s payout ratio is presently 17.66%.

About United Rentals

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.