Sumitomo Mitsui Trust Holdings Inc. Sells 2,717 Shares of United Rentals, Inc. (NYSE:URI)

Sumitomo Mitsui Trust Holdings Inc. decreased its position in United Rentals, Inc. (NYSE:URI) by 1.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,013 shares of the construction company’s stock after selling 2,717 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.29% of United Rentals worth $142,068,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Louisiana State Employees Retirement System bought a new position in United Rentals in the 4th quarter worth about $2,351,000. Verdence Capital Advisors LLC bought a new position in United Rentals during the 4th quarter valued at about $257,000. Nomura Holdings Inc. bought a new position in United Rentals during the 4th quarter valued at about $780,000. Pinnacle Associates Ltd. lifted its stake in United Rentals by 55.5% during the 4th quarter. Pinnacle Associates Ltd. now owns 6,413 shares of the construction company’s stock valued at $3,677,000 after acquiring an additional 2,289 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in United Rentals by 46.2% during the 4th quarter. Victory Capital Management Inc. now owns 99,372 shares of the construction company’s stock valued at $56,982,000 after acquiring an additional 31,398 shares during the period. Institutional investors own 96.26% of the company’s stock.

United Rentals Price Performance

United Rentals stock traded up $11.06 during midday trading on Wednesday, reaching $656.94. 116,161 shares of the stock traded hands, compared to its average volume of 569,874. The stock’s fifty day moving average is $660.29 and its 200-day moving average is $646.84. United Rentals, Inc. has a 12 month low of $387.01 and a 12 month high of $732.37. The stock has a market cap of $43.75 billion, a P/E ratio of 17.49, a PEG ratio of 2.12 and a beta of 1.71. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 1.39.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, beating the consensus estimate of $8.35 by $0.80. The company had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.44 billion. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. United Rentals’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $7.95 EPS. As a group, equities research analysts anticipate that United Rentals, Inc. will post 43.71 EPS for the current year.

United Rentals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.99%. United Rentals’s dividend payout ratio is 17.66%.

Wall Street Analyst Weigh In

URI has been the subject of several research reports. Oppenheimer reaffirmed a “market perform” rating on shares of United Rentals in a research report on Monday, April 29th. The Goldman Sachs Group increased their price target on shares of United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Stifel Nicolaus boosted their price objective on shares of United Rentals from $720.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Citigroup began coverage on United Rentals in a research report on Wednesday, June 26th. They set a “buy” rating and a $745.00 target price on the stock. Finally, Truist Financial reduced their price target on United Rentals from $796.00 to $785.00 and set a “buy” rating for the company in a research report on Tuesday. Three analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $637.67.

Insider Transactions at United Rentals

In other news, CEO Matthew John Flannery sold 8,379 shares of United Rentals stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total transaction of $5,862,199.77. Following the completion of the sale, the chief executive officer now directly owns 103,400 shares in the company, valued at $72,341,742. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, COO Michael D. Durand sold 559 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $674.56, for a total value of $377,079.04. Following the completion of the sale, the chief operating officer now directly owns 8,052 shares of the company’s stock, valued at $5,431,557.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew John Flannery sold 8,379 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total transaction of $5,862,199.77. Following the completion of the sale, the chief executive officer now owns 103,400 shares of the company’s stock, valued at approximately $72,341,742. The disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.

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.