Mitsubishi UFJ Asset Management Co. Ltd. Has $113.07 Million Stock Position in United Rentals, Inc. $URI

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in United Rentals, Inc. (NYSE:URI) by 3.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 133,798 shares of the construction company’s stock after acquiring an additional 5,023 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in United Rentals were worth $113,067,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in URI. Capital International Investors raised its holdings in shares of United Rentals by 22.8% during the third quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock worth $3,247,762,000 after acquiring an additional 631,484 shares during the period. Capital World Investors boosted its stake in United Rentals by 6.7% in the 3rd quarter. Capital World Investors now owns 2,678,614 shares of the construction company’s stock worth $2,557,158,000 after purchasing an additional 168,685 shares during the period. Franklin Resources Inc. increased its holdings in United Rentals by 6.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,315,086 shares of the construction company’s stock worth $1,255,460,000 after purchasing an additional 83,978 shares in the last quarter. Alliancebernstein L.P. increased its holdings in United Rentals by 5.6% during the 3rd quarter. Alliancebernstein L.P. now owns 1,088,209 shares of the construction company’s stock worth $1,038,870,000 after purchasing an additional 57,977 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of United Rentals by 2.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 948,386 shares of the construction company’s stock valued at $905,313,000 after purchasing an additional 26,847 shares during the period. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insider Buying and Selling

In other news, VP Andrew B. Limoges sold 548 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $977.86, for a total transaction of $535,867.28. Following the sale, the vice president owned 1,865 shares in the company, valued at $1,823,708.90. This represents a 22.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Craig Adam Pintoff sold 2,466 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $963.00, for a total value of $2,374,758.00. Following the completion of the sale, the executive vice president directly owned 14,774 shares of the company’s stock, valued at approximately $14,227,362. The trade was a 14.30% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 26,088 shares of company stock worth $25,628,877. 0.47% of the stock is currently owned by company insiders.

Analyst Ratings Changes

URI has been the subject of several recent research reports. Morgan Stanley reaffirmed an “overweight” rating and set a $1,030.00 price objective on shares of United Rentals in a research report on Friday, April 24th. Truist Financial set a $1,209.00 target price on United Rentals in a research report on Friday, April 24th. Citigroup boosted their target price on United Rentals from $950.00 to $1,130.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Weiss Ratings cut shares of United Rentals from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday. Finally, Wells Fargo & Company lifted their price objective on shares of United Rentals from $995.00 to $1,071.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. Thirteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, United Rentals presently has an average rating of “Moderate Buy” and a consensus target price of $986.35.

United Rentals Trading Up 3.3%

United Rentals stock opened at $964.75 on Thursday. The company has a market cap of $60.44 billion, a price-to-earnings ratio of 24.61, a P/E/G ratio of 1.49 and a beta of 1.83. The firm has a 50-day moving average of $804.30 and a 200-day moving average of $839.18. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.74. United Rentals, Inc. has a one year low of $647.05 and a one year high of $1,021.47.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.20 billion. During the same period in the prior year, the firm posted $8.86 EPS. United Rentals’s revenue was up 7.2% compared to the same quarter last year. On average, equities analysts expect that United Rentals, Inc. will post 46.99 earnings per share for the current fiscal year.

United Rentals announced that its Board of Directors has initiated a stock buyback plan on Wednesday, January 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the construction company to purchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th will be given a dividend of $1.97 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $7.88 annualized dividend and a dividend yield of 0.8%. United Rentals’s payout ratio is 20.10%.

United Rentals Company Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.