Daiichi Life Insurance Co. Ltd. Purchases New Position in United Rentals, Inc. $URI

Daiichi Life Insurance Co. Ltd. acquired a new position in United Rentals, Inc. (NYSE:URI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,291 shares of the construction company’s stock, valued at approximately $8,260,000.

Several other institutional investors also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in United Rentals during the 2nd quarter valued at $5,816,326,000. Capital World Investors grew its position in shares of United Rentals by 1.1% during the 4th quarter. Capital World Investors now owns 2,708,877 shares of the construction company’s stock worth $2,192,357,000 after buying an additional 30,263 shares in the last quarter. Franklin Resources Inc. grew its position in shares of United Rentals by 2.2% during the 4th quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company’s stock worth $1,087,711,000 after buying an additional 28,895 shares in the last quarter. Norges Bank bought a new position in shares of United Rentals during the 4th quarter worth $978,017,000. Finally, Bank of America Corp DE increased its stake in shares of United Rentals by 14.7% during the first quarter. Bank of America Corp DE now owns 806,380 shares of the construction company’s stock valued at $587,496,000 after buying an additional 103,371 shares during the period. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

URI has been the subject of several recent research reports. Argus restated a “buy” rating and issued a $1,250.00 price objective on shares of United Rentals in a report on Tuesday, August 4th. Truist Financial increased their target price on shares of United Rentals from $1,421.00 to $1,466.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Citigroup raised their target price on shares of United Rentals from $1,270.00 to $1,330.00 and gave the company a “buy” rating in a research report on Friday, July 24th. BNP Paribas Exane upgraded shares of United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price target for the company in a report on Monday, June 29th. Finally, JPMorgan Chase & Co. upped their price target on shares of United Rentals from $1,100.00 to $1,235.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,246.19.

Insider Buying and Selling at United Rentals

In other news, EVP William E. Grace sold 1,500 shares of the firm’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the sale, the executive vice president directly owned 6,062 shares in the company, valued at approximately $6,869,155.30. This trade represents a 19.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.47% of the company’s stock.

United Rentals Trading Down 0.0%

URI opened at $1,095.21 on Friday. The firm has a market cap of $68.17 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 1.42 and a beta of 1.80. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38. United Rentals, Inc. has a 12 month low of $701.59 and a 12 month high of $1,179.18. The stock has a fifty day moving average price of $1,099.22 and a 200-day moving average price of $949.51.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, beating analysts’ consensus estimates of $11.53 by $1.23. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The company had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter last year, the company earned $10.47 earnings per share. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, equities research analysts anticipate that United Rentals, Inc. will post 48.55 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be given a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, August 12th. United Rentals’s dividend payout ratio is presently 18.92%.

About United Rentals

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.