Nomura Asset Management Co. Ltd. Buys 1,102 Shares of United Rentals, Inc. (NYSE:URI)

Nomura Asset Management Co. Ltd. grew its stake in United Rentals, Inc. (NYSE:URI - Free Report) by 2.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,253 shares of the construction company's stock after purchasing an additional 1,102 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.06% of United Rentals worth $32,594,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in United Rentals by 11.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,203 shares of the construction company's stock worth $7,492,000 after purchasing an additional 964 shares in the last quarter. Essex Financial Services Inc. boosted its holdings in shares of United Rentals by 31.9% in the 2nd quarter. Essex Financial Services Inc. now owns 563 shares of the construction company's stock valued at $364,000 after buying an additional 136 shares during the last quarter. Retireful LLC bought a new position in shares of United Rentals in the 3rd quarter valued at about $697,000. Mizuho Securities USA LLC raised its stake in United Rentals by 1,067.5% in the 3rd quarter. Mizuho Securities USA LLC now owns 59,879 shares of the construction company's stock valued at $48,486,000 after acquiring an additional 54,750 shares during the period. Finally, Waverton Investment Management Ltd raised its holdings in United Rentals by 1.2% in the 3rd quarter. Waverton Investment Management Ltd now owns 210,588 shares of the construction company's stock valued at $170,392,000 after acquiring an additional 2,497 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at United Rentals

In related news, SVP Anthony S. Leopold sold 900 shares of the business's stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $823.24, for a total value of $740,916.00. Following the completion of the transaction, the senior vice president now directly owns 2,044 shares in the company, valued at $1,682,702.56. The trade was a 30.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on URI shares. JPMorgan Chase & Co. boosted their price objective on shares of United Rentals from $780.00 to $940.00 and gave the company an "overweight" rating in a report on Monday, September 23rd. Argus raised their price target on shares of United Rentals from $840.00 to $880.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. Truist Financial boosted 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. Barclays upped their target price on shares of United Rentals from $400.00 to $565.00 and gave the stock an "underweight" rating in a research note on Friday, October 25th. Finally, Robert W. Baird raised their target price on United Rentals from $565.00 to $650.00 and gave the company an "underperform" rating in a research report on Thursday, October 3rd. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, United Rentals presently has an average rating of "Hold" and a consensus target price of $770.00.

United Rentals Trading Down 4.7 %

Shares of URI stock traded down $39.66 on Tuesday, hitting $796.23. 966,777 shares of the company's stock traded hands, compared to its average volume of 545,209. The stock has a market capitalization of $52.25 billion, a price-to-earnings ratio of 20.79, a P/E/G ratio of 2.01 and a beta of 1.66. United Rentals, Inc. has a one year low of $491.60 and a one year high of $896.98. The company's fifty day simple moving average is $834.54 and its 200 day simple moving average is $746.30. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.77 and a current ratio of 0.82.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly 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 return on equity of 34.73% and a net margin of 17.12%. The business had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $4.01 billion. During the same period in the previous year, the business earned $11.73 EPS. The business's revenue was up 6.0% compared to the same quarter last year. Equities analysts forecast that United Rentals, Inc. will post 43.46 EPS for the current year.

United Rentals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.82%. The ex-dividend date was Wednesday, November 13th. United Rentals's payout ratio is currently 17.03%.

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.