United Rentals, Inc. (NYSE:URI) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in United Rentals, Inc. (NYSE:URI - Free Report) by 8.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,813 shares of the construction company's stock after buying an additional 596 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in United Rentals were worth $5,504,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of URI. Dynamic Advisor Solutions LLC grew its stake in shares of United Rentals by 23.7% in the third quarter. Dynamic Advisor Solutions LLC now owns 825 shares of the construction company's stock valued at $668,000 after buying an additional 158 shares in the last quarter. Atomi Financial Group Inc. grew its stake in United Rentals by 28.0% during the 3rd quarter. Atomi Financial Group Inc. now owns 562 shares of the construction company's stock worth $455,000 after purchasing an additional 123 shares in the last quarter. Brookstone Capital Management purchased a new stake in United Rentals during the 3rd quarter worth about $208,000. CWM LLC raised its position in United Rentals by 1.1% in the 3rd quarter. CWM LLC now owns 4,519 shares of the construction company's stock valued at $3,659,000 after purchasing an additional 48 shares in the last quarter. Finally, Cardinal Capital Management Inc. acquired a new position in shares of United Rentals in the 3rd quarter valued at $23,672,000. 96.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

URI has been the topic of several research analyst reports. Barclays boosted their price target on shares of United Rentals from $400.00 to $565.00 and gave the company an "underweight" rating in a research report on Friday, October 25th. Morgan Stanley reduced their price objective on United Rentals from $775.00 to $765.00 and set an "equal weight" rating for the company in a research note on Monday, February 3rd. Truist Financial restated a "buy" rating and set a $956.00 target price (down from $963.00) on shares of United Rentals in a research report on Friday, January 31st. JPMorgan Chase & Co. increased their price target on shares of United Rentals from $940.00 to $1,000.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Finally, Robert W. Baird upgraded shares of United Rentals from an "underperform" rating to a "neutral" rating and set a $658.00 price objective on the stock in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $814.08.

United Rentals Stock Performance

Shares of URI stock traded up $6.35 during trading hours on Tuesday, reaching $753.65. 301,760 shares of the company's stock were exchanged, compared to its average volume of 670,931. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92. The company's 50 day moving average is $750.63 and its two-hundred day moving average is $770.08. The company has a market cap of $49.22 billion, a P/E ratio of 19.45, a price-to-earnings-growth ratio of 1.54 and a beta of 1.68. United Rentals, Inc. has a 1 year low of $596.48 and a 1 year high of $896.98.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The construction company reported $11.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.65 by ($0.06). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. Equities research analysts anticipate that United Rentals, Inc. will post 44.93 EPS for the current fiscal year.

United Rentals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be issued a dividend of $1.79 per share. The ex-dividend date is Wednesday, February 12th. This represents a $7.16 dividend on an annualized basis and a yield of 0.95%. This is an increase from United Rentals's previous quarterly dividend of $1.63. United Rentals's payout ratio is currently 16.83%.

United Rentals 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.