Nomura Asset Management Co. Ltd. Reduces Holdings in United Rentals, Inc. (NYSE:URI)

Nomura Asset Management Co. Ltd. lowered its stake in United Rentals, Inc. (NYSE:URI - Free Report) by 35.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,940 shares of the construction company's stock after selling 14,313 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in United Rentals were worth $18,273,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Rialto Wealth Management LLC purchased a new position in shares of United Rentals during the 4th quarter worth approximately $25,000. ORG Wealth Partners LLC acquired a new stake in shares of United Rentals in the fourth quarter valued at $26,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of United Rentals in the 4th quarter valued at $27,000. Hanson & Doremus Investment Management acquired a new stake in shares of United Rentals during the fourth quarter worth about $33,000. Finally, Kestra Investment Management LLC purchased a new position in shares of United Rentals in the fourth quarter valued at approximately $34,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Stock Performance

United Rentals stock traded down $56.72 during mid-day trading on Thursday, reaching $589.45. 239,256 shares of the company were exchanged, compared to its average volume of 566,931. The firm has a market cap of $38.51 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 1.43 and a beta of 1.76. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.92 and a current ratio of 0.98. The firm's 50-day simple moving average is $678.19 and its two-hundred day simple moving average is $753.23. United Rentals, Inc. has a twelve month low of $585.27 and a twelve month high of $896.98.

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United Rentals (NYSE:URI - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The construction company reported $11.59 earnings per share for the quarter, missing analysts' consensus estimates of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. Equities analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 1.21%. This is a positive change from United Rentals's previous quarterly dividend of $1.63. The ex-dividend date was Wednesday, February 12th. United Rentals's payout ratio is 18.48%.

Insider Activity at United Rentals

In related news, CFO William E. Grace sold 1,100 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $638.10, for a total transaction of $701,910.00. Following the transaction, the chief financial officer now owns 6,880 shares of the company's stock, valued at $4,390,128. This represents a 13.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.53% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on URI shares. Evercore ISI reduced their target price on shares of United Rentals from $1,004.00 to $974.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Morgan Stanley decreased their price target on shares of 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. Robert W. Baird raised 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 report on Tuesday, January 14th. Sanford C. Bernstein raised shares of United Rentals from an "underperform" rating to a "market perform" rating and decreased their price objective for the stock from $705.00 to $666.00 in a research report on Tuesday, March 25th. Finally, Bank of America dropped their target price on United Rentals from $850.00 to $750.00 and set a "buy" rating on the stock in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, United Rentals currently has an average rating of "Moderate Buy" and a consensus price target of $804.15.

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.