Sumitomo Mitsui DS Asset Management Company Ltd Raises Position in United Rentals, Inc. (NYSE:URI)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of United Rentals, Inc. (NYSE:URI) by 0.8% during the fourth quarter, Holdings Channel reports. The fund owned 6,879 shares of the construction company’s stock after acquiring an additional 57 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in United Rentals were worth $3,945,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. OFI Invest Asset Management acquired a new position in United Rentals during the 3rd quarter worth $25,000. AdvisorNet Financial Inc raised its holdings in United Rentals by 71.4% in the fourth quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock valued at $28,000 after acquiring an additional 20 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of United Rentals in the 3rd quarter valued at $29,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in United Rentals in the third quarter valued at $40,000. Finally, Arlington Trust Co LLC lifted its holdings in United Rentals by 50.0% during the 4th quarter. Arlington Trust Co LLC now owns 84 shares of the construction company’s stock worth $48,000 after buying an additional 28 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO William E. Grace sold 775 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $655.62, for a total transaction of $508,105.50. Following the transaction, the chief financial officer now directly owns 6,323 shares of the company’s stock, valued at approximately $4,145,485.26. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.49% of the stock is currently owned by company insiders.

United Rentals Price Performance

Shares of NYSE URI opened at $629.30 on Tuesday. The stock has a fifty day moving average price of $679.24 and a 200 day moving average price of $573.90. United Rentals, Inc. has a 1-year low of $325.15 and a 1-year high of $732.37. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.81 and a quick ratio of 0.75. The company has a market cap of $42.27 billion, a PE ratio of 17.80, a P/E/G ratio of 2.18 and a beta of 1.84.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, January 24th. The construction company reported $11.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.85 by $0.41. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.63 billion. United Rentals had a net margin of 16.91% and a return on equity of 36.80%. The business’s revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the business posted $9.74 earnings per share. Sell-side analysts forecast that United Rentals, Inc. will post 43.13 EPS for the current year.

United Rentals declared that its Board of Directors has authorized a stock repurchase program on Wednesday, January 24th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 3.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

United Rentals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Tuesday, February 13th. This is a positive change from United Rentals’s previous quarterly dividend of $1.48. United Rentals’s dividend payout ratio is currently 18.44%.

Wall Street Analysts Forecast Growth

URI has been the topic of several research analyst reports. Barclays raised their target price on United Rentals from $325.00 to $400.00 and gave the stock an “underweight” rating in a research report on Friday, January 26th. Wells Fargo & Company raised their price objective on shares of United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Robert W. Baird boosted their price objective on shares of United Rentals from $322.00 to $559.00 and gave the stock an “underperform” rating in a research report on Friday, January 26th. BNP Paribas reaffirmed an “underperform” rating and issued a $485.00 target price on shares of United Rentals in a research report on Friday, January 5th. Finally, Morgan Stanley started coverage on shares of United Rentals in a research report on Monday, January 8th. They issued an “equal weight” rating and a $500.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, United Rentals presently has a consensus rating of “Hold” and a consensus target price of $589.21.

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.