Sumitomo Mitsui Trust Group Inc. Sells 4,686 Shares of United Rentals, Inc. $URI

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of United Rentals, Inc. (NYSE:URI) by 3.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,411 shares of the construction company’s stock after selling 4,686 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in United Rentals were worth $131,514,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Clal Insurance Enterprises Holdings Ltd purchased a new position in United Rentals in the 2nd quarter worth approximately $29,000. MidFirst Bank acquired a new position in shares of United Rentals during the 2nd quarter worth approximately $31,000. Bell Investment Advisors Inc acquired a new position in shares of United Rentals during the 2nd quarter worth approximately $40,000. Laurel Wealth Advisors LLC purchased a new stake in shares of United Rentals in the third quarter valued at approximately $40,000. Finally, Frazier Financial Advisors LLC grew its position in shares of United Rentals by 33.3% in the first quarter. Frazier Financial Advisors LLC now owns 56 shares of the construction company’s stock valued at $41,000 after purchasing an additional 14 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Stock Up 0.4%

Shares of URI opened at $1,175.10 on Tuesday. The company’s 50-day moving average price is $1,050.72 and its 200 day moving average price is $971.88. United Rentals, Inc. has a 12-month low of $701.59 and a 12-month high of $1,202.12. The company has a current ratio of 0.80, a quick ratio of 0.73 and a debt-to-equity ratio of 1.35. The firm has a market cap of $72.76 billion, a P/E ratio of 25.83, a price-to-earnings-growth ratio of 1.66 and a beta of 1.83.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, October 21st. The construction company reported $15.55 earnings per share for the quarter, topping the consensus estimate of $13.97 by $1.58. United Rentals had a net margin of 16.33% and a return on equity of 33.47%. The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.71 billion. During the same quarter last year, the firm posted $11.70 earnings per share. United Rentals’s revenue was up 15.7% compared to the same quarter last year. On average, sell-side analysts forecast that United Rentals, Inc. will post 51.17 earnings per share for the current year.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Wednesday, November 11th will be issued a $1.97 dividend. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, November 10th. United Rentals’s dividend payout ratio is currently 17.32%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on URI. UBS Group increased their price target on United Rentals from $1,350.00 to $1,450.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of United Rentals in a research report on Wednesday, October 21st. Royal Bank Of Canada boosted their price objective on United Rentals from $1,323.00 to $1,392.00 and gave the stock an “outperform” rating in a research note on Friday, October 23rd. Citigroup reissued a “buy” rating on shares of United Rentals in a research note on Monday, September 14th. Finally, Sanford C. Bernstein set a $1,258.00 target price on United Rentals in a report on Friday, October 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,292.88.

United Rentals Company Profile

United Rentals, Inc is an equipment rental company serving construction, industrial, infrastructure, utilities, government and other commercial customers. The company provides access to equipment and related services through a network of rental locations, helping customers manage projects without purchasing and maintaining all of the equipment they need.

Its rental fleet includes aerial work platforms, earthmoving equipment, material-handling equipment, general construction tools, trucks and trailers, and light-duty equipment.