United Rentals, Inc. (NYSE:URI) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in United Rentals, Inc. (NYSE:URI) by 1.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 197,013 shares of the construction company’s stock after selling 2,717 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in United Rentals were worth $142,068,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. First Financial Corp IN acquired a new position in shares of United Rentals during the 1st quarter worth $25,000. AdvisorNet Financial Inc raised its holdings in United Rentals by 71.4% during the fourth quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock valued at $28,000 after buying an additional 20 shares in the last quarter. Rise Advisors LLC acquired a new stake in shares of United Rentals in the first quarter worth about $28,000. Riverview Trust Co bought a new stake in shares of United Rentals during the 1st quarter worth about $31,000. Finally, Private Wealth Management Group LLC acquired a new position in United Rentals during the fourth quarter valued at approximately $34,000. Institutional investors own 96.26% of the company’s stock.

United Rentals Price Performance

NYSE URI traded up $11.06 during trading on Wednesday, reaching $656.94. 116,161 shares of the company traded hands, compared to its average volume of 569,874. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.83 and a current ratio of 0.89. The company has a market cap of $43.75 billion, a price-to-earnings ratio of 17.49, a P/E/G ratio of 2.12 and a beta of 1.71. United Rentals, Inc. has a 1-year low of $387.01 and a 1-year high of $732.37. The stock’s 50 day moving average price is $660.29 and its two-hundred day moving average price is $646.84.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.35 by $0.80. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The firm had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.44 billion. During the same period in the prior year, the company posted $7.95 earnings per share. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, analysts anticipate that United Rentals, Inc. will post 43.71 EPS for the current year.

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $6.52 annualized dividend and a dividend yield of 0.99%. United Rentals’s payout ratio is currently 17.66%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on URI shares. The Goldman Sachs Group lifted their price objective on United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Stifel Nicolaus upped their price target on United Rentals from $720.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Truist Financial lowered their price objective on shares of United Rentals from $796.00 to $785.00 and set a “buy” rating on the stock in a research note on Tuesday. Citigroup assumed coverage on shares of United Rentals in a research report on Wednesday, June 26th. They set a “buy” rating and a $745.00 target price on the stock. Finally, JPMorgan Chase & Co. started coverage on shares of United Rentals in a report on Friday, June 7th. They issued an “overweight” rating and a $780.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $637.67.

Insider Activity

In other United Rentals news, CEO Matthew John Flannery sold 8,379 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total value of $5,862,199.77. Following the completion of the transaction, the chief executive officer now directly owns 103,400 shares of the company’s stock, valued at $72,341,742. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other United Rentals news, CEO Matthew John Flannery sold 8,379 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total value of $5,862,199.77. Following the completion of the transaction, the chief executive officer now directly owns 103,400 shares in the company, valued at $72,341,742. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Michael D. Durand sold 559 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $674.56, for a total value of $377,079.04. Following the completion of the sale, the chief operating officer now directly owns 8,052 shares of the company’s stock, valued at approximately $5,431,557.12. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by company insiders.

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.