Dai ichi Life Insurance Company Ltd Has $2.85 Million Position in United Rentals, Inc. $URI

Dai ichi Life Insurance Company Ltd lessened its position in shares of United Rentals, Inc. (NYSE:URI) by 51.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,906 shares of the construction company’s stock after selling 4,134 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in United Rentals were worth $2,846,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Gabelli Funds LLC lifted its stake in United Rentals by 10.2% during the first quarter. Gabelli Funds LLC now owns 43,967 shares of the construction company’s stock worth $32,033,000 after purchasing an additional 4,067 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in shares of United Rentals by 0.9% in the 1st quarter. Gamco Investors INC. ET AL now owns 31,521 shares of the construction company’s stock valued at $22,965,000 after purchasing an additional 290 shares during the last quarter. Modern Wealth Management LLC bought a new position in shares of United Rentals in the 1st quarter valued at $209,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of United Rentals by 81.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 230,238 shares of the construction company’s stock worth $167,742,000 after buying an additional 103,039 shares in the last quarter. Finally, Caxton Associates LLP acquired a new position in shares of United Rentals during the 1st quarter worth $3,056,000. 96.26% of the stock is owned by institutional investors.

Key United Rentals News

Here are the key news stories impacting United Rentals this week:

• Positive Sentiment: JPMorgan raised its price target on United Rentals to $1,235 and kept an overweight rating, signaling confidence in continued upside. JPMorgan price target increase
• Positive Sentiment: Truist boosted its target to $1,466 and maintained a buy rating, reflecting a more optimistic view of URI’s earnings power and demand trends. Truist price target increase
• Positive Sentiment: Citigroup raised its target to $1,330 with a buy rating after the company’s strong Q2 results and improved guidance. Citigroup price target increase
• Positive Sentiment: Bank of America increased its target to $1,300 and reiterated a buy rating, adding to the positive analyst momentum around the stock. Bank of America price target increase
• Positive Sentiment: United Rentals reported Q2 earnings of $12.76 per share and revenue of $4.41 billion, both ahead of expectations, and raised full-year guidance on stronger rental growth and demand. Q2 earnings beat and guidance raise
• Neutral Sentiment: The company also declared a quarterly dividend of $1.97 per share, which is a modest shareholder-return update but not likely the main driver of today’s trading. Dividend announcement

United Rentals Stock Performance

Shares of URI stock opened at $1,140.19 on Friday. The firm has a market capitalization of $70.97 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 1.82 and a beta of 1.79. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 1.38. The business’s 50-day moving average price is $1,052.87 and its 200-day moving average price is $919.10. United Rentals, Inc. has a 12 month low of $701.59 and a 12 month high of $1,177.67.

United Rentals (NYSE:URI) last released its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.53 by $1.23. The company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The firm’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $10.47 earnings per share. Equities research analysts forecast that United Rentals, Inc. will post 47.32 EPS for the current year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be paid a dividend of $1.97 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. United Rentals’s dividend payout ratio (DPR) is presently 18.92%.

Analyst Upgrades and Downgrades

URI has been the topic of several research analyst reports. Robert W. Baird set a $1,300.00 price objective on United Rentals in a research note on Friday. JPMorgan Chase & Co. increased their target price on shares of United Rentals from $1,100.00 to $1,235.00 and gave the stock an “overweight” rating in a report on Friday. UBS Group reaffirmed a “buy” rating and set a $1,350.00 price target on shares of United Rentals in a report on Thursday. Wall Street Zen upgraded shares of United Rentals from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, BNP Paribas Exane raised shares of United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price objective for the company in a research note on Monday, June 29th. Fifteen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,226.50.

Insider Buying and Selling at United Rentals

In related news, SVP Joli L. Gross sold 306 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $954.99, for a total transaction of $292,226.94. Following the completion of the transaction, the senior vice president directly owned 5,738 shares of the company’s stock, valued at $5,479,732.62. This trade represents a 5.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Craig Adam Pintoff sold 2,466 shares of United Rentals stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $963.00, for a total value of $2,374,758.00. Following the transaction, the executive vice president directly owned 14,774 shares in the company, valued at $14,227,362. The trade was a 14.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.47% of the stock is currently owned by company insiders.

About United Rentals

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.