United Rentals, Inc. (NYSE:URI) Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. cut its stake in United Rentals, Inc. (NYSE:URI) by 35.6% during the 4th quarter, HoldingsChannel reports. The firm 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 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Adell Harriman & Carpenter Inc. boosted its holdings in United Rentals by 1.8% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 814 shares of the construction company’s stock worth $573,000 after acquiring an additional 14 shares during the period. Valmark Advisers Inc. boosted its stake in shares of United Rentals by 1.8% in the fourth quarter. Valmark Advisers Inc. now owns 788 shares of the construction company’s stock valued at $555,000 after purchasing an additional 14 shares during the period. Erste Asset Management GmbH grew its holdings in United Rentals by 0.5% during the 4th quarter. Erste Asset Management GmbH now owns 2,794 shares of the construction company’s stock valued at $2,002,000 after purchasing an additional 14 shares in the last quarter. Klingman & Associates LLC increased its stake in United Rentals by 2.3% during the 4th quarter. Klingman & Associates LLC now owns 669 shares of the construction company’s stock worth $471,000 after buying an additional 15 shares during the period. Finally, Moody National Bank Trust Division lifted its holdings in United Rentals by 4.5% in the 4th quarter. Moody National Bank Trust Division now owns 368 shares of the construction company’s stock worth $259,000 after buying an additional 16 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Stock Performance

Shares of NYSE URI opened at $627.10 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. The firm’s 50-day moving average price is $686.97 and its two-hundred day moving average price is $754.94. United Rentals, Inc. has a 52-week low of $585.27 and a 52-week high of $896.98. The stock has a market capitalization of $40.97 billion, a P/E ratio of 16.18, a P/E/G ratio of 1.43 and a beta of 1.76.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, January 29th. The construction company reported $11.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.65 by ($0.06). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. As a group, sell-side analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders 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 yield of 1.14%. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Wednesday, February 12th. United Rentals’s payout ratio is presently 18.48%.

Analyst Ratings Changes

URI has been the topic of a number of analyst reports. Truist Financial reaffirmed a “buy” rating and set a $956.00 target price (down from $963.00) on shares of United Rentals in a research report on Friday, January 31st. Sanford C. Bernstein raised United Rentals from an “underperform” rating to a “market perform” rating and cut their target price for the company from $705.00 to $666.00 in a research report on Tuesday, March 25th. Evercore ISI reduced their target price on United Rentals from $1,004.00 to $974.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Robert W. Baird upgraded shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price target for the company in a research note on Tuesday, January 14th. Finally, Citigroup reduced their price objective on shares of United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $804.15.

Insiders Place Their Bets

In other news, CFO William E. Grace sold 1,100 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 6,880 shares in the company, valued at approximately $4,390,128. The trade was a 13.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.53% of the stock is owned by insiders.

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.