Resona Asset Management Co. Ltd. Makes New $14.07 Million Investment in United Rentals, Inc. (NYSE:URI)

Resona Asset Management Co. Ltd. bought a new stake in United Rentals, Inc. (NYSE:URI) during the 4th quarter, HoldingsChannel.com reports. The firm bought 19,923 shares of the construction company’s stock, valued at approximately $14,071,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC purchased a new stake in shares of United Rentals during the fourth quarter worth $25,000. ORG Wealth Partners LLC acquired a new position in United Rentals during the fourth quarter worth about $26,000. Murphy & Mullick Capital Management Corp purchased a new stake in United Rentals during the 4th quarter valued at about $27,000. Meeder Asset Management Inc. raised its holdings in United Rentals by 241.7% in the 4th quarter. Meeder Asset Management Inc. now owns 41 shares of the construction company’s stock valued at $29,000 after acquiring an additional 29 shares during the last quarter. Finally, Hanson & Doremus Investment Management purchased a new position in United Rentals in the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Wall Street Analyst Weigh In

URI has been the subject of a number of analyst reports. Robert W. Baird upgraded United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price target for the company in a research report on Tuesday, January 14th. Evercore ISI cut 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. Morgan Stanley lowered their price target on shares of United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Baird R W upgraded shares of United Rentals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Bank of America decreased their target price on shares of United Rentals from $850.00 to $750.00 and set a “buy” rating on the stock in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, United Rentals currently has a consensus rating of “Moderate Buy” and an average target price of $804.15.

United Rentals Stock Down 4.5 %

Shares of NYSE URI opened at $564.56 on Monday. 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 business’s 50 day moving average is $669.75 and its two-hundred day moving average is $750.57. United Rentals, Inc. has a 52-week low of $537.36 and a 52-week high of $896.98. The firm has a market cap of $36.88 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 1.43 and a beta of 1.72.

United Rentals (NYSE:URI) last posted its quarterly earnings data 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 net margin of 16.78% and a return on equity of 34.21%. Research analysts predict that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a $1.79 dividend. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. The ex-dividend date was Wednesday, February 12th. This represents a $7.16 annualized dividend and a dividend yield of 1.27%. United Rentals’s dividend payout ratio (DPR) is presently 18.48%.

Insider Activity at United Rentals

In other United Rentals news, CFO William E. Grace sold 1,100 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $638.10, for a total value of $701,910.00. Following the completion of the transaction, the chief financial officer now owns 6,880 shares of the company’s stock, valued at $4,390,128. This trade represents a 13.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.53% of the company’s stock.

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.