Mitsubishi UFJ Asset Management Co. Ltd. Purchases 7,465 Shares of United Rentals, Inc. (NYSE:URI)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in United Rentals, Inc. (NYSE:URI) by 7.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 105,045 shares of the construction company’s stock after purchasing an additional 7,465 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of United Rentals worth $73,039,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new position in United Rentals in the 4th quarter worth about $171,733,000. Raymond James Financial Inc. purchased a new position in shares of United Rentals during the fourth quarter worth about $164,493,000. TD Asset Management Inc. increased its position in shares of United Rentals by 207.8% in the fourth quarter. TD Asset Management Inc. now owns 234,366 shares of the construction company’s stock worth $165,097,000 after purchasing an additional 158,214 shares during the last quarter. JPMorgan Chase & Co. raised its stake in United Rentals by 15.4% in the third quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock valued at $637,968,000 after purchasing an additional 105,287 shares in the last quarter. Finally, National Pension Service lifted its position in United Rentals by 79.8% during the fourth quarter. National Pension Service now owns 167,813 shares of the construction company’s stock valued at $118,214,000 after purchasing an additional 74,479 shares during the last quarter. Hedge funds and other institutional investors 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 current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42. The company has a 50-day moving average price of $686.97 and a 200-day moving average price of $754.58. The company has a market cap of $40.95 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 1.43 and a beta of 1.76. United Rentals, Inc. has a 12 month low of $585.27 and a 12 month high of $896.98.

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

United Rentals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a $1.79 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.16 annualized dividend and a yield of 1.14%. This is a boost from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s payout ratio is 18.48%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on URI shares. JPMorgan Chase & Co. raised their price objective on shares of United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Bank of America lowered their price target on United Rentals from $850.00 to $750.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Baird R W upgraded United Rentals from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 14th. Robert W. Baird raised United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price objective on the stock in a report on Tuesday, January 14th. Finally, 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $804.15.

Insider Buying and Selling at United Rentals

In other news, CFO William E. Grace sold 1,100 shares of United Rentals stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $638.10, for a total transaction of $701,910.00. Following the sale, the chief financial officer now owns 6,880 shares of the company’s stock, valued at approximately $4,390,128. The trade was a 13.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.53% of the company’s stock.

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.