The Manufacturers Life Insurance Company Acquires 66,957 Shares of United Rentals, Inc. (NYSE:URI)

The Manufacturers Life Insurance Company grew its holdings in United Rentals, Inc. (NYSE:URI) by 10.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 704,145 shares of the construction company’s stock after acquiring an additional 66,957 shares during the quarter. The Manufacturers Life Insurance Company owned 1.07% of United Rentals worth $570,167,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. lifted its position in United Rentals by 11.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,203 shares of the construction company’s stock valued at $7,492,000 after acquiring an additional 964 shares in the last quarter. Essex Financial Services Inc. raised its stake in shares of United Rentals by 31.9% in the 2nd quarter. Essex Financial Services Inc. now owns 563 shares of the construction company’s stock valued at $364,000 after purchasing an additional 136 shares during the period. Retireful LLC bought a new stake in shares of United Rentals in the third quarter valued at about $697,000. Mizuho Securities USA LLC boosted its position in shares of United Rentals by 1,067.5% during the third quarter. Mizuho Securities USA LLC now owns 59,879 shares of the construction company’s stock worth $48,486,000 after buying an additional 54,750 shares during the period. Finally, Tidal Investments LLC grew its holdings in shares of United Rentals by 241.2% during the first quarter. Tidal Investments LLC now owns 4,859 shares of the construction company’s stock worth $3,504,000 after buying an additional 3,435 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on URI shares. JPMorgan Chase & Co. upped their price target on United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Argus increased their target price on shares of United Rentals from $840.00 to $880.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Barclays raised their target price on shares of United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Bank of America boosted their price target on shares of United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Truist Financial raised their price objective on United Rentals from $954.00 to $955.00 and gave the company a “buy” rating in a report on Friday, October 25th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $751.67.

Insider Buying and Selling at United Rentals

In other news, SVP Anthony S. Leopold sold 900 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $823.24, for a total transaction of $740,916.00. Following the completion of the sale, the senior vice president now directly owns 2,044 shares in the company, valued at approximately $1,682,702.56. This represents a 30.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.49% of the company’s stock.

United Rentals Price Performance

United Rentals stock opened at $864.39 on Tuesday. The company has a market capitalization of $56.72 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 1.99 and a beta of 1.68. The stock’s 50 day moving average is $821.86 and its 200-day moving average is $733.58. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38. United Rentals, Inc. has a 12 month low of $454.71 and a 12 month high of $896.98.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the company earned $11.73 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities research analysts expect that United Rentals, Inc. will post 43.46 EPS for the current year.

United Rentals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Wednesday, November 13th. United Rentals’s dividend payout ratio (DPR) is 17.03%.

United Rentals Company 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.