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

The Manufacturers Life Insurance Company boosted its holdings in shares of United Rentals, Inc. (NYSE:URI) by 10.5% in the 3rd quarter, Holdings Channel reports. The firm owned 704,145 shares of the construction company’s stock after buying an additional 66,957 shares during the period. The Manufacturers Life Insurance Company’s holdings in United Rentals were worth $570,167,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of United Rentals stock in a transaction on Monday, October 28th. The shares were sold at an average price of $823.24, for a total value of $740,916.00. Following the completion of the sale, the senior vice president now directly owns 2,044 shares of the company’s stock, valued at approximately $1,682,702.56. The trade was a 30.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.49% of the stock is currently owned by corporate insiders.

United Rentals Stock Performance

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

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

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a dividend of $1.63 per share. The ex-dividend date is Wednesday, November 13th. This represents a $6.52 annualized dividend and a yield of 0.75%. United Rentals’s dividend payout ratio is currently 17.03%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on URI shares. Barclays lifted their price target on shares of United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Evercore ISI boosted their target price on shares of United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Argus increased their price target on United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Robert W. Baird boosted their price objective on United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research report on Thursday, October 3rd. Finally, Citigroup upped their target price on United Rentals from $930.00 to $955.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $751.67.

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.