Weiss Asset Management LP Makes New $3.68 Million Investment in United Rentals, Inc. (NYSE:URI)

Weiss Asset Management LP acquired a new position in United Rentals, Inc. (NYSE:URI) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,538 shares of the construction company’s stock, valued at approximately $3,675,000.

Other large investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its stake 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 worth $7,492,000 after acquiring an additional 964 shares during the last quarter. Essex Financial Services Inc. lifted its holdings 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 worth $364,000 after buying an additional 136 shares during the period. Retireful LLC purchased a new stake in shares of United Rentals in the 3rd quarter worth $697,000. Mizuho Securities USA LLC lifted its holdings in shares of United Rentals by 1,067.5% in the 3rd 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, Waverton Investment Management Ltd lifted its holdings in shares of United Rentals by 1.2% in the 3rd quarter. Waverton Investment Management Ltd now owns 210,588 shares of the construction company’s stock worth $170,392,000 after buying an additional 2,497 shares during the period. Institutional investors own 96.26% of the company’s stock.

Insiders Place Their Bets

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 2,044 shares of the company’s stock, valued at $1,682,702.56. This represents a 30.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.53% of the stock is currently owned by company insiders.

United Rentals Stock Up 0.5 %

Shares of URI stock opened at $859.30 on Friday. The stock’s 50-day simple moving average is $834.23 and its 200-day simple moving average is $743.47. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.77 and a current ratio of 0.82. The firm has a market capitalization of $56.39 billion, a PE ratio of 22.44, a P/E/G ratio of 2.04 and a beta of 1.66. United Rentals, Inc. has a fifty-two week low of $475.52 and a fifty-two week high of $896.98.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, October 23rd. The construction company reported $11.80 earnings per share 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 posted $11.73 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities analysts expect that United Rentals, Inc. will post 43.46 earnings per share for the current year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a dividend of $1.63 per share. The ex-dividend date was Wednesday, November 13th. This represents a $6.52 dividend on an annualized basis and a yield of 0.76%. United Rentals’s dividend payout ratio is currently 17.03%.

Analysts Set New Price Targets

URI has been the subject of several recent research reports. Robert W. Baird boosted their price target on United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research report on Thursday, October 3rd. Bank of America boosted their price target on United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Citigroup boosted their price target on United Rentals from $930.00 to $955.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Argus boosted their price target on United Rentals from $840.00 to $880.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. boosted 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. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $767.86.

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.