United Rentals, Inc. (NYSE:URI) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its position in shares of United Rentals, Inc. (NYSE:URI) by 6.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 659,779 shares of the construction company’s stock after selling 44,366 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in United Rentals were worth $464,775,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Norges Bank acquired a new stake in United Rentals during the 4th quarter worth approximately $695,716,000. Capital World Investors increased its position in shares of United Rentals by 17.1% in the fourth quarter. Capital World Investors now owns 2,221,228 shares of the construction company’s stock worth $1,564,722,000 after acquiring an additional 323,636 shares in the last quarter. Capital International Investors increased its position in shares of United Rentals by 41.0% in the fourth quarter. Capital International Investors now owns 1,051,365 shares of the construction company’s stock worth $740,624,000 after acquiring an additional 305,491 shares in the last quarter. Marshall Wace LLP raised its stake in shares of United Rentals by 105.6% in the 4th quarter. Marshall Wace LLP now owns 546,165 shares of the construction company’s stock valued at $384,740,000 after acquiring an additional 280,502 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of United Rentals during the 4th quarter valued at $171,733,000. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

United Rentals Stock Performance

Shares of United Rentals stock opened at $634.70 on Monday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.92 and a current ratio of 0.98. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year high of $896.98. The firm’s 50-day simple moving average is $615.93 and its 200-day simple moving average is $725.87. The firm has a market cap of $41.47 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 1.43 and a beta of 1.72.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, April 23rd. The construction company reported $8.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.92 by ($0.06). The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.61 billion. United Rentals had a net margin of 16.78% and a return on equity of 34.21%. Equities analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th will be issued a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Wednesday, May 14th. United Rentals’s dividend payout ratio is presently 18.54%.

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 value of $701,910.00. Following the completion of the transaction, the chief financial officer now directly 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.53% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on URI. Morgan Stanley raised United Rentals from an “equal weight” rating to an “overweight” rating and set a $702.00 price objective on the stock in a research report on Wednesday, April 16th. Evercore ISI dropped their target price on United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Truist Financial upped their price target on United Rentals from $732.00 to $786.00 and gave the stock a “buy” rating in a report on Friday. Robert W. Baird lifted their price objective on shares of United Rentals from $535.00 to $571.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Baird R W upgraded shares of United Rentals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $725.69.

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.