Man Group plc Invests $34.52 Million in United Rentals, Inc. $URI

Man Group plc acquired a new position in shares of United Rentals, Inc. (NYSE:URI - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 30,467 shares of the construction company's stock, valued at approximately $34,516,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Woodline Partners LP increased its stake in shares of United Rentals by 40.0% in the 1st quarter. Woodline Partners LP now owns 5,518 shares of the construction company's stock valued at $3,458,000 after acquiring an additional 1,577 shares during the last quarter. Sei Investments Co. grew its holdings in United Rentals by 24.7% during the second quarter. Sei Investments Co. now owns 27,136 shares of the construction company's stock valued at $20,444,000 after purchasing an additional 5,375 shares during the period. Treasurer of the State of North Carolina grew its holdings in United Rentals by 43.6% during the second quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company's stock valued at $42,233,000 after purchasing an additional 17,030 shares during the period. HUB Investment Partners LLC increased its stake in United Rentals by 11.3% in the second quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company's stock valued at $1,661,000 after purchasing an additional 223 shares in the last quarter. Finally, Diversify Advisory Services LLC increased its stake in United Rentals by 338.7% in the second quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company's stock valued at $1,246,000 after purchasing an additional 1,277 shares in the last quarter. Institutional investors own 96.26% of the company's stock.

Insiders Place Their Bets

In other United Rentals news, EVP William E. Grace sold 1,500 shares of the company's stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the completion of the transaction, the executive vice president owned 6,062 shares of the company's stock, valued at $6,869,155.30. This represents a 19.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.47% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on URI. Wells Fargo & Company increased their target price on shares of United Rentals from $1,245.00 to $1,355.00 and gave the stock an "overweight" rating in a report on Friday, July 24th. UBS Group upped their price objective on shares of United Rentals from $1,300.00 to $1,350.00 and gave the company a "buy" rating in a research report on Thursday, July 23rd. Raymond James Financial reaffirmed an "outperform" rating and set a $1,275.00 price objective on shares of United Rentals in a research note on Wednesday, June 10th. Evercore reiterated an "outperform" rating and set a $1,101.00 target price on shares of United Rentals in a report on Monday, May 11th. Finally, Weiss Ratings raised United Rentals from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,246.19.

United Rentals Stock Performance

Shares of URI stock opened at $1,058.50 on Thursday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.70 and a current ratio of 0.76. United Rentals, Inc. has a 52 week low of $701.59 and a 52 week high of $1,179.18. The company's 50 day moving average price is $1,099.04 and its two-hundred day moving average price is $955.68. The company has a market capitalization of $65.88 billion, a P/E ratio of 25.42, a price-to-earnings-growth ratio of 1.36 and a beta of 1.80.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, beating the consensus estimate of $11.53 by $1.23. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The company had revenue of $4.41 billion during the quarter, compared to analysts' expectations of $4.22 billion. During the same quarter in the prior year, the company earned $10.47 earnings per share. The business's quarterly revenue was up 11.8% compared to the same quarter last year. On average, analysts expect that United Rentals, Inc. will post 48.55 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were paid a $1.97 dividend. The ex-dividend date was Wednesday, August 12th. This represents a $7.88 annualized dividend and a yield of 0.7%. United Rentals's payout ratio is presently 18.92%.

About United Rentals

United Rentals, Inc NYSE: URI is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company's product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.

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