Mirae Asset Global Investments Co. Ltd. Trims Stock Holdings in United Rentals, Inc. $URI

Key Points

• Mirae Asset Global Investments Co. Ltd. reduced its stake in United Rentals, Inc. by 19.8%, now holding 8,998 shares valued at $6.78 million.
• Several large investors, including MassMutual and Cooper Financial Group, have made slight increases to their holdings in United Rentals, indicating ongoing interest in the company.
• United Rentals received mixed analyst ratings, with price targets ranging from $760 to $1,120, reflecting diverse opinions on the stock's potential.

Mirae Asset Global Investments Co. Ltd. decreased its holdings in United Rentals, Inc. (NYSE:URI - Free Report) by 19.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,998 shares of the construction company's stock after selling 2,217 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in United Rentals were worth $6,779,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB grew its holdings in United Rentals by 5.2% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 264 shares of the construction company's stock worth $199,000 after acquiring an additional 13 shares in the last quarter. Cooper Financial Group increased its holdings in United Rentals by 1.6% during the second quarter. Cooper Financial Group now owns 807 shares of the construction company's stock valued at $608,000 after buying an additional 13 shares during the period. American Trust raised its stake in United Rentals by 1.1% in the first quarter. American Trust now owns 1,242 shares of the construction company's stock worth $778,000 after buying an additional 14 shares in the last quarter. CX Institutional lifted its holdings in United Rentals by 2.5% during the second quarter. CX Institutional now owns 585 shares of the construction company's stock worth $441,000 after buying an additional 14 shares during the period. Finally, Leavell Investment Management Inc. boosted its position in United Rentals by 3.6% during the 1st quarter. Leavell Investment Management Inc. now owns 515 shares of the construction company's stock valued at $323,000 after acquiring an additional 18 shares in the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

URI has been the topic of several analyst reports. Redburn Atlantic lowered United Rentals from a "buy" rating to a "neutral" rating and set a $760.00 target price on the stock. in a research note on Friday, June 13th. Evercore ISI reaffirmed an "outperform" rating on shares of United Rentals in a research report on Tuesday, August 19th. KeyCorp increased their target price on shares of United Rentals from $1,075.00 to $1,120.00 and gave the company an "overweight" rating in a research report on Thursday, September 25th. Citigroup lifted their price target on shares of United Rentals from $1,000.00 to $1,080.00 and gave the stock a "buy" rating in a report on Tuesday, September 23rd. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of United Rentals in a research report on Saturday, September 27th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $941.00.

United Rentals Trading Up 0.4%

Shares of United Rentals stock opened at $982.25 on Monday. The stock has a market cap of $63.20 billion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 2.27 and a beta of 1.73. The firm has a fifty day moving average price of $927.68 and a 200 day moving average price of $774.82. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year high of $997.50. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.86 and a quick ratio of 0.80.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The construction company reported $10.47 earnings per share for the quarter, missing the consensus estimate of $10.54 by ($0.07). The company had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.90 billion. United Rentals had a return on equity of 32.01% and a net margin of 16.11%.United Rentals's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $10.70 earnings per share. United Rentals has set its FY 2025 guidance at EPS. Equities research analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th were paid a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Wednesday, August 13th. United Rentals's payout ratio is currently 18.52%.

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.

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