United Rentals, Inc. $URI Shares Newly Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments initiated a position in United Rentals, buying 16,972 shares worth approximately $16.985 million in the third quarter. Institutional investors collectively own 96.26% of the company.
• United Rentals beat quarterly expectations, reporting EPS of $15.55 versus $13.97 expected and revenue of $4.89 billion versus $4.71 billion; revenue rose 15.7% year over year.
• Analyst sentiment is broadly positive: the stock has a “Moderate Buy” consensus rating and an average price target of $1,292.88, though JPMorgan downgraded it to neutral.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 16,972 shares of the construction company's stock, valued at approximately $16,985,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in URI. Cidel Asset Management Inc. grew its position in United Rentals by 2.4% during the second quarter. Cidel Asset Management Inc. now owns 425 shares of the construction company's stock valued at $481,000 after buying an additional 10 shares during the period. SBI Securities Co. Ltd. increased its holdings in United Rentals by 3.1% during the third quarter. SBI Securities Co. Ltd. now owns 331 shares of the construction company's stock valued at $331,000 after buying an additional 10 shares during the last quarter. PFG Investments LLC increased its holdings in United Rentals by 0.9% during the first quarter. PFG Investments LLC now owns 1,172 shares of the construction company's stock valued at $854,000 after buying an additional 11 shares during the last quarter. CoreCap Advisors LLC increased its holdings in United Rentals by 16.9% during the second quarter. CoreCap Advisors LLC now owns 76 shares of the construction company's stock valued at $86,000 after buying an additional 11 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in United Rentals by 0.8% in the first quarter. Parallel Advisors LLC now owns 1,485 shares of the construction company's stock worth $1,082,000 after acquiring an additional 12 shares during the period. Hedge funds and other institutional investors own 96.26% of the company's stock.

Analyst Upgrades and Downgrades

URI has been the topic of several analyst reports. JPMorgan Chase & Co. cut shares of United Rentals from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $1,235.00 to $1,170.00 in a research note on Thursday, September 10th. Royal Bank Of Canada upped their price objective on United Rentals from $1,323.00 to $1,392.00 and gave the stock an "outperform" rating in a research note on Friday, October 23rd. Zacks Research raised United Rentals from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 22nd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of United Rentals in a report on Wednesday, October 21st. Finally, Wells Fargo & Company lifted their target price on United Rentals from $1,245.00 to $1,355.00 and gave the company an "overweight" rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, United Rentals currently has a consensus rating of "Moderate Buy" and an average price target of $1,292.88.

United Rentals Price Performance

NYSE URI opened at $1,173.72 on Wednesday. United Rentals, Inc. has a 12 month low of $701.59 and a 12 month high of $1,202.12. The stock has a market cap of $72.68 billion, a price-to-earnings ratio of 25.80, a PEG ratio of 1.65 and a beta of 1.82. The company's 50 day moving average is $1,052.53 and its two-hundred day moving average is $973.16. The company has a current ratio of 0.80, a quick ratio of 0.73 and a debt-to-equity ratio of 1.35.

United Rentals (NYSE:URI - Get Free Report) last posted its quarterly earnings results on Wednesday, October 21st. The construction company reported $15.55 earnings per share for the quarter, topping analysts' consensus estimates of $13.97 by $1.58. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.71 billion. United Rentals had a net margin of 16.33% and a return on equity of 33.47%. The company's revenue was up 15.7% on a year-over-year basis. During the same period in the prior year, the business posted $11.70 earnings per share. As a group, research analysts anticipate that United Rentals, Inc. will post 51.17 earnings per share for the current year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Wednesday, November 11th will be paid a dividend of $1.97 per share. The ex-dividend date is Tuesday, November 10th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. United Rentals's payout ratio is 17.32%.

About United Rentals

United Rentals, Inc is an equipment rental company serving construction, industrial, infrastructure, utilities, government and other commercial customers. The company provides access to equipment and related services through a network of rental locations, helping customers manage projects without purchasing and maintaining all of the equipment they need.

Its rental fleet includes aerial work platforms, earthmoving equipment, material-handling equipment, general construction tools, trucks and trailers, and light-duty equipment.

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