United Rentals, Inc. $URI Stake Reduced by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company reduced its United Rentals stake by 6% in the second quarter, selling 40,058 shares and retaining 632,126 shares worth approximately $716.1 million. Institutional investors collectively own 96.26% of the company.
• United Rentals exceeded quarterly expectations, reporting $12.76 in EPS and $4.41 billion in revenue; revenue increased 11.8% year over year. Analysts forecast full-year EPS of $48.59.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $1,230.88. The company also declared a quarterly dividend of $1.97 per share, equivalent to a 0.8% yield.

The Manufacturers Life Insurance Company cut its stake in United Rentals, Inc. (NYSE:URI - Free Report) by 6.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 632,126 shares of the construction company's stock after selling 40,058 shares during the period. The Manufacturers Life Insurance Company owned 1.02% of United Rentals worth $716,129,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in URI. Core Wealth Advisors LLC acquired a new stake in shares of United Rentals in the 4th quarter worth about $28,000. MV Capital Management Inc. acquired a new position in United Rentals during the 4th quarter valued at about $28,000. Clal Insurance Enterprises Holdings Ltd acquired a new position in United Rentals during the 2nd quarter valued at about $29,000. MidFirst Bank bought a new position in United Rentals in the 2nd quarter worth about $31,000. Finally, Hilton Head Capital Partners LLC bought a new position in United Rentals in the 4th quarter worth about $34,000. 96.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at United Rentals

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

United Rentals Price Performance

NYSE URI opened at $989.77 on Friday. United Rentals, Inc. has a 12 month low of $701.59 and a 12 month high of $1,179.18. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.70. The firm has a market capitalization of $61.60 billion, a PE ratio of 23.77, a P/E/G ratio of 1.51 and a beta of 1.79. The company's 50 day simple moving average is $1,078.97 and its 200 day simple moving average is $965.91.

United Rentals (NYSE:URI - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The construction company reported $12.76 EPS for the quarter, topping the consensus estimate of $11.53 by $1.23. The firm had revenue of $4.41 billion for the quarter, compared to analysts' expectations of $4.22 billion. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The firm's quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $10.47 earnings per share. As a group, equities research analysts forecast that United Rentals, Inc. will post 48.59 EPS for the current fiscal year.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were paid a $1.97 dividend. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, August 12th. United Rentals's payout ratio is currently 18.92%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised United Rentals from a "hold" rating to a "buy" rating in a report on Saturday, July 25th. Raymond James Financial reissued an "outperform" rating and issued a $1,275.00 price objective on shares of United Rentals in a report on Wednesday, June 10th. Wells Fargo & Company raised 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. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $1,170.00 target price (down from $1,235.00) on shares of United Rentals in a research note on Thursday. Finally, Truist Financial boosted their price target on United Rentals from $1,421.00 to $1,466.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, United Rentals presently has a consensus rating of "Moderate Buy" and an average target price of $1,230.88.

United Rentals Company Profile

United Rentals, Inc is an equipment rental company serving construction, industrial, commercial, government and residential customers. The company provides access to a broad range of equipment without requiring customers to purchase and maintain their own fleets.

Its rental offerings include aerial work platforms, earthmoving equipment, material-handling equipment, trucks and trailers, power-generation and climate-control equipment, pumps, tools, trench-safety products and traffic-control equipment.

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