Mirae Asset Global Investments Co. Ltd. Sells 7,009 Shares of United Rentals, Inc. (NYSE:URI)

Mirae Asset Global Investments Co. Ltd. lowered its holdings in United Rentals, Inc. (NYSE:URI - Free Report) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 383,863 shares of the construction company's stock after selling 7,009 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.57% of United Rentals worth $220,115,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of URI. Janney Montgomery Scott LLC raised its stake in shares of United Rentals by 6.4% in the third quarter. Janney Montgomery Scott LLC now owns 21,568 shares of the construction company's stock valued at $9,588,000 after buying an additional 1,304 shares during the period. Graybill Wealth Management LTD. raised its stake in shares of United Rentals by 0.6% in the third quarter. Graybill Wealth Management LTD. now owns 9,487 shares of the construction company's stock valued at $4,218,000 after buying an additional 58 shares during the period. Pinnacle Associates Ltd. raised its stake in shares of United Rentals by 55.5% in the fourth quarter. Pinnacle Associates Ltd. now owns 6,413 shares of the construction company's stock valued at $3,677,000 after buying an additional 2,289 shares during the period. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of United Rentals in the fourth quarter valued at $22,529,000. Finally, Teza Capital Management LLC raised its stake in shares of United Rentals by 40.5% in the third quarter. Teza Capital Management LLC now owns 5,012 shares of the construction company's stock valued at $2,228,000 after buying an additional 1,445 shares during the period. Hedge funds and other institutional investors own 96.26% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on URI shares. Truist Financial started coverage on United Rentals in a research note on Thursday, March 14th. They set a "buy" rating and a $793.00 price objective on the stock. Morgan Stanley started coverage on United Rentals in a research note on Monday, January 8th. They set an "equal weight" rating and a $500.00 price objective on the stock. The Goldman Sachs Group boosted their price objective on United Rentals from $510.00 to $718.00 and gave the company a "buy" rating in a research note on Thursday, February 29th. Barclays boosted their price objective on United Rentals from $325.00 to $400.00 and gave the company an "underweight" rating in a research note on Friday, January 26th. Finally, Robert W. Baird boosted their price objective on United Rentals from $322.00 to $559.00 and gave the company an "underperform" rating in a research note on Friday, January 26th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, United Rentals has an average rating of "Hold" and a consensus target price of $572.20.

Insider Transactions at United Rentals

In related news, CFO William E. Grace sold 775 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $655.62, for a total transaction of $508,105.50. Following the completion of the sale, the chief financial officer now directly owns 6,323 shares in the company, valued at approximately $4,145,485.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.53% of the company's stock.

United Rentals Price Performance

Shares of URI traded up $13.04 during midday trading on Friday, reaching $706.87. The stock had a trading volume of 275,838 shares, compared to its average volume of 494,121. The company's 50-day moving average is $676.01 and its 200 day moving average is $556.34. United Rentals, Inc. has a 12-month low of $325.15 and a 12-month high of $732.37. The company has a current ratio of 0.81, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $47.48 billion, a price-to-earnings ratio of 20.00, a price-to-earnings-growth ratio of 2.45 and a beta of 1.84.

United Rentals (NYSE:URI - Get Free Report) last posted its quarterly earnings data on Wednesday, January 24th. The construction company reported $11.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.85 by $0.41. United Rentals had a return on equity of 36.80% and a net margin of 16.91%. The firm had revenue of $3.73 billion during the quarter, compared to analysts' expectations of $3.63 billion. During the same period in the prior year, the business earned $9.74 EPS. The company's revenue for the quarter was up 13.1% compared to the same quarter last year. On average, equities analysts predict that United Rentals, Inc. will post 43.05 EPS for the current fiscal year.

United Rentals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were issued a $1.63 dividend. This is a boost from United Rentals's previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Tuesday, February 13th. United Rentals's dividend payout ratio is presently 18.44%.

United Rentals announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 24th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to purchase up to 3.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

United Rentals Profile

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.