The Manufacturers Life Insurance Company Trims Holdings in United Rentals, Inc. (NYSE:URI)

The Manufacturers Life Insurance Company decreased its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 6.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 659,779 shares of the construction company's stock after selling 44,366 shares during the period. The Manufacturers Life Insurance Company owned 1.01% of United Rentals worth $464,775,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Capital World Investors boosted its holdings in United Rentals by 17.1% during the 4th quarter. Capital World Investors now owns 2,221,228 shares of the construction company's stock worth $1,564,722,000 after acquiring an additional 323,636 shares during the last quarter. Geode Capital Management LLC grew its position in United Rentals by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 1,587,203 shares of the construction company's stock worth $1,115,142,000 after purchasing an additional 20,401 shares in the last quarter. Alliancebernstein L.P. increased its stake in United Rentals by 16.0% in the 4th quarter. Alliancebernstein L.P. now owns 1,250,324 shares of the construction company's stock valued at $880,778,000 after buying an additional 172,340 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of United Rentals by 9.8% during the 4th quarter. Franklin Resources Inc. now owns 1,093,350 shares of the construction company's stock worth $770,199,000 after buying an additional 97,336 shares in the last quarter. Finally, Capital International Investors boosted its stake in shares of United Rentals by 41.0% in the 4th quarter. Capital International Investors now owns 1,051,365 shares of the construction company's stock worth $740,624,000 after buying an additional 305,491 shares during the last quarter. 96.26% of the stock is owned by institutional investors.

United Rentals Price Performance

Shares of URI traded up $25.61 during mid-day trading on Friday, reaching $666.21. 884,233 shares of the stock traded hands, compared to its average volume of 592,098. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year high of $896.98. The company has a market cap of $43.30 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 1.43 and a beta of 1.72. The firm has a fifty day moving average price of $613.33 and a 200 day moving average price of $720.72.

United Rentals (NYSE:URI - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The construction company reported $8.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.92 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter in the previous year, the firm earned $9.15 earnings per share. The company's revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, equities research analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be paid a $1.79 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $7.16 dividend on an annualized basis and a yield of 1.07%. United Rentals's dividend payout ratio is presently 18.54%.

Insider Buying and Selling

In other United Rentals news, EVP Michael D. Durand sold 1,100 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $626.28, for a total transaction of $688,908.00. Following the transaction, the executive vice president now directly owns 8,748 shares in the company, valued at $5,478,697.44. This trade represents a 11.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on URI shares. Robert W. Baird boosted their price target on shares of United Rentals from $535.00 to $571.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. Truist Financial raised their price target on shares of United Rentals from $732.00 to $786.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Citigroup dropped their price objective on United Rentals from $720.00 to $650.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. UBS Group lowered United Rentals from a "buy" rating to a "sell" rating and lowered their target price for the company from $910.00 to $485.00 in a research note on Monday, April 7th. Finally, Morgan Stanley raised United Rentals from an "equal weight" rating to an "overweight" rating and set a $702.00 price target on the stock in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, United Rentals has a consensus rating of "Moderate Buy" and an average price target of $725.69.

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.