United Rentals, Inc. $URI Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its holdings in shares of United Rentals, Inc. (NYSE:URI) by 6.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 632,126 shares of the construction company’s stock after selling 40,058 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in United Rentals were worth $716,129,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in URI. Core Wealth Advisors LLC bought a new position in shares of United Rentals in the fourth quarter valued at $28,000. MV Capital Management Inc. bought a new stake in shares of United Rentals during the 4th quarter worth $28,000. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of United Rentals during the 2nd quarter worth $29,000. MidFirst Bank acquired a new position in shares of United Rentals in the 2nd quarter worth $31,000. Finally, Hilton Head Capital Partners LLC acquired a new position in shares of United Rentals in the 4th quarter worth $34,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insider Activity at United Rentals

In related news, EVP William Grace sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the transaction, the executive vice president directly owned 6,062 shares of the company’s stock, valued at approximately $6,869,155.30. The trade was a 19.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.47% of the company’s stock.

United Rentals Stock Performance

Shares of URI stock opened at $989.77 on Friday. United Rentals, Inc. has a 1-year low of $701.59 and a 1-year high of $1,179.18. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $61.60 billion, a price-to-earnings ratio of 23.77, a P/E/G ratio of 1.51 and a beta of 1.79. The stock’s fifty day simple moving average is $1,078.97 and its 200-day simple moving average is $965.91.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, July 22nd. The construction company reported $12.76 earnings per share for the quarter, beating the consensus estimate of $11.53 by $1.23. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same period in the previous year, the firm earned $10.47 earnings per share. United Rentals’s quarterly revenue was up 11.8% on a year-over-year basis. On average, sell-side analysts predict that United Rentals, Inc. will post 48.59 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were given 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 dividend payout ratio is 18.92%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Barclays upped their target price on United Rentals from $715.00 to $950.00 and gave the company an “underweight” rating in a report on Friday, July 24th. Robert W. Baird set a $1,300.00 price target on United Rentals in a research note on Friday, July 24th. Bank of America boosted their price objective on United Rentals from $1,195.00 to $1,300.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. KeyCorp reaffirmed an “overweight” rating and set a $1,350.00 price objective on shares of United Rentals in a research note on Friday, July 24th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $1,170.00 target price (down from $1,235.00) on shares of United Rentals in a report on Thursday. One investment 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 issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,230.88.

About United Rentals

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.