The Manufacturers Life Insurance Company Acquires 66,957 Shares of United Rentals, Inc. (NYSE:URI)

The Manufacturers Life Insurance Company raised its holdings in United Rentals, Inc. (NYSE:URI - Free Report) by 10.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 704,145 shares of the construction company's stock after purchasing an additional 66,957 shares during the period. The Manufacturers Life Insurance Company owned 1.07% of United Rentals worth $570,167,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. RFP Financial Group LLC boosted its position in shares of United Rentals by 115.8% in the second quarter. RFP Financial Group LLC now owns 41 shares of the construction company's stock valued at $27,000 after acquiring an additional 22 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of United Rentals in the third quarter valued at approximately $31,000. Carmichael Hill & Associates Inc. boosted its position in shares of United Rentals by 80.0% in the third quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company's stock valued at $36,000 after acquiring an additional 20 shares during the period. HHM Wealth Advisors LLC boosted its position in shares of United Rentals by 280.0% in the second quarter. HHM Wealth Advisors LLC now owns 57 shares of the construction company's stock valued at $37,000 after acquiring an additional 42 shares during the period. Finally, HM Payson & Co. bought a new stake in United Rentals during the third quarter valued at approximately $41,000. Hedge funds and other institutional investors own 96.26% of the company's stock.

United Rentals Trading Up 1.0 %

Shares of NYSE URI traded up $8.78 during mid-day trading on Tuesday, hitting $873.17. The stock had a trading volume of 368,648 shares, compared to its average volume of 547,490. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.77 and a current ratio of 0.82. United Rentals, Inc. has a 1 year low of $454.71 and a 1 year high of $896.98. The business has a 50 day moving average price of $821.86 and a two-hundred day moving average price of $733.58. The firm has a market cap of $57.30 billion, a P/E ratio of 22.80, a price-to-earnings-growth ratio of 1.99 and a beta of 1.68.

United Rentals (NYSE:URI - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing the consensus estimate of $12.49 by ($0.69). United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The firm had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $4.01 billion. During the same period in the previous year, the firm earned $11.73 earnings per share. The firm's quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities analysts anticipate that United Rentals, Inc. will post 43.46 EPS for the current fiscal year.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Wednesday, November 13th. United Rentals's payout ratio is currently 17.03%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Evercore ISI lifted their target price on shares of United Rentals from $774.00 to $795.00 and gave the company an "outperform" rating in a research report on Monday, August 19th. JPMorgan Chase & Co. lifted their target price on shares of United Rentals from $780.00 to $940.00 and gave the company an "overweight" rating in a research report on Monday, September 23rd. Barclays lifted their target price on shares of United Rentals from $400.00 to $565.00 and gave the company an "underweight" rating in a research report on Friday, October 25th. Truist Financial lifted their target price on shares of United Rentals from $954.00 to $955.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Finally, Citigroup lifted their target price on shares of United Rentals from $930.00 to $955.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $751.67.

Insider Buying and Selling at United Rentals

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of the business's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $823.24, for a total transaction of $740,916.00. Following the transaction, the senior vice president now directly owns 2,044 shares of the company's stock, valued at approximately $1,682,702.56. The trade was a 30.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.49% of the company's stock.

United Rentals Company 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.