Man Group plc Takes Position in United Rentals, Inc. $URI

Man Group plc bought a new stake in United Rentals, Inc. (NYSE:URI) during the second quarter, HoldingsChannel reports. The firm bought 30,467 shares of the construction company’s stock, valued at approximately $34,516,000.

Several other institutional investors and hedge funds have also bought and sold shares of URI. Western Wealth Management LLC acquired a new position in United Rentals during the second quarter valued at approximately $566,000. Jupiter Topco LLC acquired a new position in shares of United Rentals during the 2nd quarter worth approximately $9,227,000. EFG International AG bought a new stake in shares of United Rentals during the 2nd quarter worth approximately $69,476,000. Ancora Advisors LLC bought a new stake in shares of United Rentals during the 2nd quarter worth approximately $131,000. Finally, Redwood Grove Capital LLC bought a new stake in shares of United Rentals during the 2nd quarter worth approximately $2,548,000. Institutional investors own 96.26% of the company’s stock.

Insider Activity at United Rentals

In related news, EVP William E. Grace sold 1,500 shares of United Rentals stock in a transaction dated 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 completion of the sale, the executive vice president 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Argus restated a “buy” rating and set a $1,250.00 target price on shares of United Rentals in a report on Tuesday, August 4th. BNP Paribas Exane upgraded shares of United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price target for the company in a research note on Monday, June 29th. JPMorgan Chase & Co. lifted their price objective on shares of United Rentals from $1,100.00 to $1,235.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Truist Financial upped their target price on shares of United Rentals from $1,421.00 to $1,466.00 and gave the company a “buy” rating in a report on Friday, July 24th. Finally, Bank of America upped their target price on shares of United Rentals from $1,195.00 to $1,300.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, United Rentals has an average rating of “Moderate Buy” and an average target price of $1,246.19.

United Rentals Stock Up 0.5%

URI opened at $1,058.50 on Thursday. United Rentals, Inc. has a 1-year low of $701.59 and a 1-year high of $1,179.18. The stock’s fifty day simple moving average is $1,099.04 and its 200 day simple moving average is $955.68. 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 stock has a market cap of $65.88 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 1.36 and a beta of 1.80.

United Rentals (NYSE:URI) last released its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, topping analysts’ consensus estimates of $11.53 by $1.23. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The firm had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.22 billion. During the same period in the previous year, the business posted $10.47 earnings per share. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, research analysts expect that United Rentals, Inc. will post 48.55 earnings per share for the current year.

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were paid a dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Wednesday, August 12th. United Rentals’s dividend payout ratio (DPR) is currently 18.92%.

United Rentals Company Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.