MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Invests $91,000 in United Rentals, Inc. (NYSE:URI)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in shares of United Rentals, Inc. (NYSE:URI) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 126 shares of the construction company’s stock, valued at approximately $91,000.

Other institutional investors have also added to or reduced their stakes in the company. Capital Research Global Investors lifted its position in shares of United Rentals by 39.1% during the 4th quarter. Capital Research Global Investors now owns 6,399,808 shares of the construction company’s stock valued at $3,669,806,000 after acquiring an additional 1,799,997 shares during the period. Norges Bank bought a new stake in shares of United Rentals during the fourth quarter worth $977,443,000. Dimensional Fund Advisors LP grew its position in United Rentals by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,246,092 shares of the construction company’s stock worth $714,578,000 after acquiring an additional 56,948 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of United Rentals by 58,829.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,043,051 shares of the construction company’s stock worth $598,106,000 after purchasing an additional 1,041,281 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in United Rentals by 1.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 650,387 shares of the construction company’s stock valued at $372,945,000 after acquiring an additional 11,429 shares during the period. 96.26% of the stock is currently owned by institutional investors.

United Rentals Stock Performance

Shares of URI stock opened at $645.88 on Wednesday. United Rentals, Inc. has a 12 month low of $387.01 and a 12 month high of $732.37. The stock has a market capitalization of $43.01 billion, a P/E ratio of 17.49, a PEG ratio of 2.12 and a beta of 1.71. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 1.39. The firm’s 50 day moving average is $660.29 and its 200 day moving average is $646.84.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $9.15 EPS for the quarter, topping analysts’ consensus estimates of $8.35 by $0.80. The firm had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.44 billion. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the company earned $7.95 earnings per share. On average, sell-side analysts anticipate that United Rentals, Inc. will post 43.71 earnings per share for the current year.

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Tuesday, May 7th. United Rentals’s payout ratio is presently 17.66%.

Insider Activity

In other news, CEO Matthew John Flannery sold 8,379 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total value of $5,862,199.77. Following the completion of the transaction, the chief executive officer now directly owns 103,400 shares in the company, valued at $72,341,742. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Matthew John Flannery sold 8,379 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total value of $5,862,199.77. Following the sale, the chief executive officer now owns 103,400 shares in the company, valued at $72,341,742. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Michael D. Durand sold 559 shares of United Rentals stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $674.56, for a total value of $377,079.04. Following the sale, the chief operating officer now directly owns 8,052 shares of the company’s stock, valued at approximately $5,431,557.12. The disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.

Analyst Ratings Changes

URI has been the subject of several recent research reports. The Goldman Sachs Group increased their price target on United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Raymond James assumed coverage on shares of United Rentals in a research note on Friday, June 28th. They issued an “outperform” rating and a $750.00 price target for the company. Truist Financial lowered their target price on United Rentals from $796.00 to $785.00 and set a “buy” rating on the stock in a research report on Tuesday. Oppenheimer restated a “market perform” rating on shares of United Rentals in a report on Monday, April 29th. Finally, Citigroup started coverage on United Rentals in a research note on Wednesday, June 26th. They set a “buy” rating and a $745.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, United Rentals presently has an average rating of “Hold” and an average price target of $637.67.

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.