United Rentals, Inc. (NYSE:URI) Stake Cut by Utah Retirement Systems

Utah Retirement Systems decreased its holdings in shares of United Rentals, Inc. (NYSE:URI) by 1.2% in the 4th quarter, Holdings Channel reports. The firm owned 10,874 shares of the construction company’s stock after selling 133 shares during the quarter. Utah Retirement Systems’ holdings in United Rentals were worth $7,660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank bought a new stake in shares of United Rentals during the 4th quarter valued at about $695,716,000. Capital World Investors grew its holdings in shares of United Rentals by 17.1% during the fourth quarter. Capital World Investors now owns 2,221,228 shares of the construction company’s stock valued at $1,564,722,000 after purchasing an additional 323,636 shares during the last quarter. Capital International Investors raised its position in shares of United Rentals by 41.0% during the 4th quarter. Capital International Investors now owns 1,051,365 shares of the construction company’s stock worth $740,624,000 after purchasing an additional 305,491 shares during the period. Marshall Wace LLP lifted its holdings in shares of United Rentals by 105.6% in the 4th quarter. Marshall Wace LLP now owns 546,165 shares of the construction company’s stock worth $384,740,000 after purchasing an additional 280,502 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in United Rentals during the 4th quarter valued at approximately $171,733,000. 96.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

URI has been the topic of several analyst reports. Citigroup dropped their target price on United Rentals from $720.00 to $650.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Robert W. Baird lifted their price objective on shares of United Rentals from $535.00 to $571.00 and gave the company a “neutral” rating in a research report on Friday, April 25th. Evercore ISI decreased their target price on shares of United Rentals from $1,004.00 to $974.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. 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 report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. decreased their price objective on United Rentals from $1,000.00 to $750.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $725.69.

United Rentals Price Performance

Shares of United Rentals stock opened at $631.64 on Thursday. United Rentals, Inc. has a 52 week low of $525.91 and a 52 week high of $896.98. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42. The stock has a market cap of $41.06 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 1.43 and a beta of 1.72. The company’s 50-day moving average price is $612.54 and its two-hundred day moving average price is $723.24.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, April 23rd. The construction company reported $8.86 EPS for the quarter, missing the consensus estimate of $8.92 by ($0.06). The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.61 billion. United Rentals had a net margin of 16.78% and a return on equity of 34.21%. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the company earned $9.15 earnings per share. As a group, sell-side analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be issued a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Wednesday, May 14th. United Rentals’s payout ratio is 18.54%.

Insider Buying and Selling

In related news, EVP Michael D. Durand sold 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $626.28, for a total value of $688,908.00. Following the completion of the transaction, the executive vice president now owns 8,748 shares of the company’s stock, valued at approximately $5,478,697.44. This trade represents a 11.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.53% 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.