State Street Corp Lowers Position in United Rentals, Inc. $URI

State Street Corp decreased its holdings in shares of United Rentals, Inc. (NYSE:URI) by 0.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,073,312 shares of the construction company’s stock after selling 26,059 shares during the quarter. State Street Corp owned 4.78% of United Rentals worth $2,315,433,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Chicago Partners Investment Group LLC increased its holdings in shares of United Rentals by 33.0% in the 1st quarter. Chicago Partners Investment Group LLC now owns 459 shares of the construction company’s stock worth $299,000 after buying an additional 114 shares during the last quarter. Frank Rimerman Advisors LLC bought a new stake in shares of United Rentals during the 1st quarter worth $313,000. Benjamin Edwards Inc. grew its position in United Rentals by 0.8% in the first quarter. Benjamin Edwards Inc. now owns 4,750 shares of the construction company’s stock worth $2,977,000 after acquiring an additional 38 shares in the last quarter. Cooper Financial Group increased its stake in United Rentals by 5.6% in the first quarter. Cooper Financial Group now owns 794 shares of the construction company’s stock valued at $498,000 after acquiring an additional 42 shares during the last quarter. Finally, Aigen Investment Management LP increased its stake in United Rentals by 111.9% in the first quarter. Aigen Investment Management LP now owns 854 shares of the construction company’s stock valued at $535,000 after acquiring an additional 451 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

URI has been the subject of several research analyst reports. UBS Group reaffirmed a “neutral” rating and set a $1,025.00 price target on shares of United Rentals in a research note on Tuesday, October 28th. Citigroup reissued a “buy” rating on shares of United Rentals in a report on Thursday, October 23rd. Sanford C. Bernstein set a $1,128.00 target price on United Rentals and gave the stock an “outperform” rating in a research report on Tuesday, September 23rd. Robert W. Baird upgraded shares of United Rentals from a “neutral” rating to an “outperform” rating and increased their price target for the company from $888.00 to $1,050.00 in a research report on Wednesday, October 1st. Finally, Baird R W raised shares of United Rentals from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, United Rentals has a consensus rating of “Moderate Buy” and a consensus target price of $968.94.

United Rentals Trading Up 0.5%

Shares of URI stock opened at $788.90 on Wednesday. The business has a 50-day moving average of $882.58 and a 200 day moving average of $855.25. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.90 and a quick ratio of 0.84. United Rentals, Inc. has a 1-year low of $525.91 and a 1-year high of $1,021.47. The stock has a market capitalization of $50.20 billion, a PE ratio of 20.29, a P/E/G ratio of 1.78 and a beta of 1.68.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, October 22nd. The construction company reported $11.70 earnings per share for the quarter, missing the consensus estimate of $12.43 by ($0.73). The company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.16 billion. United Rentals had a net margin of 15.83% and a return on equity of 31.30%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $11.80 EPS. As a group, sell-side analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th were given a dividend of $1.79 per share. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $7.16 annualized dividend and a yield of 0.9%. United Rentals’s dividend payout ratio is presently 18.42%.

United Rentals 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.