VIRGINIA RETIREMENT SYSTEMS ET Al Invests $22.57 Million in United Rentals, Inc. $URI

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in United Rentals, Inc. (NYSE:URI) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 19,920 shares of the construction company’s stock, valued at approximately $22,567,000.

Several other hedge funds have also recently added to or reduced their stakes in URI. Woodline Partners LP boosted its stake in United Rentals by 40.0% during the 1st quarter. Woodline Partners LP now owns 5,518 shares of the construction company’s stock worth $3,458,000 after purchasing an additional 1,577 shares during the last quarter. Sei Investments Co. raised its position in shares of United Rentals by 24.7% in the second quarter. Sei Investments Co. now owns 27,136 shares of the construction company’s stock valued at $20,444,000 after buying an additional 5,375 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of United Rentals by 43.6% in the second quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company’s stock worth $42,233,000 after buying an additional 17,030 shares in the last quarter. HUB Investment Partners LLC lifted its stake in shares of United Rentals by 11.3% in the second quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company’s stock worth $1,661,000 after buying an additional 223 shares in the last quarter. Finally, Diversify Advisory Services LLC boosted its position in United Rentals by 338.7% during the second quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company’s stock worth $1,246,000 after acquiring an additional 1,277 shares during the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at United Rentals

In related news, EVP William Grace sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the transaction, the executive vice president directly owned 6,062 shares in the company, valued at approximately $6,869,155.30. This represents a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.47% of the company’s stock.

United Rentals Price Performance

United Rentals stock opened at $1,009.78 on Tuesday. 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 company has a 50-day moving average price of $1,085.18 and a 200 day moving average price of $963.37. United Rentals, Inc. has a 12-month low of $701.59 and a 12-month high of $1,179.18. The stock has a market cap of $62.85 billion, a P/E ratio of 24.25, a PEG ratio of 1.49 and a beta of 1.79.

United Rentals (NYSE:URI) last posted its earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, beating the consensus estimate of $11.53 by $1.23. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same period in the previous year, the business posted $10.47 EPS. United Rentals’s revenue was up 11.8% on a year-over-year basis. Sell-side analysts anticipate that United Rentals, Inc. will post 48.55 earnings per share for the current year.

United Rentals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were given a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, August 12th. United Rentals’s payout ratio is presently 18.92%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on URI. Weiss Ratings raised shares of United Rentals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 23rd. Evercore restated an “outperform” rating and set a $1,101.00 target price on shares of United Rentals in a report on Monday, May 11th. Citigroup upped their price target on United Rentals from $1,270.00 to $1,330.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Barclays increased their price target on United Rentals from $715.00 to $950.00 and gave the company an “underweight” rating in a report on Friday, July 24th. Finally, Wells Fargo & Company lifted their price objective on United Rentals from $1,245.00 to $1,355.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,246.19.

About United Rentals

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.