Kentucky Retirement Systems Has $3.68 Million Position in United Rentals, Inc. (NYSE:URI)

Kentucky Retirement Systems trimmed its position in United Rentals, Inc. (NYSE:URI) by 5.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,103 shares of the construction company’s stock after selling 320 shares during the period. Kentucky Retirement Systems’ holdings in United Rentals were worth $3,680,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of URI. Courier Capital LLC bought a new position in shares of United Rentals during the fourth quarter worth $203,000. Planned Solutions Inc. bought a new position in United Rentals during the fourth quarter worth about $77,000. Procyon Advisors LLC grew its stake in United Rentals by 9.0% in the fourth quarter. Procyon Advisors LLC now owns 716 shares of the construction company’s stock valued at $410,000 after acquiring an additional 59 shares during the period. SeaCrest Wealth Management LLC grew its stake in United Rentals by 10.8% in the fourth quarter. SeaCrest Wealth Management LLC now owns 512 shares of the construction company’s stock valued at $277,000 after acquiring an additional 50 shares during the period. Finally, DeDora Capital Inc. bought a new stake in shares of United Rentals in the fourth quarter worth about $249,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

URI has been the topic of several recent analyst reports. Oppenheimer reiterated a “market perform” rating on shares of United Rentals in a report on Monday, April 29th. JPMorgan Chase & Co. assumed coverage on shares of United Rentals in a research report on Friday, June 7th. They set an “overweight” rating and a $780.00 price objective for the company. Citigroup began coverage on shares of United Rentals in a research note on Wednesday, June 26th. They issued a “buy” rating and a $745.00 target price for the company. The Goldman Sachs Group lifted their price target on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research note on Friday. Finally, Truist Financial increased their price objective on United Rentals from $785.00 to $873.00 and gave the stock a “buy” rating in a report on Friday. Three research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, United Rentals has a consensus rating of “Hold” and a consensus target price of $651.20.

Insiders Place Their Bets

In other news, COO Michael D. Durand sold 559 shares of United Rentals stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $674.56, for a total value of $377,079.04. Following the transaction, the chief operating officer now owns 8,052 shares in the company, valued at approximately $5,431,557.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, COO Michael D. Durand sold 559 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $5,431,557.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Matthew John Flannery sold 8,379 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total transaction of $5,862,199.77. Following the transaction, the chief executive officer now owns 103,400 shares of the company’s stock, valued at $72,341,742. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

United Rentals Stock Down 0.3 %

URI traded down $2.05 during trading on Friday, reaching $752.21. 939,572 shares of the stock were exchanged, compared to its average volume of 622,350. The stock’s 50 day moving average price is $664.83 and its two-hundred day moving average price is $662.76. United Rentals, Inc. has a twelve month low of $387.01 and a twelve month high of $789.80. The stock has a market cap of $49.75 billion, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 2.47 and a beta of 1.71. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.83 and a current ratio of 0.81.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.48 by $0.22. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.77 billion. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. United Rentals’s revenue was up 6.2% on a year-over-year basis. During the same period last year, the business posted $9.88 EPS. Equities analysts expect that United Rentals, Inc. will post 44.04 EPS for the current year.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $6.52 dividend on an annualized basis and a yield of 0.87%. United Rentals’s dividend payout ratio (DPR) is 17.66%.

About United Rentals

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.