Retirement Systems of Alabama Lowers Stake in United Rentals, Inc. (NYSE:URI)

Retirement Systems of Alabama trimmed its holdings in United Rentals, Inc. (NYSE:URI) by 1.0% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 14,689 shares of the construction company’s stock after selling 141 shares during the period. Retirement Systems of Alabama’s holdings in United Rentals were worth $9,500,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in URI. Nomura Holdings Inc. acquired a new position in United Rentals in the 4th quarter valued at about $780,000. Forsta AP Fonden grew its stake in shares of United Rentals by 2.8% in the 1st quarter. Forsta AP Fonden now owns 14,600 shares of the construction company’s stock valued at $10,528,000 after purchasing an additional 400 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of United Rentals by 46.2% in the fourth quarter. Victory Capital Management Inc. now owns 99,372 shares of the construction company’s stock valued at $56,982,000 after purchasing an additional 31,398 shares during the period. Tidal Investments LLC raised its stake in shares of United Rentals by 241.2% during the first quarter. Tidal Investments LLC now owns 4,859 shares of the construction company’s stock worth $3,504,000 after purchasing an additional 3,435 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of United Rentals during the fourth quarter worth approximately $779,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Truist Financial lifted their price objective on shares of United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Raymond James started coverage on shares of United Rentals in a research note on Friday, June 28th. They set an “outperform” rating and a $750.00 price target on the stock. Oppenheimer reissued a “market perform” rating on shares of United Rentals in a report on Monday, April 29th. Evercore ISI lifted their price objective on United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Finally, The Goldman Sachs Group increased their target price on United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $675.15.

Insider Activity

In related news, SVP Joli L. Gross sold 360 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $690.00, for a total value of $248,400.00. Following the completion of the transaction, the senior vice president now owns 4,090 shares of the company’s stock, valued at approximately $2,822,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.53% of the company’s stock.

United Rentals Stock Up 3.9 %

United Rentals stock opened at $745.03 on Friday. The firm has a market capitalization of $49.61 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 1.65 and a beta of 1.71. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 0.81. United Rentals, Inc. has a fifty-two week low of $387.01 and a fifty-two week high of $789.80. The stock’s fifty day moving average is $687.20 and its two-hundred day moving average is $677.99.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share for the quarter, beating the consensus estimate of $10.48 by $0.22. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period last year, the firm posted $9.88 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. Analysts predict that United Rentals, Inc. will post 44.4 EPS for the current fiscal year.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th will be given a $1.63 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $6.52 annualized dividend and a dividend yield of 0.88%. United Rentals’s dividend payout ratio is currently 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.