Texas Permanent School Fund Corp Sells 303 Shares of United Rentals, Inc. (NYSE:URI)

Texas Permanent School Fund Corp trimmed its holdings in United Rentals, Inc. (NYSE:URIFree Report) by 2.1% during the third quarter, Holdings Channel reports. The firm owned 14,110 shares of the construction company’s stock after selling 303 shares during the quarter. Texas Permanent School Fund Corp’s holdings in United Rentals were worth $6,273,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. FUKOKU MUTUAL LIFE INSURANCE Co acquired a new position in shares of United Rentals in the 3rd quarter valued at about $267,000. Aptus Capital Advisors LLC increased its position in United Rentals by 14.3% in the 3rd quarter. Aptus Capital Advisors LLC now owns 1,451 shares of the construction company’s stock valued at $645,000 after buying an additional 181 shares in the last quarter. Wade G W & Inc. bought a new stake in United Rentals in the 3rd quarter valued at about $289,000. Huntington National Bank increased its position in United Rentals by 15.0% in the 3rd quarter. Huntington National Bank now owns 246 shares of the construction company’s stock valued at $109,000 after buying an additional 32 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in United Rentals in the 3rd quarter valued at about $40,000. 89.03% of the stock is owned by institutional investors and hedge funds.

United Rentals Price Performance

Shares of NYSE URI opened at $650.35 on Monday. United Rentals, Inc. has a twelve month low of $325.15 and a twelve month high of $658.86. The stock’s 50 day moving average price is $573.14 and its 200-day moving average price is $494.71. The company has a market capitalization of $43.70 billion, a PE ratio of 18.40, a PEG ratio of 2.43 and a beta of 1.84. The company has a quick ratio of 0.75, a current ratio of 0.81 and a debt-to-equity ratio of 1.24.

United Rentals (NYSE:URIGet Free Report) last announced its earnings results on Wednesday, January 24th. The construction company reported $11.26 earnings per share for the quarter, topping analysts’ consensus estimates of $10.85 by $0.41. United Rentals had a return on equity of 36.80% and a net margin of 16.91%. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the previous year, the business earned $9.74 EPS. The company’s revenue was up 13.1% compared to the same quarter last year. On average, equities analysts anticipate that United Rentals, Inc. will post 42.84 EPS for the current year.

United Rentals declared that its board has approved a stock repurchase plan on Wednesday, January 24th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to buy up to 3.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

United Rentals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th will be paid a $1.63 dividend. This is an increase from United Rentals’s previous quarterly dividend of $1.48. The ex-dividend date is Tuesday, February 13th. This represents a $6.52 annualized dividend and a yield of 1.00%. United Rentals’s dividend payout ratio is presently 16.75%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on URI shares. Robert W. Baird boosted their target price on United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a research report on Friday, January 26th. UBS Group lowered United Rentals from a “buy” rating to a “neutral” rating and boosted their target price for the company from $504.00 to $525.00 in a research report on Tuesday, December 5th. Barclays boosted their price objective on United Rentals from $325.00 to $400.00 and gave the stock an “underweight” rating in a report on Friday, January 26th. Wells Fargo & Company boosted their price objective on United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Finally, BNP Paribas reissued an “underperform” rating and set a $485.00 price objective on shares of United Rentals in a report on Friday, January 5th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $542.31.

Check Out Our Latest Research Report on URI

United Rentals Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding URI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Rentals, Inc. (NYSE:URIFree Report).

Institutional Ownership by Quarter for United Rentals (NYSE:URI)

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