California Public Employees Retirement System Reduces Stock Position in United Rentals, Inc. $URI

California Public Employees Retirement System lessened its position in shares of United Rentals, Inc. (NYSE:URI) by 3.9% during the 1st quarter, Holdings Channel reports. The firm owned 114,513 shares of the construction company’s stock after selling 4,602 shares during the quarter. California Public Employees Retirement System’s holdings in United Rentals were worth $83,430,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in shares of United Rentals during the fourth quarter worth about $978,017,000. Corient Private Wealth LLC boosted its position in United Rentals by 1,667.4% in the fourth quarter. Corient Private Wealth LLC now owns 343,965 shares of the construction company’s stock valued at $278,378,000 after buying an additional 324,503 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in United Rentals by 3,459.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 196,688 shares of the construction company’s stock valued at $159,184,000 after buying an additional 191,162 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in United Rentals in the 4th quarter worth approximately $102,945,000. Finally, Victory Capital Management Inc. increased its holdings in United Rentals by 103.7% in the 4th quarter. Victory Capital Management Inc. now owns 231,018 shares of the construction company’s stock worth $186,967,000 after buying an additional 117,584 shares during the period. 96.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Joli L. Gross sold 306 shares of United Rentals stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $954.99, for a total value of $292,226.94. Following the completion of the transaction, the senior vice president owned 5,738 shares in the company, valued at $5,479,732.62. The trade was a 5.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew John Flannery sold 22,768 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $984.98, for a total value of $22,426,024.64. Following the transaction, the chief executive officer directly owned 99,980 shares of the company’s stock, valued at approximately $98,478,300.40. The trade was a 18.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 26,088 shares of company stock worth $25,628,877 in the last ninety days. Corporate insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on URI. Citigroup lifted their price objective on shares of United Rentals from $1,210.00 to $1,270.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Sanford C. Bernstein set a $903.00 price objective on shares of United Rentals and gave the stock an “outperform” rating in a research note on Thursday, April 9th. Evercore reissued an “outperform” rating and set a $1,101.00 target price on shares of United Rentals in a report on Monday, May 11th. Weiss Ratings downgraded shares of United Rentals from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of United Rentals from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Fourteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, United Rentals presently has an average rating of “Moderate Buy” and a consensus price target of $1,140.00.

United Rentals Trading Down 0.1%

Shares of NYSE:URI opened at $1,043.73 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37. United Rentals, Inc. has a 12-month low of $701.59 and a 12-month high of $1,143.69. The business has a 50 day moving average of $1,041.31 and a two-hundred day moving average of $911.07. The company has a market capitalization of $65.39 billion, a PE ratio of 26.63, a PEG ratio of 1.67 and a beta of 1.79.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). The firm had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.20 billion. United Rentals had a return on equity of 30.56% and a net margin of 15.32%.United Rentals’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $8.86 EPS. As a group, analysts forecast that United Rentals, Inc. will post 46.85 EPS for the current year.

United Rentals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were given a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a yield of 0.8%. The ex-dividend date was Wednesday, May 13th. United Rentals’s dividend payout ratio (DPR) is currently 20.10%.

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.