Texas Permanent School Fund Corp cut its stake in United Rentals, Inc. (NYSE:URI – Free Report) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,110 shares of the construction company’s stock after selling 303 shares during the period. Texas Permanent School Fund Corp’s holdings in United Rentals were worth $6,273,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of United Rentals by 2.3% in the first quarter. Vanguard Group Inc. now owns 8,179,328 shares of the construction company’s stock worth $2,905,379,000 after purchasing an additional 186,931 shares in the last quarter. State Street Corp grew its stake in shares of United Rentals by 1.3% in the second quarter. State Street Corp now owns 3,383,296 shares of the construction company’s stock worth $1,506,819,000 after purchasing an additional 43,715 shares in the last quarter. Capital Research Global Investors grew its stake in shares of United Rentals by 18.4% in the second quarter. Capital Research Global Investors now owns 2,309,103 shares of the construction company’s stock worth $1,028,402,000 after purchasing an additional 358,743 shares in the last quarter. Capital World Investors grew its stake in shares of United Rentals by 10.0% in the second quarter. Capital World Investors now owns 2,109,218 shares of the construction company’s stock worth $939,382,000 after purchasing an additional 192,205 shares in the last quarter. Finally, Morgan Stanley grew its stake in shares of United Rentals by 10.8% in the fourth quarter. Morgan Stanley now owns 1,756,009 shares of the construction company’s stock worth $624,121,000 after purchasing an additional 170,958 shares in the last quarter. 89.03% of the stock is owned by institutional investors and hedge funds.
United Rentals Stock Up 0.5 %
URI opened at $650.35 on Monday. United Rentals, Inc. has a fifty-two week low of $325.15 and a fifty-two week high of $658.86. The business has a 50-day moving average of $573.14 and a 200-day moving average of $494.71. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.81 and a quick ratio of 0.75. The company has a market capitalization of $43.70 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 2.43 and a beta of 1.84.
United Rentals Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Tuesday, February 13th. This is an increase from United Rentals’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.00%. United Rentals’s dividend payout ratio (DPR) is 16.75%.
United Rentals declared that its Board of Directors has approved a share buyback plan on Wednesday, January 24th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to buy up to 3.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
Analyst Ratings Changes
Several research analysts have recently issued reports on URI shares. Barclays increased their price target on United Rentals from $325.00 to $400.00 and gave the stock an “underweight” rating in a research note on Friday, January 26th. BNP Paribas reaffirmed an “underperform” rating and set a $485.00 target price on shares of United Rentals in a research note on Friday, January 5th. The Goldman Sachs Group raised their target price on United Rentals from $510.00 to $718.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Robert W. Baird raised their target price on United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a research note on Friday, January 26th. Finally, KeyCorp cut United Rentals from an “overweight” rating to a “sector weight” rating in a research note on Monday, December 4th. Three analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $542.31.
United Rentals Profile
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.
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