United Rentals, Inc. $URI Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its holdings in shares of United Rentals, Inc. (NYSE:URI) by 0.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,516 shares of the construction company’s stock after selling 457 shares during the period. New York State Teachers Retirement System owned 0.09% of United Rentals worth $40,447,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Capital International Investors boosted its position in shares of United Rentals by 22.8% in the third quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock worth $3,247,762,000 after buying an additional 631,484 shares during the period. Capital World Investors raised its holdings in shares of United Rentals by 1.1% during the 4th quarter. Capital World Investors now owns 2,708,877 shares of the construction company’s stock valued at $2,192,357,000 after buying an additional 30,263 shares during the period. Franklin Resources Inc. raised its holdings in shares of United Rentals by 2.2% during the 4th quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company’s stock valued at $1,087,711,000 after buying an additional 28,895 shares during the period. Norges Bank acquired a new position in United Rentals during the 4th quarter worth approximately $978,017,000. Finally, Alliancebernstein L.P. boosted its holdings in United Rentals by 5.6% in the 3rd quarter. Alliancebernstein L.P. now owns 1,088,209 shares of the construction company’s stock worth $1,038,870,000 after acquiring an additional 57,977 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at United Rentals

In other news, SVP Joli L. Gross sold 306 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $954.99, for a total value of $292,226.94. Following the sale, the senior vice president owned 5,738 shares in the company, valued at approximately $5,479,732.62. This represents a 5.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew John Flannery sold 22,768 shares of the stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $984.98, for a total transaction of $22,426,024.64. Following the transaction, the chief executive officer directly owned 99,980 shares in the company, valued at $98,478,300.40. The trade was a 18.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 26,088 shares of company stock valued at $25,628,877. 0.47% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Raymond James Financial reiterated an “outperform” rating and set a $1,275.00 price objective on shares of United Rentals in a research note on Wednesday, June 10th. Royal Bank Of Canada upped their target price on shares of United Rentals from $1,041.00 to $1,119.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Robert W. Baird raised their price target on shares of United Rentals from $970.00 to $1,100.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Sanford C. Bernstein set a $903.00 price target on shares of United Rentals and gave the stock an “outperform” rating in a research note on Thursday, April 9th. Finally, KeyCorp boosted their price objective on shares of United Rentals from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. Fifteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, United Rentals has an average rating of “Moderate Buy” and an average price target of $1,119.69.

United Rentals Stock Performance

Shares of URI opened at $1,100.43 on Friday. The business’s 50 day moving average is $1,018.24 and its two-hundred day moving average is $892.34. United Rentals, Inc. has a 52-week low of $701.59 and a 52-week high of $1,143.69. The firm has a market cap of $68.94 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 1.76 and a beta of 1.79. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.37.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). The company 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%.The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business posted $8.86 EPS. Analysts forecast that United Rentals, Inc. will post 46.76 EPS for the current fiscal year.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were paid a dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Wednesday, May 13th. United Rentals’s dividend payout ratio is 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.