State of Michigan Retirement System Has $15.18 Million Position in United Rentals, Inc. (NYSE:URI)

State of Michigan Retirement System cut its position in United Rentals, Inc. (NYSE:URIFree Report) by 0.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,054 shares of the construction company’s stock after selling 200 shares during the period. State of Michigan Retirement System’s holdings in United Rentals were worth $15,182,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hoylecohen LLC grew its stake in United Rentals by 1.4% in the fourth quarter. Hoylecohen LLC now owns 1,163 shares of the construction company’s stock valued at $667,000 after acquiring an additional 16 shares during the period. Ballentine Partners LLC raised its holdings in United Rentals by 2.1% during the 4th quarter. Ballentine Partners LLC now owns 889 shares of the construction company’s stock worth $510,000 after buying an additional 18 shares during the period. DGS Capital Management LLC lifted its stake in United Rentals by 1.3% in the fourth quarter. DGS Capital Management LLC now owns 1,441 shares of the construction company’s stock valued at $827,000 after buying an additional 18 shares in the last quarter. Oak Ridge Investments LLC boosted its holdings in shares of United Rentals by 0.3% in the fourth quarter. Oak Ridge Investments LLC now owns 5,816 shares of the construction company’s stock valued at $3,335,000 after buying an additional 20 shares during the period. Finally, Caprock Group LLC increased its position in shares of United Rentals by 2.3% during the fourth quarter. Caprock Group LLC now owns 900 shares of the construction company’s stock worth $516,000 after acquiring an additional 20 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insider Activity

In other United Rentals news, CEO Matthew John Flannery sold 8,379 shares of United Rentals stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total value of $5,862,199.77. Following the completion of the sale, the chief executive officer now owns 103,400 shares in the company, valued at approximately $72,341,742. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Matthew John Flannery sold 8,379 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total value of $5,862,199.77. Following the transaction, the chief executive officer now owns 103,400 shares in the company, valued at $72,341,742. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael D. Durand sold 559 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $674.56, for a total transaction of $377,079.04. Following the sale, the chief operating officer now directly owns 8,052 shares of the company’s stock, valued at approximately $5,431,557.12. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by company insiders.

United Rentals Stock Performance

Shares of URI stock opened at $645.88 on Wednesday. United Rentals, Inc. has a 52 week low of $387.01 and a 52 week high of $732.37. The company has a market capitalization of $43.01 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 2.12 and a beta of 1.71. The company has a 50-day simple moving average of $660.29 and a 200 day simple moving average of $646.84. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.83 and a current ratio of 0.89.

United Rentals (NYSE:URIGet Free Report) last posted its earnings results on Wednesday, April 24th. The construction company reported $9.15 EPS for the quarter, beating the consensus estimate of $8.35 by $0.80. The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.44 billion. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $7.95 earnings per share. On average, sell-side analysts predict that United Rentals, Inc. will post 43.71 earnings per share for the current year.

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Tuesday, May 7th. United Rentals’s dividend payout ratio is currently 17.66%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on URI shares. The Goldman Sachs Group upped their target price on shares of United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Citigroup started coverage on United Rentals in a report on Wednesday, June 26th. They set a “buy” rating and a $745.00 price objective for the company. Raymond James started coverage on United Rentals in a research note on Friday, June 28th. They issued an “outperform” rating and a $750.00 target price on the stock. Oppenheimer reaffirmed a “market perform” rating on shares of United Rentals in a research note on Monday, April 29th. Finally, Truist Financial cut their price objective on shares of United Rentals from $796.00 to $785.00 and set a “buy” rating on the stock in a research report on Tuesday. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $637.67.

Read Our Latest Research Report on URI

United Rentals 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.

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

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