California Public Employees Retirement System Boosts Stock Holdings in United Rentals, Inc. $URI

California Public Employees Retirement System increased its position in shares of United Rentals, Inc. (NYSE:URI) by 8.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 120,520 shares of the construction company’s stock after purchasing an additional 9,801 shares during the period. California Public Employees Retirement System owned approximately 0.19% of United Rentals worth $115,056,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in URI. TD Waterhouse Canada Inc. raised its stake in shares of United Rentals by 73.3% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 5,740 shares of the construction company’s stock worth $5,533,000 after buying an additional 2,428 shares in the last quarter. National Pension Service boosted its stake in shares of United Rentals by 4.5% in the third quarter. National Pension Service now owns 103,146 shares of the construction company’s stock valued at $98,469,000 after buying an additional 4,415 shares in the last quarter. North Growth Management Ltd. grew its holdings in United Rentals by 22.2% during the third quarter. North Growth Management Ltd. now owns 11,000 shares of the construction company’s stock worth $10,189,000 after acquiring an additional 2,000 shares during the period. HB Wealth Management LLC grew its holdings in United Rentals by 37.2% during the third quarter. HB Wealth Management LLC now owns 6,608 shares of the construction company’s stock worth $6,308,000 after acquiring an additional 1,790 shares during the period. Finally, Independent Advisor Alliance raised its position in United Rentals by 11.6% in the third quarter. Independent Advisor Alliance now owns 9,108 shares of the construction company’s stock worth $8,695,000 after acquiring an additional 947 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Stock Up 0.8%

URI opened at $743.02 on Tuesday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.88 and a current ratio of 0.94. The company has a market cap of $46.81 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 1.19 and a beta of 1.66. United Rentals, Inc. has a one year low of $525.91 and a one year high of $1,021.47. The business’s fifty day moving average is $864.82 and its two-hundred day moving average is $878.98.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, January 28th. The construction company reported $11.09 earnings per share for the quarter, missing analysts’ consensus estimates of $11.86 by ($0.77). The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.24 billion. United Rentals had a net margin of 15.49% and a return on equity of 30.35%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $11.59 EPS. Analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th were issued a dividend of $1.97 per share. This is an increase from United Rentals’s previous quarterly dividend of $1.79. The ex-dividend date was Wednesday, February 11th. This represents a $7.88 annualized dividend and a yield of 1.1%. United Rentals’s payout ratio is 20.37%.

United Rentals announced that its Board of Directors has approved a share repurchase plan on Wednesday, January 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 8.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms have commented on URI. Citigroup reduced their target price on United Rentals from $1,090.00 to $950.00 and set a “buy” rating for the company in a report on Monday, February 2nd. Royal Bank Of Canada lowered their price target on shares of United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating on the stock in a research note on Friday, January 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of United Rentals in a report on Wednesday, January 21st. Sanford C. Bernstein set a $965.00 price objective on shares of United Rentals in a research note on Friday, January 30th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of United Rentals from $1,150.00 to $970.00 and set an “overweight” rating on the stock in a report on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $925.59.

Insider Transactions at United Rentals

In other United Rentals news, EVP William E. Grace sold 1,498 shares of United Rentals stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $790.89, for a total transaction of $1,184,753.22. Following the completion of the transaction, the executive vice president owned 6,872 shares in the company, valued at approximately $5,434,996.08. The trade was a 17.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael D. Durand sold 2,490 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $791.14, for a total transaction of $1,969,938.60. Following the completion of the sale, the executive vice president directly owned 7,458 shares in the company, valued at $5,900,322.12. This trade represents a 25.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.51% of the company’s stock.

United Rentals Company Profile

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.