California Public Employees Retirement System Cuts Stake in United Rentals, Inc. $URI

California Public Employees Retirement System cut its holdings in United Rentals, Inc. (NYSE:URI) by 3.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 owned approximately 0.18% of United Rentals worth $83,430,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in URI. Aventura Private Wealth LLC purchased a new position in United Rentals during the fourth quarter valued at approximately $27,000. Core Wealth Advisors LLC purchased a new stake in United Rentals during the fourth quarter worth $28,000. MV Capital Management Inc. purchased a new stake in United Rentals during the fourth quarter worth $28,000. Laurel Wealth Advisors LLC bought a new stake in United Rentals during the 4th quarter valued at $32,000. Finally, Fortitude Family Office LLC boosted its position in United Rentals by 121.1% during the 4th quarter. Fortitude Family Office LLC now owns 42 shares of the construction company’s stock valued at $34,000 after acquiring an additional 23 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors.

United Rentals Stock Down 0.1%

Shares of URI stock opened at $1,043.73 on Monday. United Rentals, Inc. has a 1-year low of $701.59 and a 1-year high of $1,143.69. The stock’s fifty day moving average price is $1,041.31 and its 200 day moving average price is $911.07. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.74. The company has a market cap of $65.39 billion, a price-to-earnings ratio of 26.63, a price-to-earnings-growth ratio of 1.67 and a beta of 1.79.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The business had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $4.20 billion. During the same quarter last year, the business posted $8.86 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, research analysts expect that United Rentals, Inc. will post 46.85 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were issued a dividend of $1.97 per share. The ex-dividend date was Wednesday, May 13th. This represents a $7.88 annualized dividend and a dividend yield of 0.8%. United Rentals’s dividend payout ratio is 20.10%.

Insider Activity at United Rentals

In related news, CEO Matthew John Flannery sold 22,768 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $984.98, for a total value of $22,426,024.64. Following the completion of the transaction, the chief executive officer directly owned 99,980 shares of the company’s stock, valued at $98,478,300.40. This trade represents a 18.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Craig Adam Pintoff sold 2,466 shares of United Rentals stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the completion of the sale, the executive vice president owned 14,774 shares of the company’s stock, valued at $14,227,362. This trade represents a 14.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 26,088 shares of company stock worth $25,628,877. 0.47% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on URI. BNP Paribas Exane raised United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price target for the company in a research report on Monday, June 29th. Citigroup raised their price objective on United Rentals from $1,210.00 to $1,270.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Barclays lifted their target price on United Rentals from $600.00 to $715.00 and gave the company an “underweight” rating in a research note on Friday, April 24th. Evercore reiterated an “outperform” rating and issued a $1,101.00 target price on shares of United Rentals in a report on Monday, May 11th. Finally, Sanford C. Bernstein set a $903.00 price target on shares of United Rentals and gave the company an “outperform” rating in a research report on Thursday, April 9th. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,140.00.

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.