New York State Teachers Retirement System Trims Holdings in United Rentals, Inc. (NYSE:URI)

New York State Teachers Retirement System lowered its position in United Rentals, Inc. (NYSE:URI) by 3.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,724 shares of the construction company’s stock after selling 2,533 shares during the period. New York State Teachers Retirement System owned approximately 0.11% of United Rentals worth $45,739,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. International Assets Investment Management LLC grew its stake in United Rentals by 2.8% in the 4th quarter. International Assets Investment Management LLC now owns 1,819 shares of the construction company’s stock valued at $1,043,000 after acquiring an additional 49 shares during the period. abrdn plc lifted its stake in United Rentals by 57.1% in the 4th quarter. abrdn plc now owns 32,578 shares of the construction company’s stock valued at $18,681,000 after buying an additional 11,840 shares in the last quarter. Verdence Capital Advisors LLC acquired a new stake in United Rentals in the 4th quarter worth about $257,000. Signaturefd LLC increased its stake in United Rentals by 2.1% during the 4th quarter. Signaturefd LLC now owns 1,485 shares of the construction company’s stock worth $852,000 after buying an additional 30 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of United Rentals by 0.8% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,879 shares of the construction company’s stock valued at $3,945,000 after acquiring an additional 57 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Stock Up 3.6 %

United Rentals stock traded up $25.85 during trading on Friday, reaching $742.90. The stock had a trading volume of 161,493 shares, compared to its average volume of 569,613. The stock has a market cap of $49.47 billion, a PE ratio of 20.09, a P/E/G ratio of 1.65 and a beta of 1.71. The business has a 50 day moving average price of $684.62 and a 200 day moving average price of $677.13. United Rentals, Inc. has a 52-week low of $387.01 and a 52-week high of $789.80. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.39.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share for the quarter, topping the consensus estimate of $10.48 by $0.22. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the previous year, the business earned $9.88 earnings per share. The firm’s revenue was up 6.2% compared to the same quarter last year. On average, analysts predict that United Rentals, Inc. will post 44.4 EPS for the current year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $6.52 annualized dividend and a yield of 0.88%. United Rentals’s dividend payout ratio is currently 17.66%.

Insider Buying and Selling at United Rentals

In other United Rentals news, SVP Joli L. Gross sold 360 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $690.00, for a total value of $248,400.00. Following the completion of the sale, the senior vice president now owns 4,090 shares in the company, valued at $2,822,100. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.53% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on URI. The Goldman Sachs Group boosted their price target on United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Evercore ISI raised their price target on shares of United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a research note on Monday. Stifel Nicolaus upped their price objective on shares of United Rentals from $720.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Raymond James assumed coverage on shares of United Rentals in a report on Friday, June 28th. They issued an “outperform” rating and a $750.00 price objective for the company. Finally, Oppenheimer restated a “market perform” rating on shares of United Rentals in a report on Monday, April 29th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $675.15.

United Rentals Company 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.