United Rentals, Inc. (NYSE:URI) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its holdings in shares of United Rentals, Inc. (NYSE:URI) by 1.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 14,689 shares of the construction company’s stock after selling 141 shares during the period. Retirement Systems of Alabama’s holdings in United Rentals were worth $9,500,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. First Financial Corp IN bought a new stake in shares of United Rentals in the 1st quarter worth approximately $25,000. Crewe Advisors LLC acquired a new stake in United Rentals in the first quarter worth $27,000. Rise Advisors LLC bought a new stake in United Rentals in the first quarter valued at $28,000. Riverview Trust Co bought a new stake in United Rentals in the first quarter valued at $31,000. Finally, Private Wealth Management Group LLC acquired a new position in shares of United Rentals during the fourth quarter valued at $34,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

Analysts Set New Price Targets

URI has been the topic of several recent research reports. JPMorgan Chase & Co. began coverage on shares of United Rentals in a research report on Friday, June 7th. They issued an “overweight” rating and a $780.00 price objective on the stock. Truist Financial raised their price target on shares of United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Raymond James initiated coverage on United Rentals in a research report on Friday, June 28th. They set an “outperform” rating and a $750.00 price objective for the company. Evercore ISI raised their target price on United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Finally, Citigroup initiated coverage on United Rentals in a research report on Wednesday, June 26th. They set a “buy” rating and a $745.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, United Rentals currently has an average rating of “Hold” and an average price target of $675.15.

United Rentals Trading Up 3.9 %

Shares of URI stock opened at $745.03 on Friday. The stock has a 50-day simple moving average of $687.20 and a 200 day simple moving average of $677.99. The stock has a market capitalization of $49.61 billion, a P/E ratio of 20.18, a P/E/G ratio of 1.65 and a beta of 1.71. United Rentals, Inc. has a fifty-two week low of $387.01 and a fifty-two 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 quarterly earnings data on Wednesday, July 24th. The construction company reported $10.70 earnings per share for the quarter, beating the consensus estimate of $10.48 by $0.22. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter last year, the firm posted $9.88 EPS. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, sell-side analysts expect that United Rentals, Inc. will post 44.4 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

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

Insider Activity

In other news, SVP Joli L. Gross sold 360 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $690.00, for a total transaction of $248,400.00. Following the sale, the senior vice president now directly owns 4,090 shares of the company’s stock, valued at $2,822,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.53% of the company’s stock.

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.