United Rentals, Inc. (NYSE:URI) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its stake in United Rentals, Inc. (NYSE:URI) by 19.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,588 shares of the construction company’s stock after selling 11,000 shares during the period. New York State Common Retirement Fund owned 0.07% of United Rentals worth $36,914,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its position in United Rentals by 82,462.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock valued at $1,300,962,000 after purchasing an additional 1,604,715 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of United Rentals by 4.5% during the second quarter. The Manufacturers Life Insurance Company now owns 637,188 shares of the construction company’s stock valued at $412,089,000 after acquiring an additional 27,708 shares during the period. Capital International Investors bought a new position in shares of United Rentals during the first quarter worth about $332,349,000. AMF Tjanstepension AB grew its position in shares of United Rentals by 77.7% during the second quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock worth $295,626,000 after acquiring an additional 199,810 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of United Rentals by 5.7% in the 2nd quarter. Hsbc Holdings PLC now owns 382,536 shares of the construction company’s stock worth $247,001,000 after acquiring an additional 20,481 shares during the period. 96.26% of the stock is owned by institutional investors.

United Rentals Stock Performance

Shares of URI opened at $793.47 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.82 and a quick ratio of 0.77. The firm’s 50 day moving average is $781.33 and its 200-day moving average is $712.68. United Rentals, Inc. has a 12-month low of $419.81 and a 12-month high of $861.74. The stock has a market capitalization of $52.07 billion, a P/E ratio of 20.72, a P/E/G ratio of 1.90 and a beta of 1.68.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.49 by ($0.69). United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the firm posted $11.73 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities research analysts anticipate that United Rentals, Inc. will post 43.66 EPS for the current fiscal year.

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Wednesday, November 13th. United Rentals’s dividend payout ratio is 17.03%.

Insider Activity at United Rentals

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $823.24, for a total transaction of $740,916.00. Following the sale, the senior vice president now owns 2,044 shares in the company, valued at approximately $1,682,702.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on URI shares. Truist Financial upped their target price on shares of United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Citigroup increased their price objective on United Rentals from $930.00 to $955.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Robert W. Baird lifted their target price on United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a research note on Thursday, October 3rd. Evercore ISI increased their price target on United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Finally, Bank of America lifted their price objective on shares of United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $742.50.

About United Rentals

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.