New York State Common Retirement Fund Lowers Position in United Rentals, Inc. (NYSE:URI)

New York State Common Retirement Fund cut its stake in United Rentals, Inc. (NYSE:URI) by 5.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,088 shares of the construction company’s stock after selling 2,500 shares during the period. New York State Common Retirement Fund’s holdings in United Rentals were worth $30,353,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in United Rentals by 11.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,203 shares of the construction company’s stock worth $7,492,000 after buying an additional 964 shares during the period. GHP Investment Advisors Inc. lifted its holdings in United Rentals by 6.3% in the fourth quarter. GHP Investment Advisors Inc. now owns 14,855 shares of the construction company’s stock worth $10,464,000 after buying an additional 877 shares during the period. Retireful LLC purchased a new position in shares of United Rentals during the third quarter valued at approximately $697,000. Mizuho Securities USA LLC lifted its holdings in shares of United Rentals by 1,067.5% during the third quarter. Mizuho Securities USA LLC now owns 59,879 shares of the construction company’s stock valued at $48,486,000 after purchasing an additional 54,750 shares during the last quarter. Finally, Fiduciary Alliance LLC lifted its holdings in shares of United Rentals by 196.5% during the fourth quarter. Fiduciary Alliance LLC now owns 1,420 shares of the construction company’s stock valued at $1,000,000 after purchasing an additional 941 shares during the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on URI shares. Evercore ISI lowered their target price on shares of United Rentals from $1,004.00 to $974.00 and set an “outperform” rating for the company in a report on Wednesday. Truist Financial reiterated a “buy” rating and set a $956.00 target price (down from $963.00) on shares of United Rentals in a report on Friday, January 31st. Argus lifted their target price on shares of United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Morgan Stanley lowered their target price on shares of United Rentals from $775.00 to $765.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Finally, Barclays lifted their target price on shares of United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $829.00.

United Rentals Price Performance

Shares of URI opened at $694.48 on Friday. The firm has a market cap of $45.36 billion, a PE ratio of 17.92, a P/E/G ratio of 1.48 and a beta of 1.68. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42. The firm has a fifty day simple moving average of $733.77 and a two-hundred day simple moving average of $769.42. United Rentals, Inc. has a 1-year low of $596.48 and a 1-year high of $896.98.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, January 29th. The construction company reported $11.59 earnings per share for the quarter, missing analysts’ consensus estimates of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. On average, equities analysts anticipate that United Rentals, Inc. will post 44.93 EPS for the current year.

United Rentals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be paid a dividend of $1.79 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. This represents a $7.16 dividend on an annualized basis and a yield of 1.03%. United Rentals’s payout ratio is currently 18.48%.

United Rentals 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.