New York State Common Retirement Fund Buys 2,339 Shares of United Rentals, Inc. (NYSE:URI)

Posted by Defense World Staff on Apr 14th, 2023

New York State Common Retirement Fund increased its stake in United Rentals, Inc. (NYSE:URI – Get Rating) by 1.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,267 shares of the construction company’s stock after purchasing an additional 2,339 shares during the period. New York State Common Retirement Fund owned 0.19% of United Rentals worth $45,944,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of URI. Oak Ridge Investments LLC grew its holdings in United Rentals by 0.5% during the 4th quarter. Oak Ridge Investments LLC now owns 5,622 shares of the construction company’s stock worth $1,998,000 after acquiring an additional 28 shares during the period. RB Capital Management LLC grew its holdings in United Rentals by 3.7% during the 4th quarter. RB Capital Management LLC now owns 868 shares of the construction company’s stock worth $309,000 after acquiring an additional 31 shares during the period. Hudson Value Partners LLC grew its holdings in United Rentals by 0.9% during the 4th quarter. Hudson Value Partners LLC now owns 3,775 shares of the construction company’s stock worth $1,342,000 after acquiring an additional 35 shares during the period. Burns J W & Co. Inc. NY grew its holdings in United Rentals by 0.4% during the 4th quarter. Burns J W & Co. Inc. NY now owns 10,043 shares of the construction company’s stock worth $3,569,000 after acquiring an additional 43 shares during the period. Finally, Huntington National Bank grew its holdings in shares of United Rentals by 7.3% in the 3rd quarter. Huntington National Bank now owns 645 shares of the construction company’s stock valued at $174,000 after buying an additional 44 shares during the period. Institutional investors own 89.65% of the company’s stock.

Insider Transactions at United Rentals

In other news, VP Andrew B. Limoges sold 519 shares of the stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $432.00, for a total transaction of $224,208.00. Following the completion of the transaction, the vice president now directly owns 2,235 shares in the company, valued at approximately $965,520. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, VP Andrew B. Limoges sold 519 shares of the firm’s stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $432.00, for a total value of $224,208.00. Following the completion of the sale, the vice president now directly owns 2,235 shares in the company, valued at approximately $965,520. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew John Flannery sold 12,000 shares of the firm’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $477.99, for a total transaction of $5,735,880.00. Following the completion of the sale, the chief executive officer now owns 101,276 shares of the company’s stock, valued at $48,408,915.24. The disclosure for this sale can be found here. Insiders sold a total of 30,672 shares of company stock worth $13,871,422 in the last three months. Insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on URI shares. Credit Suisse Group started coverage on shares of United Rentals in a research report on Wednesday, February 8th. They issued an “outperform” rating and a $544.00 price objective for the company. KeyCorp upped their price objective on shares of United Rentals from $425.00 to $515.00 and gave the company an “overweight” rating in a research report on Friday, January 27th. OTR Global upgraded shares of United Rentals from a “mixed” rating to a “positive” rating in a research report on Friday, December 16th. Argus upped their price objective on shares of United Rentals from $360.00 to $475.00 in a research report on Tuesday, January 31st. Finally, Wells Fargo & Company upped their price objective on shares of United Rentals from $435.00 to $440.00 and gave the company an “overweight” rating in a research report on Tuesday, January 10th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, United Rentals presently has an average rating of “Hold” and a consensus price target of $431.38.

United Rentals Trading Down 0.7 %

United Rentals stock opened at $373.34 on Friday. The firm has a 50-day moving average of $421.03 and a 200-day moving average of $370.16. United Rentals, Inc. has a one year low of $230.54 and a one year high of $481.99. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.11 and a quick ratio of 1.02. The company has a market cap of $25.91 billion, a price-to-earnings ratio of 12.55, a P/E/G ratio of 0.54 and a beta of 1.82.

United Rentals (NYSE:URI – Get Rating) last posted its quarterly earnings data on Wednesday, January 25th. The construction company reported $9.74 EPS for the quarter, missing analysts’ consensus estimates of $10.12 by ($0.38). United Rentals had a return on equity of 36.12% and a net margin of 18.08%. The business had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same quarter in the prior year, the company earned $7.39 earnings per share. The company’s quarterly revenue was up 18.7% on a year-over-year basis. On average, equities analysts expect that United Rentals, Inc. will post 42.21 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 22nd. Stockholders of record on Wednesday, February 8th were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Tuesday, February 7th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.59%. United Rentals’s dividend payout ratio is 4.97%.

United Rentals Profile

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United Rentals, Inc engages in the equipment rental business. It operates through the General Rentals and Specialty segments. The General Rentals segment includes the rental of construction, aerial and industrial equipment, general tools and light equipment, and related services and activities. The Specialty segment focuses on the rental of specialty construction products such as trench safety equipment, power and HVAC equipment, fluid solutions equipment, mobile storage equipment and modular office space.