Retirement Systems of Alabama cut its stake in United Rentals, Inc. (NYSE:URI – Get Rating) by 4.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,204 shares of the construction company’s stock after selling 1,042 shares during the period. Retirement Systems of Alabama’s holdings in United Rentals were worth $7,892,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of URI. Price T Rowe Associates Inc. MD lifted its position in shares of United Rentals by 146.5% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 615,729 shares of the construction company’s stock worth $166,322,000 after acquiring an additional 365,935 shares during the period. Boston Partners lifted its holdings in shares of United Rentals by 27.0% during the 3rd quarter. Boston Partners now owns 1,168,327 shares of the construction company’s stock worth $317,729,000 after acquiring an additional 248,072 shares during the period. Royal Bank of Canada boosted its position in shares of United Rentals by 49.1% during the 1st quarter. Royal Bank of Canada now owns 672,534 shares of the construction company’s stock valued at $238,890,000 after acquiring an additional 221,613 shares in the last quarter. Vanguard Group Inc. increased its stake in United Rentals by 2.3% in the first quarter. Vanguard Group Inc. now owns 8,179,328 shares of the construction company’s stock valued at $2,905,379,000 after acquiring an additional 186,931 shares during the period. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in United Rentals in the third quarter worth about $45,477,000. 89.65% of the stock is owned by institutional investors.
United Rentals Stock Performance
Shares of NYSE:URI opened at $361.64 on Tuesday. The stock has a market capitalization of $24.86 billion, a P/E ratio of 11.60, a P/E/G ratio of 0.52 and a beta of 1.82. United Rentals, Inc. has a 1-year low of $230.54 and a 1-year high of $481.99. The company has a current ratio of 1.15, a quick ratio of 1.02 and a debt-to-equity ratio of 1.61. The business has a 50-day moving average price of $401.02 and a two-hundred day moving average price of $379.48.
United Rentals Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 24th. Shareholders of record on Wednesday, May 10th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Tuesday, May 9th. United Rentals’s payout ratio is 18.99%.
Insider Buying and Selling at United Rentals
In other news, CEO Matthew John Flannery sold 12,000 shares of the company’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $477.99, for a total value of $5,735,880.00. Following the completion of the sale, the chief executive officer now directly owns 101,276 shares of the company’s stock, valued at approximately $48,408,915.24. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Matthew John Flannery sold 12,000 shares of the company’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $477.99, for a total value of $5,735,880.00. Following the completion of the sale, the chief executive officer now directly owns 101,276 shares of the company’s stock, valued at approximately $48,408,915.24. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO William E. Grace sold 725 shares of the company’s stock in a transaction on Friday, April 28th. The shares were sold at an average price of $359.63, for a total transaction of $260,731.75. Following the completion of the sale, the chief financial officer now owns 6,520 shares of the company’s stock, valued at approximately $2,344,787.60. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. Robert W. Baird lowered United Rentals from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $425.00 to $300.00 in a research note on Monday, March 27th. Deutsche Bank Aktiengesellschaft lifted their price objective on United Rentals from $399.00 to $406.00 and gave the company a “hold” rating in a report on Wednesday, April 12th. Barclays lifted their price objective on United Rentals from $300.00 to $350.00 and gave the company an “underweight” rating in a report on Friday, January 27th. Morgan Stanley cut their price objective on United Rentals from $441.00 to $435.00 and set an “equal weight” rating for the company in a report on Thursday, April 20th. Finally, Stifel Nicolaus cut their target price on shares of United Rentals from $505.00 to $498.00 in a research note on Friday. 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 MarketBeat, United Rentals has an average rating of “Hold” and an average price target of $421.08.
United Rentals Company Profile
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.
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