United Rentals, Inc. (NYSE:URI) Shares Sold by Texas Permanent School Fund

Posted by Defense World Staff on May 8th, 2023

Texas Permanent School Fund lessened its position in shares of United Rentals, Inc. (NYSE:URI – Get Rating) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,847 shares of the construction company’s stock after selling 55 shares during the quarter. Texas Permanent School Fund’s holdings in United Rentals were worth $3,500,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in URI. MUFG Americas Holdings Corp grew its position in shares of United Rentals by 1,900.0% in the third quarter. MUFG Americas Holdings Corp now owns 100 shares of the construction company’s stock valued at $27,000 after purchasing an additional 95 shares during the period. Eagle Bay Advisors LLC acquired a new stake in shares of United Rentals in the second quarter valued at about $27,000. Trustcore Financial Services LLC grew its position in shares of United Rentals by 1,237.5% in the third quarter. Trustcore Financial Services LLC now owns 107 shares of the construction company’s stock valued at $29,000 after purchasing an additional 99 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in shares of United Rentals by 62.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 86 shares of the construction company’s stock valued at $31,000 after purchasing an additional 33 shares during the period. Finally, AdvisorNet Financial Inc grew its position in shares of United Rentals by 86.3% in the fourth quarter. AdvisorNet Financial Inc now owns 95 shares of the construction company’s stock valued at $34,000 after purchasing an additional 44 shares during the period. Institutional investors and hedge funds own 89.65% of the company’s stock.

United Rentals Price Performance

United Rentals stock opened at $342.05 on Monday. The company’s 50 day simple moving average is $392.84 and its 200-day simple moving average is $381.09. The company has a market capitalization of $23.51 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 0.53 and a beta of 1.81. United Rentals, Inc. has a 1 year low of $230.54 and a 1 year high of $481.99. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.05 and a current ratio of 1.15.

United Rentals (NYSE:URI – Get Rating) last released its quarterly earnings results on Wednesday, April 26th. The construction company reported $7.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.12 by ($0.17). The company had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.17 billion. United Rentals had a net margin of 17.65% and a return on equity of 36.77%. United Rentals’s revenue was up 30.2% on a year-over-year basis. During the same period last year, the firm posted $5.73 earnings per share. As a group, equities research analysts expect that United Rentals, Inc. will post 39.96 earnings per share for the current year.

United Rentals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 24th. Investors of record on Wednesday, May 10th will be issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Tuesday, May 9th. United Rentals’s dividend payout ratio (DPR) is currently 18.99%.

Analysts Set New Price Targets

Several analysts have recently issued reports on URI shares. StockNews.com started coverage on shares of United Rentals in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. Robert W. Baird downgraded shares of United Rentals from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $425.00 to $300.00 in a research note on Monday, March 27th. Argus raised their price target on shares of United Rentals from $360.00 to $475.00 in a research note on Tuesday, January 31st. Morgan Stanley decreased their price target on shares of United Rentals from $441.00 to $435.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 20th. Finally, The Goldman Sachs Group raised their price target on shares of United Rentals from $380.00 to $436.00 and gave the stock a “buy” rating in a research note on Thursday, January 26th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $421.08.

Insider Activity at United Rentals

In other United Rentals news, CEO Matthew John Flannery sold 12,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 101,276 shares in the company, valued at approximately $48,408,915.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO William E. Grace sold 725 shares of the stock in a transaction on Friday, April 28th. The shares were sold at an average price of $359.63, for a total value of $260,731.75. Following the transaction, the chief financial officer now directly owns 6,520 shares of the company’s stock, valued at approximately $2,344,787.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew John Flannery sold 12,000 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 101,276 shares in the company, valued at $48,408,915.24. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

United Rentals Company 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.