Retirement Systems of Alabama Sells 502 Shares of United Rentals, Inc. (NYSE:URI)

Retirement Systems of Alabama cut its stake in shares of United Rentals, Inc. (NYSE:URI) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,938 shares of the construction company’s stock after selling 502 shares during the quarter. Retirement Systems of Alabama’s holdings in United Rentals were worth $8,566,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in URI. Pinnacle Associates Ltd. lifted its holdings in shares of United Rentals by 2.0% during the third quarter. Pinnacle Associates Ltd. now owns 4,124 shares of the construction company’s stock valued at $1,834,000 after acquiring an additional 79 shares during the period. Raymond James & Associates lifted its holdings in shares of United Rentals by 4.7% during the third quarter. Raymond James & Associates now owns 113,793 shares of the construction company’s stock valued at $50,589,000 after acquiring an additional 5,117 shares during the period. NorthRock Partners LLC lifted its holdings in shares of United Rentals by 14.4% during the third quarter. NorthRock Partners LLC now owns 548 shares of the construction company’s stock valued at $244,000 after acquiring an additional 69 shares during the period. Mn Services Vermogensbeheer B.V. raised its holdings in shares of United Rentals by 2.4% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 33,849 shares of the construction company’s stock valued at $15,048,000 after buying an additional 800 shares during the last quarter. Finally, Kennedy Investment Group raised its holdings in shares of United Rentals by 3.9% in the third quarter. Kennedy Investment Group now owns 2,712 shares of the construction company’s stock valued at $1,206,000 after buying an additional 102 shares during the last quarter. 96.26% of the stock is owned by institutional investors.

Insider Buying and Selling at United Rentals

In other United Rentals news, COO Michael D. Durand sold 559 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $674.56, for a total value of $377,079.04. Following the sale, the chief operating officer now owns 8,052 shares in the company, valued at approximately $5,431,557.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO William E. Grace sold 775 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $655.62, for a total transaction of $508,105.50. Following the sale, the chief financial officer now owns 6,323 shares in the company, valued at approximately $4,145,485.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Michael D. Durand sold 559 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $674.56, for a total value of $377,079.04. Following the sale, the chief operating officer now owns 8,052 shares in the company, valued at approximately $5,431,557.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,713 shares of company stock worth $6,747,384. Corporate insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on URI shares. The Goldman Sachs Group lifted their price target on United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Wells Fargo & Company lifted their price target on United Rentals from $630.00 to $710.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Robert W. Baird lifted their price target on United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a report on Friday, January 26th. Evercore ISI lifted their price target on United Rentals from $575.00 to $740.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Finally, Oppenheimer reiterated a “market perform” rating on shares of United Rentals in a research report on Monday, April 29th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $600.79.

United Rentals Trading Up 0.3 %

NYSE URI opened at $666.66 on Friday. The stock has a market capitalization of $44.39 billion, a price-to-earnings ratio of 18.06, a PEG ratio of 2.17 and a beta of 1.82. The stock’s 50 day moving average price is $683.20 and its two-hundred day moving average price is $585.00. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.83 and a current ratio of 0.89. United Rentals, Inc. has a 52 week low of $325.15 and a 52 week high of $732.37.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, April 24th. The construction company reported $9.15 EPS for the quarter, beating the consensus estimate of $8.35 by $0.80. The firm had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.44 billion. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $7.95 EPS. As a group, analysts anticipate that United Rentals, Inc. will post 43.52 earnings per share for the current fiscal year.

United Rentals announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 24th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 3.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Tuesday, May 7th. United Rentals’s payout ratio is 17.66%.

United Rentals Company 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.