Strs Ohio Sells 9,095 Shares of United Rentals, Inc. $URI

Strs Ohio reduced its stake in United Rentals, Inc. (NYSE:URI) by 16.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,385 shares of the construction company’s stock after selling 9,095 shares during the period. Strs Ohio owned 0.07% of United Rentals worth $43,327,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in United Rentals by 1.0% in the second quarter. Vanguard Group Inc. now owns 7,494,303 shares of the construction company’s stock worth $5,646,208,000 after purchasing an additional 72,267 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of United Rentals by 71.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,874,127 shares of the construction company’s stock worth $1,411,968,000 after buying an additional 780,322 shares in the last quarter. Franklin Resources Inc. grew its position in shares of United Rentals by 6.1% during the 2nd quarter. Franklin Resources Inc. now owns 1,231,108 shares of the construction company’s stock worth $927,517,000 after buying an additional 70,870 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of United Rentals by 3.7% during the second quarter. Alliancebernstein L.P. now owns 1,030,232 shares of the construction company’s stock valued at $776,177,000 after buying an additional 36,991 shares during the period. Finally, Norges Bank bought a new stake in shares of United Rentals in the second quarter valued at about $776,102,000. Institutional investors own 96.26% of the company’s stock.

United Rentals Price Performance

Shares of URI opened at $917.28 on Friday. The company has a 50 day moving average of $843.26 and a two-hundred day moving average of $885.58. The company has a quick ratio of 0.84, a current ratio of 0.90 and a debt-to-equity ratio of 1.40. United Rentals, Inc. has a twelve month low of $525.91 and a twelve month high of $1,021.47. The company has a market cap of $58.37 billion, a price-to-earnings ratio of 23.59, a price-to-earnings-growth ratio of 1.99 and a beta of 1.69.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, October 22nd. The construction company reported $11.70 EPS for the quarter, missing the consensus estimate of $12.43 by ($0.73). The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.16 billion. United Rentals had a net margin of 15.83% and a return on equity of 31.30%. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $11.80 EPS. As a group, analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on URI. Wells Fargo & Company increased their target price on shares of United Rentals from $995.00 to $1,071.00 and gave the stock an “overweight” rating in a report on Friday. Citigroup lifted their price objective on shares of United Rentals from $950.00 to $1,090.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Robert W. Baird raised shares of United Rentals from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $888.00 to $1,050.00 in a research note on Wednesday, October 1st. KeyCorp reaffirmed an “overweight” rating on shares of United Rentals in a research report on Wednesday, December 3rd. Finally, Truist Financial cut their price target on United Rentals from $1,169.00 to $1,045.00 and set a “buy” rating on the stock in a report on Thursday, December 18th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $970.76.

About United Rentals

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.