Louisiana State Employees Retirement System Takes $2.33 Million Position in United Rentals, Inc. $URI

Louisiana State Employees Retirement System bought a new position in shares of United Rentals, Inc. (NYSE:URI) during the 1st quarter, HoldingsChannel reports. The fund bought 3,200 shares of the construction company’s stock, valued at approximately $2,331,000.

A number of other hedge funds also recently modified their holdings of the stock. Norges Bank bought a new stake in United Rentals during the fourth quarter worth about $978,017,000. Capital International Investors increased its holdings in United Rentals by 22.8% in the 3rd quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock valued at $3,247,762,000 after buying an additional 631,484 shares during the period. Corient Private Wealth LLC increased its holdings in United Rentals by 1,667.4% in the 4th quarter. Corient Private Wealth LLC now owns 343,965 shares of the construction company’s stock valued at $278,378,000 after buying an additional 324,503 shares during the period. Robeco Institutional Asset Management B.V. raised its position in shares of United Rentals by 3,459.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 196,688 shares of the construction company’s stock valued at $159,184,000 after buying an additional 191,162 shares in the last quarter. Finally, Capital World Investors raised its position in shares of United Rentals by 6.7% in the 3rd quarter. Capital World Investors now owns 2,678,614 shares of the construction company’s stock valued at $2,557,158,000 after buying an additional 168,685 shares in the last quarter. Institutional investors own 96.26% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of United Rentals from $850.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Royal Bank Of Canada boosted their price objective on shares of United Rentals from $1,041.00 to $1,119.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Raymond James Financial restated an “outperform” rating and set a $1,275.00 target price on shares of United Rentals in a research note on Wednesday, June 10th. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,030.00 target price on shares of United Rentals in a report on Friday, April 24th. Finally, Barclays lifted their price target on United Rentals from $600.00 to $715.00 and gave the company an “underweight” rating in a research note on Friday, April 24th. Fifteen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,096.75.

Insider Transactions at United Rentals

In related news, VP Andrew B. Limoges sold 548 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $977.86, for a total value of $535,867.28. Following the completion of the transaction, the vice president owned 1,865 shares in the company, valued at $1,823,708.90. This trade represents a 22.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew John Flannery sold 22,768 shares of United Rentals stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $984.98, for a total transaction of $22,426,024.64. Following the sale, the chief executive officer owned 99,980 shares in the company, valued at approximately $98,478,300.40. This represents a 18.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 26,088 shares of company stock worth $25,628,877. 0.47% of the stock is owned by corporate insiders.

United Rentals Trading Up 0.1%

NYSE URI opened at $1,122.26 on Tuesday. The company has a market cap of $70.31 billion, a price-to-earnings ratio of 28.63, a price-to-earnings-growth ratio of 1.77 and a beta of 1.81. United Rentals, Inc. has a twelve month low of $701.59 and a twelve month high of $1,143.69. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.37. The business’s fifty day moving average is $993.67 and its 200 day moving average is $884.66.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). The firm had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.20 billion. United Rentals had a return on equity of 30.56% and a net margin of 15.32%.United Rentals’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $8.86 EPS. As a group, sell-side analysts expect that United Rentals, Inc. will post 47.26 EPS for the current fiscal year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were paid a $1.97 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. United Rentals’s dividend payout ratio is currently 20.10%.

United Rentals Company Profile

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.