State of Michigan Retirement System Decreases Position in United Rentals, Inc. (NYSE:URI)

State of Michigan Retirement System cut its holdings in United Rentals, Inc. (NYSE:URI) by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,454 shares of the construction company’s stock after selling 800 shares during the period. State of Michigan Retirement System’s holdings in United Rentals were worth $13,704,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC boosted its holdings in United Rentals by 11.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,589 shares of the construction company’s stock valued at $4,642,000 after acquiring an additional 693 shares during the period. Unified Investment Management bought a new stake in United Rentals in the fourth quarter valued at approximately $1,706,000. Fidelis Capital Partners LLC lifted its position in United Rentals by 102.3% in the fourth quarter. Fidelis Capital Partners LLC now owns 1,250 shares of the construction company’s stock valued at $923,000 after purchasing an additional 632 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of United Rentals during the fourth quarter valued at approximately $215,000. Finally, Jones Financial Companies Lllp grew its holdings in shares of United Rentals by 70.2% in the fourth quarter. Jones Financial Companies Lllp now owns 1,467 shares of the construction company’s stock worth $1,034,000 after purchasing an additional 605 shares during the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on URI. Baird R W raised shares of United Rentals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 14th. Robert W. Baird upgraded shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 target price for the company in a report on Tuesday, January 14th. Argus boosted their price target on United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. upped their price target on United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Truist Financial reiterated a “buy” rating and issued a $956.00 price objective (down from $963.00) on shares of United Rentals in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $829.00.

Insider Buying and Selling at United Rentals

In other news, CFO William E. Grace sold 1,100 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $638.10, for a total value of $701,910.00. Following the sale, the chief financial officer now directly owns 6,880 shares of the company’s stock, valued at $4,390,128. The trade was a 13.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.53% of the company’s stock.

United Rentals Trading Down 3.1 %

URI opened at $598.19 on Wednesday. The stock has a market cap of $39.07 billion, a PE ratio of 15.44, a PEG ratio of 1.43 and a beta of 1.68. The business has a 50 day moving average of $716.80 and a 200-day moving average of $767.11. United Rentals, Inc. has a 52 week low of $585.27 and a 52 week high of $896.98. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, January 29th. The construction company reported $11.59 EPS for the quarter, missing the consensus estimate of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. Equities research analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Wednesday, February 12th. This is a boost from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s dividend payout ratio is 18.48%.

United Rentals 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.