California Public Employees Retirement System Has $73.06 Million Holdings in United Rentals, Inc. (NYSE:URI)

California Public Employees Retirement System trimmed its position in United Rentals, Inc. (NYSE:URI) by 6.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 127,413 shares of the construction company’s stock after selling 9,259 shares during the period. California Public Employees Retirement System’s holdings in United Rentals were worth $73,061,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Foster & Motley Inc. raised its position in United Rentals by 6.8% in the fourth quarter. Foster & Motley Inc. now owns 7,678 shares of the construction company’s stock worth $4,403,000 after purchasing an additional 487 shares in the last quarter. RWA Wealth Partners LLC bought a new stake in shares of United Rentals in the 4th quarter valued at approximately $426,000. Monument Capital Management raised its holdings in shares of United Rentals by 3.5% in the 4th quarter. Monument Capital Management now owns 4,497 shares of the construction company’s stock worth $2,579,000 after buying an additional 151 shares in the last quarter. Cetera Trust Company N.A bought a new position in shares of United Rentals during the 4th quarter worth approximately $141,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in United Rentals by 0.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,879 shares of the construction company’s stock valued at $3,945,000 after buying an additional 57 shares in the last quarter. 96.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on URI. Barclays increased their price objective on United Rentals from $325.00 to $400.00 and gave the stock an “underweight” rating in a research note on Friday, January 26th. Robert W. Baird boosted their price target on shares of United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a research report on Friday, January 26th. Morgan Stanley assumed coverage on shares of United Rentals in a report on Monday, January 8th. They set an “equal weight” rating and a $500.00 price objective for the company. Wells Fargo & Company boosted their target price on United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Finally, Truist Financial began coverage on United Rentals in a report on Thursday, March 14th. They set a “buy” rating and a $793.00 price target for the company. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, United Rentals presently has an average rating of “Hold” and a consensus price target of $589.21.

United Rentals Stock Down 0.9 %

Shares of URI opened at $655.07 on Thursday. The business’s fifty day moving average price is $679.77 and its two-hundred day moving average price is $576.07. The firm has a market capitalization of $44.00 billion, a price-to-earnings ratio of 18.53, a PEG ratio of 2.29 and a beta of 1.84. United Rentals, Inc. has a 52 week low of $325.15 and a 52 week high of $732.37. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 0.81.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.39 by $0.76. The business 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 36.80% and a net margin of 16.91%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business earned $7.95 earnings per share. On average, analysts predict that United Rentals, Inc. will post 43.13 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 22nd. Investors of record on Wednesday, May 8th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.00%. United Rentals’s dividend payout ratio is currently 18.44%.

United Rentals announced that its board has approved a share repurchase plan on Wednesday, January 24th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to buy up to 3.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at United Rentals

In other United Rentals news, CFO William E. Grace sold 775 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $655.62, for a total transaction of $508,105.50. Following the completion of 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.53% of the company’s stock.

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.