New York State Common Retirement Fund Sells 6,402 Shares of United Rentals, Inc. (NYSE:URI)

New York State Common Retirement Fund lowered its stake in shares of United Rentals, Inc. (NYSE:URI) by 9.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 63,473 shares of the construction company’s stock after selling 6,402 shares during the quarter. New York State Common Retirement Fund owned 0.09% of United Rentals worth $36,397,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of URI. OFI Invest Asset Management purchased a new position in United Rentals during the 3rd quarter valued at $25,000. AdvisorNet Financial Inc lifted its holdings in shares of United Rentals by 71.4% in the 4th quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock worth $28,000 after buying an additional 20 shares during the period. NBC Securities Inc. purchased a new stake in shares of United Rentals in the 3rd quarter worth $29,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of United Rentals in the 3rd quarter worth $40,000. Finally, Arlington Trust Co LLC lifted its holdings in shares of United Rentals by 50.0% in the 4th quarter. Arlington Trust Co LLC now owns 84 shares of the construction company’s stock worth $48,000 after buying an additional 28 shares during the period. Institutional investors own 96.26% of the company’s stock.

Insider Activity

In other news, CFO William E. Grace sold 775 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $655.62, for a total value of $508,105.50. Following the transaction, the chief financial officer now directly owns 6,323 shares of the company’s stock, valued at $4,145,485.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.53% of the company’s stock.

United Rentals Trading Down 0.9 %

Shares of NYSE:URI opened at $655.07 on Thursday. The business’s 50-day moving average is $679.77 and its 200 day moving average is $576.07. United Rentals, Inc. has a 1 year low of $325.15 and a 1 year high of $732.37. The firm has a market capitalization of $44.00 billion, a P/E ratio of 18.53, a P/E/G ratio of 2.29 and a beta of 1.84. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.81 and a quick ratio of 0.75.

United Rentals (NYSE:URI) last announced its 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. United Rentals had a return on equity of 36.80% and a net margin of 16.91%. The company had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.44 billion. During the same period in the prior year, the company posted $7.95 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, research analysts predict that United Rentals, Inc. will post 43.13 earnings per share for the current fiscal year.

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

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.00%. United Rentals’s dividend payout ratio is presently 18.44%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on URI shares. Evercore ISI upped their target price on United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. BNP Paribas restated an “underperform” rating and set a $485.00 price objective on shares of United Rentals in a research note on Friday, January 5th. Robert W. Baird upped their price objective on United Rentals from $322.00 to $559.00 and gave the stock an “underperform” rating in a research note on Friday, January 26th. Wells Fargo & Company upped their price objective on United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Finally, Barclays upped 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. Three analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, United Rentals has an average rating of “Hold” and a consensus price target of $589.21.

About United Rentals

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.