State of New Jersey Common Pension Fund D Decreases Stock Position in United Rentals, Inc. (NYSE:URI)

State of New Jersey Common Pension Fund D trimmed its stake in shares of United Rentals, Inc. (NYSE:URI) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,333 shares of the construction company’s stock after selling 343 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in United Rentals were worth $17,141,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Monument Capital Management grew its position in shares of United Rentals by 1.7% during the fourth quarter. Monument Capital Management now owns 4,650 shares of the construction company’s stock worth $3,276,000 after buying an additional 78 shares in the last quarter. J.W. Cole Advisors Inc. grew its holdings in United Rentals by 116.5% during the 4th quarter. J.W. Cole Advisors Inc. now owns 589 shares of the construction company’s stock worth $415,000 after acquiring an additional 317 shares in the last quarter. Valmark Advisers Inc. increased its position in shares of United Rentals by 1.8% in the 4th quarter. Valmark Advisers Inc. now owns 788 shares of the construction company’s stock valued at $555,000 after purchasing an additional 14 shares during the last quarter. Allworth Financial LP raised its holdings in shares of United Rentals by 33.4% in the 4th quarter. Allworth Financial LP now owns 759 shares of the construction company’s stock valued at $594,000 after purchasing an additional 190 shares in the last quarter. Finally, Principal Securities Inc. lifted its position in shares of United Rentals by 43.4% during the 4th quarter. Principal Securities Inc. now owns 2,658 shares of the construction company’s stock worth $1,873,000 after purchasing an additional 805 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on URI. Morgan Stanley cut their price target on United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Barclays boosted their target price on United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Robert W. Baird upgraded shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price target on the stock in a research note on Tuesday, January 14th. Baird R W upgraded shares of United Rentals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $956.00 target price (down from $963.00) on shares of United Rentals in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, United Rentals has an average rating of “Moderate Buy” and a consensus price target of $814.08.

United Rentals Trading Up 1.6 %

NYSE URI opened at $741.10 on Tuesday. The firm’s fifty day moving average is $738.87 and its two-hundred day moving average is $770.03. United Rentals, Inc. has a one year low of $596.48 and a one year high of $896.98. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.92 and a current ratio of 0.98. The firm has a market cap of $48.40 billion, a PE ratio of 19.13, a P/E/G ratio of 1.54 and a beta of 1.68.

United Rentals (NYSE:URI) last posted 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%. Analysts expect that United Rentals, Inc. will post 44.93 earnings per share for the current year.

United Rentals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be given a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 0.97%. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. The ex-dividend date is Wednesday, February 12th. United Rentals’s dividend payout ratio (DPR) is 16.83%.

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.