Arizona State Retirement System Has $13.53 Million Stake in United Rentals, Inc. (NYSE:URI)

Arizona State Retirement System increased its position in shares of United Rentals, Inc. (NYSE:URI) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,210 shares of the construction company’s stock after buying an additional 132 shares during the period. Arizona State Retirement System’s holdings in United Rentals were worth $13,532,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Verdence Capital Advisors LLC increased its holdings in United Rentals by 0.9% during the fourth quarter. Verdence Capital Advisors LLC now owns 6,700 shares of the construction company’s stock worth $4,720,000 after buying an additional 60 shares during the last quarter. Aigen Investment Management LP acquired a new position in United Rentals during the fourth quarter worth $284,000. Proficio Capital Partners LLC acquired a new position in United Rentals during the fourth quarter worth $244,000. LVZ Inc. increased its holdings in United Rentals by 18.3% during the fourth quarter. LVZ Inc. now owns 439 shares of the construction company’s stock worth $309,000 after buying an additional 68 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in United Rentals by 3.9% during the fourth quarter. Assetmark Inc. now owns 1,502 shares of the construction company’s stock worth $1,058,000 after buying an additional 56 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other United Rentals news, CFO William E. Grace sold 1,100 shares of United Rentals stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $638.10, for a total value of $701,910.00. Following the transaction, the chief financial officer now owns 6,880 shares in the company, valued at $4,390,128. The trade was a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.53% of the stock is owned by company insiders.

United Rentals Stock Down 1.2 %

Shares of NYSE URI opened at $626.22 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.92 and a current ratio of 0.98. United Rentals, Inc. has a 52 week low of $585.27 and a 52 week high of $896.98. The stock has a market capitalization of $40.90 billion, a P/E ratio of 16.16, a PEG ratio of 1.43 and a beta of 1.76. The stock’s fifty day moving average is $714.93 and its 200 day moving average is $766.18.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, January 29th. The construction company reported $11.59 EPS for the quarter, missing analysts’ consensus estimates of $11.65 by ($0.06). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. Sell-side analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a $1.79 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 1.14%. This is a boost from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s dividend payout ratio (DPR) is presently 18.48%.

Analysts Set New Price Targets

URI has been the subject of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of United Rentals from $940.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Citigroup cut their target price on shares of United Rentals from $985.00 to $835.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Truist Financial restated a “buy” rating and set a $956.00 target price (down previously from $963.00) on shares of United Rentals in a research note on Friday, January 31st. 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 research note on Tuesday, January 14th. Finally, Evercore ISI decreased their price objective on United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $829.00.

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.