New York State Common Retirement Fund Lowers Position in United Rentals, Inc. (NYSE:URI)

New York State Common Retirement Fund lessened its holdings in United Rentals, Inc. (NYSE:URI) by 5.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,088 shares of the construction company’s stock after selling 2,500 shares during the period. New York State Common Retirement Fund owned 0.07% of United Rentals worth $30,353,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. International Assets Investment Management LLC increased its stake in United Rentals by 82,462.2% in the third quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock valued at $1,300,962,000 after acquiring an additional 1,604,715 shares during the last quarter. JPMorgan Chase & Co. increased its stake in United Rentals by 15.4% in the third quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock valued at $637,968,000 after acquiring an additional 105,287 shares during the last quarter. FMR LLC increased its stake in United Rentals by 3.7% in the third quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock valued at $1,956,768,000 after acquiring an additional 85,325 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in United Rentals by 10.5% in the third quarter. The Manufacturers Life Insurance Company now owns 704,145 shares of the construction company’s stock valued at $570,167,000 after acquiring an additional 66,957 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in United Rentals by 6.1% in the third quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock valued at $862,110,000 after acquiring an additional 57,002 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Stock Performance

United Rentals stock opened at $694.48 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42. The firm has a 50-day moving average of $733.77 and a 200-day moving average of $769.42. The firm has a market cap of $45.36 billion, a P/E ratio of 17.92, a P/E/G ratio of 1.48 and a beta of 1.68. United Rentals, Inc. has a 1-year low of $596.48 and a 1-year high of $896.98.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, January 29th. The construction company reported $11.59 earnings per share 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 expect that United Rentals, Inc. will post 44.93 EPS for the current year.

United Rentals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be issued a dividend of $1.79 per share. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. This represents a $7.16 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Wednesday, February 12th. United Rentals’s dividend payout ratio is currently 18.48%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Barclays increased their target price on United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Morgan Stanley reduced their target price 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. Bank of America raised their price objective on United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Argus raised their price objective on United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. raised their price objective on United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, United Rentals currently has an average rating of “Moderate Buy” and a consensus price target of $829.00.

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.