United Rentals, Inc. (NYSE:URI) Shares Sold by Maryland State Retirement & Pension System

Key Points

• The Maryland State Retirement & Pension System reduced its stake in United Rentals, Inc. by 12.4%, now holding 3,061 shares valued at approximately $1.9 million.
• Several hedge funds altered their investments in United Rentals, with notable increases from Elevation Point Wealth Partners (32.9%) and Farther Finance Advisors (101.6%).
• Analysts have mixed views on United Rentals, with price target adjustments ranging from $535.00 to $955.00, while the stock maintains a "Moderate Buy" rating with an average target price of $830.71.

Maryland State Retirement & Pension System trimmed its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 12.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,061 shares of the construction company's stock after selling 435 shares during the period. Maryland State Retirement & Pension System's holdings in United Rentals were worth $1,918,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in URI. Shelton Capital Management lifted its holdings in United Rentals by 34.7% in the 4th quarter. Shelton Capital Management now owns 516 shares of the construction company's stock worth $363,000 after purchasing an additional 133 shares during the last quarter. FIL Ltd raised its position in shares of United Rentals by 58.9% in the fourth quarter. FIL Ltd now owns 8,929 shares of the construction company's stock valued at $6,290,000 after purchasing an additional 3,309 shares during the period. Treasurer of the State of North Carolina lifted its stake in shares of United Rentals by 2.2% in the fourth quarter. Treasurer of the State of North Carolina now owns 37,837 shares of the construction company's stock worth $26,654,000 after buying an additional 823 shares during the last quarter. Jaffetilchin Investment Partners LLC boosted its holdings in shares of United Rentals by 3.8% during the 4th quarter. Jaffetilchin Investment Partners LLC now owns 1,090 shares of the construction company's stock worth $768,000 after buying an additional 40 shares during the period. Finally, Heritage Trust Co acquired a new position in United Rentals in the 4th quarter valued at $2,218,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Price Performance

URI traded up $4.38 on Friday, hitting $858.99. 273,017 shares of the company's stock traded hands, compared to its average volume of 649,962. The company has a current ratio of 0.86, a quick ratio of 0.80 and a debt-to-equity ratio of 1.34. United Rentals, Inc. has a one year low of $525.91 and a one year high of $903.60. The company's 50 day simple moving average is $780.39 and its 200-day simple moving average is $702.84. The firm has a market cap of $55.27 billion, a price-to-earnings ratio of 22.21, a P/E/G ratio of 1.98 and a beta of 1.72.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The construction company reported $10.47 EPS for the quarter, missing analysts' consensus estimates of $10.54 by ($0.07). The business had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.90 billion. United Rentals had a net margin of 16.11% and a return on equity of 32.01%. The firm's revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business posted $10.70 EPS. As a group, research analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th will be given a dividend of $1.79 per share. The ex-dividend date is Wednesday, August 13th. This represents a $7.16 dividend on an annualized basis and a yield of 0.8%. United Rentals's payout ratio is currently 18.52%.

Insider Transactions at United Rentals

In other news, VP Andrew B. Limoges sold 708 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $705.86, for a total transaction of $499,748.88. Following the sale, the vice president owned 1,921 shares of the company's stock, valued at $1,355,957.06. This trade represents a 26.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.51% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on URI shares. The Goldman Sachs Group boosted their price target on United Rentals from $770.00 to $850.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Truist Financial upped their target price on United Rentals from $786.00 to $952.00 and gave the company a "buy" rating in a research note on Friday, July 25th. KeyCorp boosted their price target on shares of United Rentals from $865.00 to $960.00 and gave the company an "overweight" rating in a report on Friday, July 25th. UBS Group raised their price objective on shares of United Rentals from $780.00 to $835.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, Evercore ISI cut their price target on shares of United Rentals from $974.00 to $921.00 and set an "outperform" rating for the company in a research note on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $830.71.

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.