New York State Teachers Retirement System Sells 4,691 Shares of United Rentals, Inc. (NYSE:URI)

New York State Teachers Retirement System lowered its position in United Rentals, Inc. (NYSE:URI - Free Report) by 7.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,362 shares of the construction company's stock after selling 4,691 shares during the quarter. New York State Teachers Retirement System owned 0.09% of United Rentals worth $35,949,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of URI. Amalgamated Bank boosted its position in shares of United Rentals by 1.1% during the 1st quarter. Amalgamated Bank now owns 13,082 shares of the construction company's stock valued at $8,198,000 after acquiring an additional 139 shares in the last quarter. RBA Wealth Management LLC acquired a new stake in United Rentals during the first quarter valued at approximately $4,288,000. Colonial River Investments LLC grew its stake in shares of United Rentals by 10.3% in the 1st quarter. Colonial River Investments LLC now owns 321 shares of the construction company's stock valued at $201,000 after purchasing an additional 30 shares during the period. Confluence Wealth Services Inc. bought a new position in shares of United Rentals during the 1st quarter worth approximately $355,000. Finally, Oakworth Capital Inc. lifted its position in shares of United Rentals by 39.0% during the 1st quarter. Oakworth Capital Inc. now owns 146 shares of the construction company's stock worth $91,000 after buying an additional 41 shares during the period. Institutional investors and hedge funds own 96.26% of the company's stock.

United Rentals Trading Up 1.4%

NYSE URI traded up $10.98 during trading hours on Wednesday, hitting $785.12. The company's stock had a trading volume of 140,693 shares, compared to its average volume of 585,050. United Rentals, Inc. has a twelve month low of $525.91 and a twelve month high of $896.98. The firm has a market capitalization of $51.03 billion, a P/E ratio of 20.34, a PEG ratio of 1.84 and a beta of 1.69. The company has a quick ratio of 0.79, a current ratio of 0.85 and a debt-to-equity ratio of 1.31. The stock has a fifty day moving average of $696.24 and a 200 day moving average of $682.25.

United Rentals (NYSE:URI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The construction company reported $8.86 earnings per share for the quarter, missing analysts' consensus estimates of $8.92 by ($0.06). United Rentals had a net margin of 16.38% and a return on equity of 33.11%. The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same period last year, the company earned $9.15 EPS. The business's revenue for the quarter was up 6.7% compared to the same quarter last year. Equities research analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were given a $1.79 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 0.91%. United Rentals's dividend payout ratio is 18.54%.

Insider Activity at United Rentals

In other United Rentals news, VP Andrew B. Limoges sold 708 shares of United Rentals stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $705.86, for a total transaction of $499,748.88. Following the transaction, the vice president directly owned 1,921 shares in the company, valued at approximately $1,355,957.06. The trade was a 26.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael D. Durand sold 1,100 shares of the stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $626.28, for a total value of $688,908.00. Following the completion of the sale, the executive vice president owned 8,748 shares of the company's stock, valued at $5,478,697.44. This trade represents a 11.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.51% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Robert W. Baird increased their price objective on United Rentals from $535.00 to $571.00 and gave the stock a "neutral" rating in a research note on Friday, April 25th. JPMorgan Chase & Co. lifted their price target on shares of United Rentals from $780.00 to $920.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Truist Financial boosted their target price on United Rentals from $732.00 to $786.00 and gave the stock a "buy" rating in a report on Friday, April 25th. Citigroup reaffirmed a "buy" rating and set a $810.00 price target (up from $740.00) on shares of United Rentals in a report on Tuesday, June 24th. Finally, Bank of America reduced their price objective on United Rentals from $850.00 to $750.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, United Rentals has an average rating of "Moderate Buy" and an average target price of $766.23.

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.