Retirement Systems of Alabama Has $42.59 Million Position in United Rentals, Inc. (NYSE:URI)

Retirement Systems of Alabama increased its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 33.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,961 shares of the construction company's stock after purchasing an additional 16,985 shares during the period. Retirement Systems of Alabama owned approximately 0.10% of United Rentals worth $42,591,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Erste Asset Management GmbH raised its holdings in United Rentals by 0.5% in the 4th quarter. Erste Asset Management GmbH now owns 2,794 shares of the construction company's stock valued at $2,002,000 after acquiring an additional 14 shares in the last quarter. Forum Financial Management LP raised its holdings in United Rentals by 1.9% in the 4th quarter. Forum Financial Management LP now owns 749 shares of the construction company's stock valued at $528,000 after acquiring an additional 14 shares in the last quarter. Global Retirement Partners LLC raised its holdings in United Rentals by 4.5% in the 4th quarter. Global Retirement Partners LLC now owns 395 shares of the construction company's stock valued at $278,000 after acquiring an additional 17 shares in the last quarter. Centaurus Financial Inc. raised its holdings in United Rentals by 1.7% in the 4th quarter. Centaurus Financial Inc. now owns 999 shares of the construction company's stock valued at $704,000 after acquiring an additional 17 shares in the last quarter. Finally, Howard Capital Management Inc. raised its holdings in United Rentals by 4.6% in the 4th quarter. Howard Capital Management Inc. now owns 412 shares of the construction company's stock valued at $290,000 after acquiring an additional 18 shares in the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at United Rentals

In other United Rentals news, VP Andrew B. Limoges sold 708 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $705.86, for a total value of $499,748.88. Following the sale, the vice president now owns 1,921 shares in the company, valued at approximately $1,355,957.06. The trade was a 26.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Michael D. Durand sold 1,100 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were 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 now owns 8,748 shares in the company, valued at $5,478,697.44. This trade represents a 11.17% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Truist Financial lifted their price objective on United Rentals from $732.00 to $786.00 and gave the company a "buy" rating in a report on Friday, April 25th. Citigroup dropped their price objective on United Rentals from $720.00 to $650.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Sanford C. Bernstein raised United Rentals from an "underperform" rating to a "market perform" rating and dropped their price objective for the company from $705.00 to $666.00 in a report on Tuesday, March 25th. Redburn Atlantic lowered United Rentals from a "buy" rating to a "neutral" rating and set a $760.00 price target on the stock. in a research note on Friday, June 13th. Finally, Evercore ISI decreased their price target on United Rentals from $974.00 to $921.00 and set an "outperform" rating on the stock in a research note on Monday, May 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $753.64.

United Rentals Trading Up 0.9%

Shares of URI stock opened at $705.28 on Friday. The firm has a market capitalization of $45.84 billion, a P/E ratio of 18.26, a P/E/G ratio of 1.71 and a beta of 1.70. United Rentals, Inc. has a twelve month low of $525.91 and a twelve month high of $896.98. 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's fifty day simple moving average is $673.94 and its 200 day simple moving average is $686.88.

United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.61 billion. United Rentals had a return on equity of 33.11% and a net margin of 16.38%. The company's revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.15 EPS. As a group, sell-side analysts predict that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were given a $1.79 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 1.02%. United Rentals's dividend payout ratio (DPR) is presently 18.54%.

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.

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