State of Alaska Department of Revenue Sells 345 Shares of United Rentals, Inc. $URI

Key Points

• The State of Alaska Department of Revenue reduced its position in United Rentals, Inc. by 3.5%, selling 345 shares and holding a total of 9,405 shares valued at $7,085,000.
• KeyCorp and UBS Group recently increased their price targets for United Rentals, with KeyCorp setting its target at $1,120, indicating a positive outlook on the stock's performance.
• United Rentals announced a quarterly dividend of $1.79 per share, with an annualized dividend yield of 0.8%, reflecting the company's commitment to returning value to shareholders.

State of Alaska Department of Revenue reduced its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 3.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,405 shares of the construction company's stock after selling 345 shares during the quarter. State of Alaska Department of Revenue's holdings in United Rentals were worth $7,085,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in URI. Fourth Dimension Wealth LLC bought a new position in United Rentals in the 1st quarter worth $26,000. TruNorth Capital Management LLC raised its holdings in United Rentals by 1,266.7% in the 1st quarter. TruNorth Capital Management LLC now owns 41 shares of the construction company's stock worth $26,000 after purchasing an additional 38 shares in the last quarter. Flaharty Asset Management LLC bought a new position in United Rentals in the 1st quarter worth $30,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in United Rentals by 69.0% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 49 shares of the construction company's stock worth $31,000 after purchasing an additional 20 shares in the last quarter. Finally, Maseco LLP bought a new position in United Rentals in the 2nd quarter worth $32,000. 96.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on URI shares. KeyCorp upped their price objective on shares of United Rentals from $1,075.00 to $1,120.00 and gave the stock an "overweight" rating in a report on Thursday. UBS Group upped 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. BNP Paribas set a $900.00 target price on shares of United Rentals and gave the stock a "neutral" rating in a research report on Tuesday, September 16th. Sanford C. Bernstein set a $1,128.00 target price on shares of United Rentals and gave the stock an "outperform" rating in a research report on Tuesday, September 23rd. Finally, Bank of America upped their target price on shares of United Rentals from $895.00 to $900.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, United Rentals presently has an average rating of "Moderate Buy" and a consensus price target of $911.06.

United Rentals Stock Performance

Shares of URI stock opened at $947.47 on Monday. United Rentals, Inc. has a one year low of $525.91 and a one year high of $980.53. The company's 50-day moving average is $913.99 and its 200 day moving average is $762.86. The company has a market capitalization of $60.96 billion, a price-to-earnings ratio of 24.50, a price-to-earnings-growth ratio of 2.19 and a beta of 1.72. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.80 and a current ratio of 0.86.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The construction company reported $10.47 EPS for the quarter, missing the consensus estimate of $10.54 by ($0.07). United Rentals had a net margin of 16.11% and a return on equity of 32.01%. The firm had revenue of $3.94 billion for the quarter, compared to analysts' expectations of $3.90 billion. During the same period last year, the company posted $10.70 earnings per share. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. United Rentals has set its FY 2025 guidance at EPS. Sell-side analysts expect that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th were given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, August 13th. United Rentals's dividend payout ratio is 18.52%.

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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