United Rentals, Inc. $URI Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in United Rentals, Inc. by 12.1%, retaining 21,389 shares valued at $13.40 million as of its latest SEC filing.
• Analysts have mixed views on United Rentals; while Barclays set a price objective of $620.00, Citigroup and Goldman Sachs raised their targets to $810.00 and $850.00, respectively, indicating a range of investment sentiment.
• United Rentals reported earnings per share (EPS) of $10.47 for the last quarter, which fell short of the expected $10.54, despite revenues of $3.94 billion surpassing estimates.

State of New Jersey Common Pension Fund D lowered its position in United Rentals, Inc. (NYSE:URI - Free Report) by 12.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,389 shares of the construction company's stock after selling 2,944 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in United Rentals were worth $13,404,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. GAMMA Investing LLC increased its position in United Rentals by 77,674.5% during the first quarter. GAMMA Investing LLC now owns 887,407 shares of the construction company's stock worth $556,138,000 after buying an additional 886,266 shares in the last quarter. Nuveen LLC acquired a new position in United Rentals in the 1st quarter valued at about $402,291,000. JPMorgan Chase & Co. lifted its holdings in United Rentals by 98.1% in the 1st quarter. JPMorgan Chase & Co. now owns 1,093,805 shares of the construction company's stock valued at $685,488,000 after purchasing an additional 541,579 shares in the last quarter. Leigh Baldwin & CO. LLC purchased a new position in United Rentals in the 4th quarter valued at about $330,989,000. Finally, Capital World Investors boosted its stake in shares of United Rentals by 17.1% during the 4th quarter. Capital World Investors now owns 2,221,228 shares of the construction company's stock worth $1,564,722,000 after purchasing an additional 323,636 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on URI. Morgan Stanley boosted their price objective on shares of United Rentals from $702.00 to $955.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Cfra Research upgraded United Rentals to a "strong-buy" rating in a report on Friday, April 25th. The Goldman Sachs Group increased their price target on United Rentals from $770.00 to $850.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Redburn Atlantic lowered United Rentals from a "buy" rating to a "neutral" rating and set a $760.00 target price for the company. in a research note on Friday, June 13th. Finally, Citigroup reissued a "buy" rating and issued a $810.00 price target (up from $740.00) on shares of United Rentals in a research note on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, United Rentals has an average rating of "Moderate Buy" and an average price target of $834.64.

United Rentals Trading Up 0.2%

URI traded up $2.2220 during trading on Tuesday, hitting $916.2620. 306,038 shares of the company's stock were exchanged, compared to its average volume of 604,533. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year high of $933.32. The stock has a 50 day moving average price of $809.68 and a 200 day moving average price of $710.22. The firm has a market cap of $58.95 billion, a P/E ratio of 23.69, a price-to-earnings-growth ratio of 2.11 and a beta of 1.72. 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 (NYSE:URI - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The construction company reported $10.47 earnings per share 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 business had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same quarter in the previous year, the firm posted $10.70 EPS. The business's revenue was up 4.5% compared to the same quarter last year. United Rentals has set its FY 2025 guidance at EPS. As a group, analysts expect that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th will be paid a $1.79 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 0.8%. United Rentals's dividend payout ratio (DPR) 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.