Strs Ohio Has $29.52 Million Stock Position in United Rentals, Inc. $URI

Key Points

• STRS Ohio trimmed its stake in United Rentals by 19.6%, selling 8,915 shares and leaving it with 36,470 shares valued at $29.52 million, while institutional investors own about 96.26% of the stock.
• United Rentals missed Q1 estimates, reporting EPS of $9.71 versus $11.47 expected and revenue of $3.99 billion versus $4.20 billion, but the company authorized a $5.0 billion share buyback and declared a $1.97 quarterly dividend.
• Insiders have been net sellers, offloading 30,076 shares worth roughly $28.8 million in the past 90 days (insiders own ~0.47%), even as analysts lift price targets and the consensus is a "Moderate Buy."

Strs Ohio trimmed its holdings in United Rentals, Inc. (NYSE:URI - Free Report) by 19.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,470 shares of the construction company's stock after selling 8,915 shares during the period. Strs Ohio owned 0.06% of United Rentals worth $29,516,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Woodline Partners LP lifted its position in shares of United Rentals by 40.0% during the 1st quarter. Woodline Partners LP now owns 5,518 shares of the construction company's stock worth $3,458,000 after buying an additional 1,577 shares during the last quarter. Sei Investments Co. increased its position in United Rentals by 24.7% in the 2nd quarter. Sei Investments Co. now owns 27,136 shares of the construction company's stock valued at $20,444,000 after acquiring an additional 5,375 shares during the period. Treasurer of the State of North Carolina raised its position in United Rentals by 43.6% during the 2nd quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company's stock worth $42,233,000 after purchasing an additional 17,030 shares during the last quarter. HUB Investment Partners LLC lifted its stake in shares of United Rentals by 11.3% in the second quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company's stock worth $1,661,000 after acquiring an additional 223 shares during the period. Finally, Diversify Advisory Services LLC lifted its position in shares of United Rentals by 338.7% in the 2nd quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company's stock worth $1,246,000 after purchasing an additional 1,277 shares during the period. Institutional investors and hedge funds own 96.26% of the company's stock.

Insider Activity

In related news, EVP Michael D. Durand sold 2,490 shares of United Rentals stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $791.14, for a total value of $1,969,938.60. Following the sale, the executive vice president owned 7,458 shares in the company, valued at $5,900,322.12. The trade was a 25.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Andrew B. Limoges sold 548 shares of the business's stock in a transaction on Friday, April 24th. The shares were sold at an average price of $977.86, for a total transaction of $535,867.28. Following the transaction, the vice president directly owned 1,865 shares in the company, valued at approximately $1,823,708.90. The trade was a 22.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 30,076 shares of company stock valued at $28,783,569. 0.47% of the stock is owned by insiders.

United Rentals Stock Performance

Shares of NYSE:URI opened at $952.13 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37. The company has a 50-day moving average price of $802.13 and a 200-day moving average price of $841.19. The company has a market cap of $59.65 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 1.51 and a beta of 1.83. United Rentals, Inc. has a 12 month low of $645.18 and a 12 month high of $1,021.47.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $11.47 by ($1.76). The business had revenue of $3.99 billion for the quarter, compared to analysts' expectations of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The firm's revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.86 EPS. As a group, equities analysts anticipate that United Rentals, Inc. will post 46.99 EPS for the current year.

United Rentals announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 8.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its stock is undervalued.

United Rentals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th will be paid a dividend of $1.97 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $7.88 annualized dividend and a dividend yield of 0.8%. United Rentals's payout ratio is 20.10%.

Wall Street Analyst Weigh In

A number of research firms have commented on URI. Citigroup raised their price target on shares of United Rentals from $950.00 to $1,130.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Morgan Stanley reiterated an "overweight" rating and set a $1,030.00 price target on shares of United Rentals in a report on Friday, April 24th. Weiss Ratings reiterated a "hold (c+)" rating on shares of United Rentals in a research note on Monday, April 20th. KeyCorp raised their target price on United Rentals from $950.00 to $1,150.00 and gave the company an "overweight" rating in a research report on Friday, April 24th. Finally, JPMorgan Chase & Co. boosted their target price on shares of United Rentals from $850.00 to $1,050.00 and gave the company an "overweight" rating in a report on Friday, April 24th. Thirteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, United Rentals presently has a consensus rating of "Moderate Buy" and an average target price of $986.35.

United Rentals Profile

United Rentals, Inc NYSE: URI is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company's product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.

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