Strs Ohio Sells 3,002 Shares of United Rentals, Inc. $URI

Key Points

• Strs Ohio cut its stake in United Rentals by 8.2% in the first quarter, selling 3,002 shares and ending with 33,468 shares worth about $24.4 million.
• Insiders have been selling shares, including CEO Matthew John Flannery and SVP Joli L. Gross, with insiders selling 26,088 shares worth about $25.6 million over the last 90 days.
• Analysts remain broadly positive on URI, with 15 Buy ratings and a consensus “Moderate Buy” rating; the average price target is $1,119.69, slightly above the stock’s recent trading level.

Strs Ohio reduced its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 8.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,468 shares of the construction company's stock after selling 3,002 shares during the period. Strs Ohio owned about 0.05% of United Rentals worth $24,383,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Aventura Private Wealth LLC acquired a new position in United Rentals during the 4th quarter worth approximately $27,000. Core Wealth Advisors LLC bought a new position in shares of United Rentals during the 4th quarter worth approximately $28,000. MV Capital Management Inc. acquired a new stake in shares of United Rentals in the fourth quarter valued at approximately $28,000. Board of the Pension Protection Fund acquired a new stake in shares of United Rentals in the fourth quarter valued at approximately $32,000. Finally, Laurel Wealth Advisors LLC bought a new stake in shares of United Rentals in the fourth quarter worth $32,000. 96.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Joli L. Gross sold 306 shares of the firm's stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $954.99, for a total value of $292,226.94. Following the completion of the sale, the senior vice president directly owned 5,738 shares of the company's stock, valued at $5,479,732.62. This trade represents a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Matthew John Flannery sold 22,768 shares of United Rentals stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $984.98, for a total value of $22,426,024.64. Following the transaction, the chief executive officer owned 99,980 shares of the company's stock, valued at $98,478,300.40. This represents a 18.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 26,088 shares of company stock worth $25,628,877 over the last ninety days. 0.47% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on URI shares. Citigroup raised their target price on shares of United Rentals from $950.00 to $1,130.00 and gave the company a "buy" rating in a research report on Friday, April 24th. JPMorgan Chase & Co. boosted their price target on shares of United Rentals from $850.00 to $1,050.00 and gave the stock an "overweight" rating in a research report on Friday, April 24th. Truist Financial increased their price objective on shares of United Rentals from $1,209.00 to $1,421.00 and gave the stock a "buy" rating in a research note on Thursday. Robert W. Baird raised their price objective on United Rentals from $970.00 to $1,100.00 and gave the company an "outperform" rating in a report on Friday, April 24th. Finally, Bank of America lifted their target price on United Rentals from $1,020.00 to $1,195.00 and gave the company a "buy" rating in a research report on Thursday, June 25th. Fifteen investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, United Rentals currently has a consensus rating of "Moderate Buy" and an average price target of $1,119.69.

United Rentals Stock Performance

Shares of URI opened at $1,100.43 on Friday. The firm has a 50-day moving average of $1,018.24 and a 200-day moving average of $892.34. United Rentals, Inc. has a one year low of $701.59 and a one year high of $1,143.69. The company has a market cap of $68.94 billion, a PE ratio of 28.07, a price-to-earnings-growth ratio of 1.76 and a beta of 1.79. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.74.

United Rentals (NYSE:URI - Get Free Report) last issued its 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). United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The firm had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.20 billion. During the same period in the previous year, the company posted $8.86 earnings per share. The firm's revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, equities analysts forecast that United Rentals, Inc. will post 46.76 earnings per share for the current year.

United Rentals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were given a dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, May 13th. United Rentals's payout ratio is 20.10%.

About United Rentals

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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