Teachers Retirement System of The State of Kentucky Reduces Holdings in United Rentals, Inc. $URI

Key Points

• Teachers Retirement System of Kentucky cut its United Rentals stake by 2.6% in the first quarter, leaving it with 57,462 shares valued at about $41.9 million.
• Insiders sold shares as well, including EVP Craig Adam Pintoff and VP Andrew B. Limoges, with total insider sales of 26,088 shares worth about $25.6 million last quarter.
• Analysts remain mostly bullish: several firms raised price targets, and the stock now has a Moderate Buy consensus with an average target of $1,124.69, while recent earnings came in below expectations despite revenue growth.

Teachers Retirement System of The State of Kentucky lowered its position in United Rentals, Inc. (NYSE:URI - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,462 shares of the construction company's stock after selling 1,560 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.09% of United Rentals worth $41,865,000 at the end of the most recent reporting period.

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

Insider Activity at United Rentals

In related news, EVP Craig Adam Pintoff sold 2,466 shares of the company's stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $963.00, for a total value of $2,374,758.00. Following the sale, the executive vice president owned 14,774 shares in the company, valued at $14,227,362. This represents a 14.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Andrew B. Limoges sold 548 shares of the company'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 completion of the sale, the vice president directly owned 1,865 shares in the company, valued at $1,823,708.90. This trade represents a 22.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 26,088 shares of company stock worth $25,628,877 in the last quarter. 0.47% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on URI shares. KeyCorp increased their target price on United Rentals from $1,150.00 to $1,250.00 and gave the stock an "overweight" rating in a research note on Thursday, June 25th. BNP Paribas Exane raised shares of United Rentals from a "neutral" rating to an "outperform" rating and set a $1,320.00 price target on the stock in a research note on Monday, June 29th. Royal Bank Of Canada boosted their price objective on shares of United Rentals from $1,041.00 to $1,119.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Bank of America raised their target price on shares of United Rentals from $1,020.00 to $1,195.00 and gave the stock a "buy" rating in a research report on Thursday, June 25th. Finally, Robert W. Baird boosted their price target on United Rentals from $970.00 to $1,100.00 and gave the company an "outperform" rating in a report on Friday, April 24th. Fourteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, United Rentals currently has a consensus rating of "Moderate Buy" and an average price target of $1,124.69.

United Rentals Trading Up 0.1%

Shares of NYSE:URI opened at $1,096.69 on Monday. The company has a market capitalization of $68.70 billion, a PE ratio of 27.98, a P/E/G ratio of 1.75 and a beta of 1.79. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37. United Rentals, Inc. has a 12-month low of $701.59 and a 12-month high of $1,143.69. The business's fifty day simple moving average is $1,029.74 and its 200-day simple moving average is $902.60.

United Rentals (NYSE:URI - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing analysts' consensus estimates of $11.47 by ($1.76). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The firm had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.20 billion. During the same quarter in the prior year, the firm posted $8.86 earnings per share. The business's revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, equities research analysts predict that United Rentals, Inc. will post 46.7 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were given a $1.97 dividend. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, May 13th. United Rentals's dividend payout ratio (DPR) is presently 20.10%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.