State of Alaska Department of Revenue Buys 2,265 Shares of United Rentals, Inc. (NYSE:URI)

State of Alaska Department of Revenue boosted its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 30.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,750 shares of the construction company's stock after acquiring an additional 2,265 shares during the period. State of Alaska Department of Revenue's holdings in United Rentals were worth $6,110,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of United Rentals during the fourth quarter worth about $695,716,000. GAMMA Investing LLC grew its holdings in United Rentals by 77,674.5% during the 1st quarter. GAMMA Investing LLC now owns 887,407 shares of the construction company's stock valued at $556,138,000 after buying an additional 886,266 shares in the last quarter. Leigh Baldwin & CO. LLC bought a new stake in shares of United Rentals during the fourth quarter valued at approximately $330,989,000. Capital World Investors lifted its holdings in shares of United Rentals by 17.1% in the fourth quarter. Capital World Investors now owns 2,221,228 shares of the construction company's stock worth $1,564,722,000 after buying an additional 323,636 shares in the last quarter. Finally, Capital International Investors lifted its holdings in shares of United Rentals by 41.0% in the fourth quarter. Capital International Investors now owns 1,051,365 shares of the construction company's stock worth $740,624,000 after buying an additional 305,491 shares in the last quarter. Institutional investors own 96.26% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on URI shares. Truist Financial raised their target price on shares of United Rentals from $732.00 to $786.00 and gave the company a "buy" rating in a research note on Friday, April 25th. Evercore ISI cut their price objective on United Rentals from $974.00 to $921.00 and set an "outperform" rating for the company in a research report on Monday, May 19th. Morgan Stanley upgraded United Rentals from an "equal weight" rating to an "overweight" rating and set a $702.00 target price on the stock in a research report on Wednesday, April 16th. Citigroup cut their price target on United Rentals from $720.00 to $650.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Finally, Sanford C. Bernstein raised United Rentals from an "underperform" rating to a "market perform" rating and reduced their price objective for the stock from $705.00 to $666.00 in a research note on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $753.64.

Insider Buying and Selling

In related news, VP Andrew B. Limoges sold 708 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $705.86, for a total transaction of $499,748.88. Following the completion of the transaction, the vice president now owns 1,921 shares in the company, valued at $1,355,957.06. The trade was a 26.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael D. Durand sold 1,100 shares of the company's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $626.28, for a total value of $688,908.00. Following the completion of the transaction, the executive vice president now directly owns 8,748 shares in the company, valued at $5,478,697.44. This trade represents a 11.17% decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

United Rentals Trading Up 0.9%

Shares of United Rentals stock traded up $6.61 on Friday, reaching $705.28. The company had a trading volume of 714,662 shares, compared to its average volume of 586,916. The firm has a market cap of $45.84 billion, a price-to-earnings ratio of 18.26, a P/E/G ratio of 1.71 and a beta of 1.70. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.85 and a quick ratio of 0.79. The firm's 50-day moving average price is $671.47 and its two-hundred day moving average price is $688.02. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year high of $896.98.

United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The construction company reported $8.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $8.92 by ($0.06). United Rentals had a return on equity of 33.11% and a net margin of 16.38%. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter in the prior year, the business earned $9.15 earnings per share. The firm's quarterly revenue was up 6.7% compared to the same quarter last year. As a group, research analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were issued a dividend of $1.79 per share. The ex-dividend date was Wednesday, May 14th. This represents a $7.16 annualized dividend and a yield of 1.02%. United Rentals's payout ratio is 18.54%.

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.