United Rentals, Inc. $URI Stake Lifted by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System reported acquiring more than 110 million United Rentals shares in the second quarter, while institutional investors collectively own 96.26% of the stock. The reported ownership figure appears unusually high and may reflect a filing or data error.
• Analysts remain broadly positive on United Rentals, with a consensus “Moderate Buy” rating and an average price target of $1,246.19. Recent targets range from $950 to $1,330.
• United Rentals exceeded quarterly expectations, reporting $12.76 in EPS and $4.41 billion in revenue, with revenue up 11.8% year over year. The company also pays a quarterly dividend of $1.97 per share, equivalent to a 0.8% annualized yield.

California State Teachers Retirement System lifted its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 110,181.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 110,282,310 shares of the construction company's stock after acquiring an additional 110,182,309 shares during the quarter. California State Teachers Retirement System owned about 177.19% of United Rentals worth $124,937,726,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in United Rentals in the second quarter worth about $5,816,326,000. Norges Bank bought a new position in shares of United Rentals during the 4th quarter valued at about $978,017,000. Bank of America Corp DE acquired a new position in shares of United Rentals in the 2nd quarter worth approximately $944,196,000. The Manufacturers Life Insurance Company bought a new stake in shares of United Rentals in the 2nd quarter worth approximately $716,129,000. Finally, Bank of New York Mellon Corp acquired a new stake in United Rentals during the second quarter valued at approximately $412,860,000. Institutional investors own 96.26% of the company's stock.

Analyst Upgrades and Downgrades

URI has been the topic of several research reports. Barclays upped their price target on United Rentals from $715.00 to $950.00 and gave the company an "underweight" rating in a report on Friday, July 24th. Argus restated a "buy" rating and issued a $1,250.00 target price on shares of United Rentals in a report on Tuesday, August 4th. BNP Paribas Exane raised United Rentals from a "neutral" rating to an "outperform" rating and set a $1,320.00 target price on the stock in a research report on Monday, June 29th. Citigroup upped their target price on United Rentals from $1,270.00 to $1,330.00 and gave the company a "buy" rating in a report on Friday, July 24th. Finally, Evercore reiterated an "outperform" rating and issued a $1,101.00 price target on shares of United Rentals in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,246.19.

United Rentals Stock Down 0.0%

United Rentals stock opened at $1,009.78 on Monday. The firm's 50 day moving average price is $1,087.43 and its two-hundred day moving average price is $962.34. The firm has a market cap of $62.85 billion, a PE ratio of 24.25, a P/E/G ratio of 1.49 and a beta of 1.79. United Rentals, Inc. has a twelve month low of $701.59 and a twelve month high of $1,179.18. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.70 and a current ratio of 0.76.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, topping analysts' consensus estimates of $11.53 by $1.23. The firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The firm's revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $10.47 earnings per share. On average, research analysts predict that United Rentals, Inc. will post 48.55 EPS for the current fiscal year.

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were given a dividend of $1.97 per share. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $7.88 dividend on an annualized basis and a yield of 0.8%. United Rentals's dividend payout ratio is presently 18.92%.

Insider Activity at United Rentals

In other news, EVP William Grace sold 1,500 shares of the business's stock in a transaction on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the completion of the sale, the executive vice president directly owned 6,062 shares in the company, valued at approximately $6,869,155.30. The trade was a 19.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

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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