United Rentals, Inc. $URI Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Boosts Position

Key Points

• Virginia Retirement Systems increased its United Rentals position by 48.8% in the third quarter, bringing its holdings to 29,640 shares valued at approximately $29.7 million. Institutional investors collectively own 96.26% of the company.
• United Rentals exceeded quarterly expectations, reporting $15.55 in EPS and $4.89 billion in revenue, with revenue up 15.7% year over year.
• The company declared a quarterly dividend of $1.97 per share, equal to a $7.88 annualized payout and a 0.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $1,288.19.

VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in United Rentals, Inc. (NYSE:URI - Free Report) by 48.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,640 shares of the construction company's stock after purchasing an additional 9,720 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in United Rentals were worth $29,663,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of United Rentals during the 2nd quarter valued at $5,816,326,000. Bank of America Corp DE bought a new position in shares of United Rentals in the second quarter worth $944,196,000. The Manufacturers Life Insurance Company purchased a new stake in shares of United Rentals in the second quarter worth $716,129,000. Bank of New York Mellon Corp purchased a new stake in shares of United Rentals in the second quarter worth $412,860,000. Finally, Legal & General Group Plc purchased a new stake in shares of United Rentals in the second quarter worth $411,896,000. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

United Rentals Trading Down 2.6%

URI stock opened at $1,167.43 on Friday. The company has a market capitalization of $72.29 billion, a PE ratio of 25.66, a price-to-earnings-growth ratio of 1.66 and a beta of 1.83. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.73 and a current ratio of 0.80. United Rentals, Inc. has a one year low of $701.59 and a one year high of $1,202.12. The company's 50 day moving average price is $1,049.13 and its two-hundred day moving average price is $970.70.

United Rentals (NYSE:URI - Get Free Report) last issued its earnings results on Wednesday, October 21st. The construction company reported $15.55 EPS for the quarter, topping analysts' consensus estimates of $13.97 by $1.58. United Rentals had a net margin of 16.33% and a return on equity of 33.47%. The company had revenue of $4.89 billion for the quarter, compared to analysts' expectations of $4.71 billion. During the same quarter last year, the company earned $11.70 EPS. The firm's revenue was up 15.7% compared to the same quarter last year. As a group, analysts predict that United Rentals, Inc. will post 51.17 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Wednesday, November 11th will be issued a $1.97 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. United Rentals's payout ratio is currently 17.32%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on URI shares. Sanford C. Bernstein set a $1,258.00 price objective on United Rentals in a research note on Friday, October 23rd. Wells Fargo & Company lifted their price target on United Rentals from $1,245.00 to $1,355.00 and gave the company an "overweight" rating in a research report on Friday, July 24th. Weiss Ratings reiterated a "buy (b-)" rating on shares of United Rentals in a research report on Wednesday, October 21st. KeyCorp reissued an "overweight" rating on shares of United Rentals in a report on Friday, October 23rd. Finally, Truist Financial raised their price objective on shares of United Rentals from $1,395.00 to $1,450.00 and gave the company a "buy" rating in a research report on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has given 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 a consensus price target of $1,288.19.

United Rentals Company Profile

United Rentals, Inc is an equipment rental company serving construction, industrial, infrastructure, utilities, government and other commercial customers. The company provides access to equipment and related services through a network of rental locations, helping customers manage projects without purchasing and maintaining all of the equipment they need.

Its rental fleet includes aerial work platforms, earthmoving equipment, material-handling equipment, general construction tools, trucks and trailers, and light-duty equipment.

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