Texas Permanent School Fund Corp Decreases Stock Holdings in United Rentals, Inc. (NYSE:URI)

Texas Permanent School Fund Corp lowered its stake in United Rentals, Inc. (NYSE:URI) by 0.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,890 shares of the construction company’s stock after selling 106 shares during the period. Texas Permanent School Fund Corp’s holdings in United Rentals were worth $10,016,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of URI. First Financial Corp IN purchased a new position in shares of United Rentals in the 1st quarter valued at approximately $25,000. Rise Advisors LLC bought a new stake in shares of United Rentals in the 1st quarter worth approximately $28,000. Riverview Trust Co purchased a new stake in shares of United Rentals in the 1st quarter worth approximately $31,000. AdvisorNet Financial Inc raised its position in shares of United Rentals by 71.4% in the 4th quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock worth $28,000 after purchasing an additional 20 shares during the last quarter. Finally, PFS Partners LLC bought a new position in shares of United Rentals in the first quarter worth approximately $36,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on URI. JPMorgan Chase & Co. initiated coverage on United Rentals in a research note on Friday, June 7th. They issued an “overweight” rating and a $780.00 price target for the company. Citigroup assumed coverage on United Rentals in a report on Wednesday, June 26th. They issued a “buy” rating and a $745.00 target price on the stock. Stifel Nicolaus increased their price objective on shares of United Rentals from $720.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. The Goldman Sachs Group lifted their target price on United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Truist Financial lowered their target price on shares of United Rentals from $796.00 to $785.00 and set a “buy” rating on the stock in a research note on Tuesday, July 2nd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $637.67.

United Rentals Stock Up 2.5 %

URI stock traded up $16.92 during trading on Friday, hitting $683.21. 94,922 shares of the company’s stock traded hands, compared to its average volume of 567,288. The business has a fifty day simple moving average of $655.94 and a two-hundred day simple moving average of $649.50. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $45.49 billion, a P/E ratio of 18.05, a PEG ratio of 2.12 and a beta of 1.71. United Rentals, Inc. has a 1 year low of $387.01 and a 1 year high of $732.37.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, beating analysts’ consensus estimates of $8.35 by $0.80. The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.44 billion. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $7.95 earnings per share. Sell-side analysts anticipate that United Rentals, Inc. will post 43.76 EPS for the current year.

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th were given a dividend of $1.63 per share. The ex-dividend date was Tuesday, May 7th. This represents a $6.52 dividend on an annualized basis and a yield of 0.95%. United Rentals’s payout ratio is 17.66%.

Insider Buying and Selling at United Rentals

In other news, CEO Matthew John Flannery sold 8,379 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total transaction of $5,862,199.77. Following the completion of the sale, the chief executive officer now owns 103,400 shares in the company, valued at approximately $72,341,742. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Matthew John Flannery sold 8,379 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total transaction of $5,862,199.77. Following the transaction, the chief executive officer now owns 103,400 shares in the company, valued at $72,341,742. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Michael D. Durand sold 559 shares of United Rentals stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $674.56, for a total transaction of $377,079.04. Following the completion of the sale, the chief operating officer now owns 8,052 shares of the company’s stock, valued at $5,431,557.12. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

About United Rentals

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.