Kentucky Retirement Systems Sells 379 Shares of United Rentals, Inc. (NYSE:URI)

Kentucky Retirement Systems lessened its stake in shares of United Rentals, Inc. (NYSE:URI) by 7.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,639 shares of the construction company’s stock after selling 379 shares during the quarter. Kentucky Retirement Systems’ holdings in United Rentals were worth $3,756,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Mayflower Financial Advisors LLC increased its holdings in United Rentals by 4.0% in the 3rd quarter. Mayflower Financial Advisors LLC now owns 339 shares of the construction company’s stock worth $274,000 after purchasing an additional 13 shares in the last quarter. Duncker Streett & Co. Inc. increased its stake in shares of United Rentals by 0.3% in the second quarter. Duncker Streett & Co. Inc. now owns 5,352 shares of the construction company’s stock valued at $3,461,000 after buying an additional 14 shares during the period. Ameritas Advisory Services LLC raised its holdings in United Rentals by 3.8% in the 2nd quarter. Ameritas Advisory Services LLC now owns 378 shares of the construction company’s stock valued at $244,000 after buying an additional 14 shares during the last quarter. IAM Advisory LLC boosted its position in United Rentals by 1.6% during the 3rd quarter. IAM Advisory LLC now owns 900 shares of the construction company’s stock worth $729,000 after buying an additional 14 shares during the period. Finally, CVA Family Office LLC grew its holdings in United Rentals by 1.7% during the 3rd quarter. CVA Family Office LLC now owns 844 shares of the construction company’s stock worth $683,000 after acquiring an additional 14 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at United Rentals

In related news, SVP Anthony S. Leopold sold 900 shares of United Rentals stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $823.24, for a total value of $740,916.00. Following the sale, the senior vice president now owns 2,044 shares of the company’s stock, valued at approximately $1,682,702.56. The trade was a 30.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is owned by company insiders.

United Rentals Price Performance

United Rentals stock opened at $836.00 on Friday. United Rentals, Inc. has a 52 week low of $454.71 and a 52 week high of $896.98. The company’s 50 day moving average price is $807.10 and its two-hundred day moving average price is $726.23. The stock has a market cap of $54.86 billion, a P/E ratio of 21.83, a P/E/G ratio of 1.96 and a beta of 1.68. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.01 billion. United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $11.73 earnings per share. On average, equities analysts predict that United Rentals, Inc. will post 43.55 earnings per share for the current year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $6.52 annualized dividend and a yield of 0.78%. United Rentals’s payout ratio is currently 17.03%.

Analysts Set New Price Targets

URI has been the subject of several analyst reports. Bank of America raised their price target on shares of United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Truist Financial raised their target price on United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. upped their price target on United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Citigroup raised their price objective on United Rentals from $930.00 to $955.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Barclays upped their target price on United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, United Rentals currently has an average rating of “Hold” and a consensus target price of $742.50.

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.