California Public Employees Retirement System Sells 9,810 Shares of United Rentals, Inc. (NYSE:URI)

California Public Employees Retirement System cut its position in shares of United Rentals, Inc. (NYSE:URI) by 8.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 108,007 shares of the construction company’s stock after selling 9,810 shares during the quarter. California Public Employees Retirement System’s holdings in United Rentals were worth $76,084,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Rialto Wealth Management LLC bought a new position in shares of United Rentals in the 4th quarter worth about $25,000. ORG Wealth Partners LLC bought a new stake in United Rentals in the fourth quarter worth approximately $26,000. Murphy & Mullick Capital Management Corp bought a new stake in United Rentals in the fourth quarter worth approximately $27,000. Hanson & Doremus Investment Management bought a new position in shares of United Rentals during the 4th quarter worth approximately $33,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of United Rentals during the 4th quarter worth approximately $34,000. Institutional investors own 96.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on URI shares. Evercore ISI dropped their target price on shares of United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Morgan Stanley dropped their price objective on shares of United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. JPMorgan Chase & Co. raised their target price on United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Baird R W raised United Rentals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Bank of America reduced their price objective on United Rentals from $850.00 to $750.00 and set a “buy” rating for the company in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, United Rentals has an average rating of “Moderate Buy” and a consensus target price of $804.15.

United Rentals Stock Down 0.3 %

Shares of NYSE:URI opened at $625.97 on Tuesday. The business’s 50 day moving average is $684.08 and its 200 day moving average is $754.67. United Rentals, Inc. has a 12-month low of $585.27 and a 12-month high of $896.98. The stock has a market cap of $40.90 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 1.43 and a beta of 1.76. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, January 29th. The construction company reported $11.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.65 by ($0.06). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. On average, sell-side analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a $1.79 dividend. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. The ex-dividend date was Wednesday, February 12th. This represents a $7.16 annualized dividend and a yield of 1.14%. United Rentals’s dividend payout ratio (DPR) is 18.48%.

Insiders Place Their Bets

In related news, CFO William E. Grace sold 1,100 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $638.10, for a total transaction of $701,910.00. Following the completion of the sale, the chief financial officer now directly owns 6,880 shares of the company’s stock, valued at approximately $4,390,128. This trade represents a 13.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.53% of the company’s stock.

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.