State of Alaska Department of Revenue Increases Stock Position in United Rentals, Inc. (NYSE:URI)

State of Alaska Department of Revenue increased its position in United Rentals, Inc. (NYSE:URI) by 6.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,740 shares of the construction company’s stock after buying an additional 495 shares during the period. State of Alaska Department of Revenue’s holdings in United Rentals were worth $6,267,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. International Assets Investment Management LLC increased its stake in United Rentals by 82,462.2% during the third quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock worth $1,300,962,000 after acquiring an additional 1,604,715 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in United Rentals by 4.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 637,188 shares of the construction company’s stock worth $412,089,000 after purchasing an additional 27,708 shares in the last quarter. Capital International Investors purchased a new position in United Rentals in the first quarter valued at approximately $332,349,000. AMF Tjanstepension AB lifted its position in United Rentals by 77.7% during the second quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock valued at $295,626,000 after buying an additional 199,810 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in United Rentals by 5.7% during the second quarter. Hsbc Holdings PLC now owns 382,536 shares of the construction company’s stock worth $247,001,000 after buying an additional 20,481 shares during the period. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Stock Performance

Shares of URI stock opened at $824.65 on Tuesday. The stock has a market capitalization of $54.11 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 1.87 and a beta of 1.68. United Rentals, Inc. has a one year low of $395.44 and a one year high of $861.74. The company’s 50-day simple moving average is $774.77 and its 200-day simple moving average is $709.41. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.77 and a current ratio of 0.82.

United Rentals (NYSE:URI) last released its 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). United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the prior year, the business earned $11.73 EPS. The company’s quarterly revenue was up 6.0% on a year-over-year basis. Equities analysts anticipate that United Rentals, Inc. will post 44.31 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid 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 0.79%. United Rentals’s payout ratio is 17.03%.

Wall Street Analyst Weigh In

URI has been the topic of a number of research reports. Bank of America raised their target price 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. Barclays boosted their price objective on United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a research note on Friday. JPMorgan Chase & Co. increased their target price on United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Citigroup boosted their price target on United Rentals from $930.00 to $955.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Evercore ISI increased their price objective on shares of United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $742.50.

Insider Transactions at United Rentals

In related news, SVP Joli L. Gross sold 360 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $690.00, for a total transaction of $248,400.00. Following the sale, the senior vice president now owns 4,090 shares in the company, valued at $2,822,100. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.49% of the company’s stock.

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.