United Rentals, Inc. (NYSE:URI) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its position in United Rentals, Inc. (NYSE:URI) by 37.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 24,676 shares of the construction company’s stock after selling 14,560 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in United Rentals were worth $15,959,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in URI. First Financial Corp IN acquired a new stake in shares of United Rentals in the 1st quarter valued at approximately $25,000. Crewe Advisors LLC acquired a new stake in United Rentals in the first quarter valued at $27,000. Rise Advisors LLC acquired a new position in shares of United Rentals during the 1st quarter worth $28,000. RFP Financial Group LLC increased its holdings in shares of United Rentals by 115.8% in the 2nd quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock valued at $27,000 after purchasing an additional 22 shares in the last quarter. Finally, Riverview Trust Co acquired a new stake in shares of United Rentals in the first quarter valued at about $31,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insider Buying and Selling at United Rentals

In related news, SVP Joli L. Gross sold 360 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $690.00, for a total value of $248,400.00. Following the transaction, the senior vice president now owns 4,090 shares in the company, valued at $2,822,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is owned by company insiders.

United Rentals Trading Up 2.4 %

NYSE URI opened at $729.47 on Friday. The company has a market cap of $48.58 billion, a P/E ratio of 19.76, a P/E/G ratio of 1.64 and a beta of 1.68. United Rentals, Inc. has a 12 month low of $387.01 and a 12 month high of $789.80. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.81 and a quick ratio of 0.76. The company has a 50-day moving average of $710.11 and a 200-day moving average of $684.42.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share for the quarter, topping analysts’ consensus estimates of $10.48 by $0.22. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter last year, the firm posted $9.88 earnings per share. United Rentals’s revenue was up 6.2% on a year-over-year basis. As a group, equities analysts predict that United Rentals, Inc. will post 44.39 earnings per share for the current year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend was Wednesday, August 14th. United Rentals’s payout ratio is currently 17.66%.

Wall Street Analysts Forecast Growth

URI has been the topic of several recent analyst reports. The Goldman Sachs Group upped their target price on shares of United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Truist Financial raised their price objective on United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Raymond James assumed coverage on United Rentals in a research report on Friday, June 28th. They set an “outperform” rating and a $750.00 target price on the stock. Evercore ISI lifted their price target on United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Finally, Citigroup assumed coverage on shares of United Rentals in a report on Wednesday, June 26th. They set a “buy” rating and a $745.00 target price for the company. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, United Rentals currently has an average rating of “Hold” and an average price target of $675.15.

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.