Kentucky Retirement Systems Reduces Holdings in United Rentals, Inc. (NYSE:URI)

Kentucky Retirement Systems trimmed its holdings in shares of United Rentals, Inc. (NYSE:URI) by 1.7% in the second quarter, HoldingsChannel reports. The firm owned 5,018 shares of the construction company’s stock after selling 85 shares during the period. Kentucky Retirement Systems’ holdings in United Rentals were worth $3,245,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Essex Financial Services Inc. boosted its position in United Rentals by 31.9% during the second quarter. Essex Financial Services Inc. now owns 563 shares of the construction company’s stock worth $364,000 after acquiring an additional 136 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in United Rentals during the fourth quarter worth approximately $780,000. Forsta AP Fonden boosted its position in United Rentals by 2.8% during the first quarter. Forsta AP Fonden now owns 14,600 shares of the construction company’s stock worth $10,528,000 after acquiring an additional 400 shares during the last quarter. Tidal Investments LLC boosted its position in United Rentals by 241.2% during the first quarter. Tidal Investments LLC now owns 4,859 shares of the construction company’s stock worth $3,504,000 after acquiring an additional 3,435 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in United Rentals during the fourth quarter worth approximately $779,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on URI shares. Truist Financial raised their target price on shares of United Rentals from $785.00 to $873.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. The Goldman Sachs Group lifted their price target on shares of United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a report on Friday, July 26th. Raymond James assumed coverage on shares of United Rentals in a report on Friday, June 28th. They issued an “outperform” rating and a $750.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on shares of United Rentals in a report on Friday, June 7th. They issued an “overweight” rating and a $780.00 price target on the stock. Finally, Evercore ISI lifted their price target on shares of United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Three 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $675.15.

Insider Transactions at United Rentals

In other news, SVP Joli L. Gross sold 360 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $690.00, for a total value of $248,400.00. Following the completion of the sale, the senior vice president now owns 4,090 shares of the company’s stock, valued at approximately $2,822,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.53% of the company’s stock.

United Rentals Stock Performance

United Rentals stock opened at $793.61 on Friday. United Rentals, Inc. has a 12-month low of $387.01 and a 12-month high of $801.39. The company has a market capitalization of $52.85 billion, a price-to-earnings ratio of 21.50, a price-to-earnings-growth ratio of 1.72 and a beta of 1.68. 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 firm’s fifty day moving average price is $717.64 and its 200 day moving average price is $685.92.

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

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend was Wednesday, August 14th. United Rentals’s payout ratio is currently 17.66%.

United Rentals Company 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.