Illinois Municipal Retirement Fund Decreases Stock Position in United Rentals, Inc. (NYSE:URI)

Illinois Municipal Retirement Fund decreased its position in shares of United Rentals, Inc. (NYSE:URI) by 17.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,567 shares of the construction company’s stock after selling 526 shares during the period. Illinois Municipal Retirement Fund’s holdings in United Rentals were worth $1,808,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in URI. FMR LLC increased its position in shares of United Rentals by 3.7% during the third quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock worth $1,956,768,000 after acquiring an additional 85,325 shares during the last quarter. Geode Capital Management LLC increased its holdings in United Rentals by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,566,802 shares of the construction company’s stock worth $1,264,326,000 after purchasing an additional 9,256 shares during the last quarter. Franklin Resources Inc. raised its position in shares of United Rentals by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock valued at $862,110,000 after purchasing an additional 57,002 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of United Rentals by 15.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock valued at $637,968,000 after purchasing an additional 105,287 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of United Rentals by 7.6% during the 4th quarter. Nordea Investment Management AB now owns 732,954 shares of the construction company’s stock valued at $517,018,000 after buying an additional 52,037 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Evercore ISI dropped their price target on shares of United Rentals from $1,004.00 to $974.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Argus boosted their target price on shares of United Rentals from $840.00 to $880.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. increased their price target on shares of United Rentals from $940.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Baird R W raised United Rentals from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, Truist Financial restated a “buy” rating and set a $956.00 price objective (down previously from $963.00) on shares of United Rentals in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, United Rentals currently has a consensus rating of “Moderate Buy” and an average target price of $829.00.

Insider Activity

In other news, CFO William E. Grace sold 1,100 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $638.10, for a total value of $701,910.00. Following the completion of the sale, the chief financial officer now owns 6,880 shares in the company, valued at $4,390,128. This represents a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.49% of the stock is owned by company insiders.

United Rentals Stock Performance

URI opened at $642.49 on Friday. The business has a 50 day moving average price of $721.43 and a two-hundred day moving average price of $767.74. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92. The company has a market capitalization of $41.96 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 1.43 and a beta of 1.68. United Rentals, Inc. has a 1-year low of $596.48 and a 1-year high of $896.98.

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

United Rentals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a $1.79 dividend. This is an increase from United Rentals’s previous quarterly dividend of $1.63. This represents a $7.16 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Wednesday, February 12th. United Rentals’s dividend payout ratio (DPR) is 18.48%.

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.