United Rentals, Inc. (NYSE:URI) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System lowered its position in shares of United Rentals, Inc. (NYSE:URI) by 0.9% in the first quarter, Holdings Channel.com reports. The fund owned 21,054 shares of the construction company’s stock after selling 200 shares during the quarter. State of Michigan Retirement System’s holdings in United Rentals were worth $15,182,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in United Rentals in the 1st quarter valued at $91,000. BKM Wealth Management LLC increased its holdings in United Rentals by 963.4% in the first quarter. BKM Wealth Management LLC now owns 436 shares of the construction company’s stock valued at $314,000 after buying an additional 395 shares during the last quarter. Diversified Trust Co lifted its stake in United Rentals by 7.9% during the first quarter. Diversified Trust Co now owns 1,449 shares of the construction company’s stock worth $1,045,000 after purchasing an additional 106 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new stake in United Rentals in the first quarter valued at $216,000. Finally, First Bank & Trust increased its position in shares of United Rentals by 7.9% during the first quarter. First Bank & Trust now owns 739 shares of the construction company’s stock worth $533,000 after purchasing an additional 54 shares in the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

URI has been the topic of a number of research reports. The Goldman Sachs Group raised their price target on United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Citigroup began coverage on shares of United Rentals in a report on Wednesday, June 26th. They issued a “buy” rating and a $745.00 target price for the company. Raymond James initiated coverage on United Rentals in a research note on Friday, June 28th. They issued an “outperform” rating and a $750.00 target price on the stock. Stifel Nicolaus lifted their price objective on shares of United Rentals from $720.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, JPMorgan Chase & Co. assumed coverage on shares of United Rentals in a research report on Friday, June 7th. They set an “overweight” rating and a $780.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $637.67.

United Rentals Price Performance

Shares of United Rentals stock opened at $645.88 on Wednesday. The stock has a market capitalization of $43.01 billion, a P/E ratio of 17.49, a PEG ratio of 2.12 and a beta of 1.71. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 1.39. The business’s fifty day moving average price is $660.29 and its 200 day moving average price is $646.84. United Rentals, Inc. has a twelve month low of $387.01 and a twelve month high of $732.37.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.35 by $0.80. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The company had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.44 billion. During the same period in the previous year, the firm earned $7.95 earnings per share. United Rentals’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, research analysts anticipate that United Rentals, Inc. will post 43.71 earnings per share for the current year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.01%. United Rentals’s dividend payout ratio is currently 17.66%.

Insider Buying and Selling

In other United Rentals news, COO Michael D. Durand sold 559 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $674.56, for a total transaction of $377,079.04. Following the completion of the sale, the chief operating officer now owns 8,052 shares in the company, valued at approximately $5,431,557.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other United Rentals news, COO Michael D. Durand sold 559 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $674.56, for a total transaction of $377,079.04. Following the completion of the sale, the chief operating officer now owns 8,052 shares in the company, valued at $5,431,557.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew John Flannery sold 8,379 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total transaction of $5,862,199.77. Following the sale, the chief executive officer now owns 103,400 shares in the company, valued at approximately $72,341,742. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by insiders.

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.