State of Michigan Retirement System Has $13.16 Million Position in United Rentals, Inc. (NYSE:URI)

State of Michigan Retirement System lessened its holdings in shares of United Rentals, Inc. (NYSE:URI) by 3.3% in the second quarter, Holdings Channel.com reports. The fund owned 20,354 shares of the construction company’s stock after selling 700 shares during the quarter. State of Michigan Retirement System’s holdings in United Rentals were worth $13,164,000 at the end of the most recent quarter.

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

Insider Activity

In other United Rentals 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 sale, the senior vice president now owns 4,090 shares in the company, valued at $2,822,100. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.53% of the stock is currently owned by corporate insiders.

United Rentals Trading Down 0.2 %

Shares of United Rentals stock opened at $743.38 on Tuesday. The firm’s 50-day moving average price is $689.68 and its two-hundred day moving average price is $678.84. The company has a market capitalization of $49.50 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 1.66 and a beta of 1.71. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.39. United Rentals, Inc. has a 12-month low of $387.01 and a 12-month high of $789.80.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, July 24th. The construction company reported $10.70 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period last year, the firm posted $9.88 earnings per share. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, analysts forecast that United Rentals, Inc. will post 44.4 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.88%. United Rentals’s dividend payout ratio (DPR) is currently 17.66%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on URI shares. 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 target price on the stock. Truist Financial increased their price objective 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. Citigroup assumed coverage on shares of United Rentals in a research report on Wednesday, June 26th. They issued a “buy” rating and a $745.00 price objective on the stock. Evercore ISI lifted their price target on United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Finally, Oppenheimer reissued a “market perform” rating on shares of United Rentals in a research report on Monday, April 29th. Three investment 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, United Rentals has a consensus rating of “Hold” and an average target price 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.