Texas Permanent School Fund Corp Sells 2,928 Shares of United Rentals, Inc. (NYSE:URI)

Texas Permanent School Fund Corp reduced its position in shares of United Rentals, Inc. (NYSE:URI) by 21.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,962 shares of the construction company’s stock after selling 2,928 shares during the period. Texas Permanent School Fund Corp’s holdings in United Rentals were worth $7,089,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Capital Research Global Investors boosted its holdings in shares of United Rentals by 39.1% during the 4th quarter. Capital Research Global Investors now owns 6,399,808 shares of the construction company’s stock worth $3,669,806,000 after buying an additional 1,799,997 shares during the period. Norges Bank bought a new stake in United Rentals in the 4th quarter valued at $977,443,000. The Manufacturers Life Insurance Company boosted its holdings in United Rentals by 1.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 650,387 shares of the construction company’s stock valued at $372,945,000 after purchasing an additional 11,429 shares during the period. Capital International Investors bought a new stake in United Rentals in the 1st quarter valued at $332,349,000. Finally, AMF Tjanstepension AB boosted its holdings in United Rentals by 77.7% in the 2nd quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock valued at $295,626,000 after purchasing an additional 199,810 shares during the period. 96.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. 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 for the company. Truist Financial increased their price target on shares of United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a report on Friday, July 26th. The Goldman Sachs Group increased 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. JPMorgan Chase & Co. began coverage on shares of United Rentals in a report on Friday, June 7th. They issued an “overweight” rating and a $780.00 price target for the company. Finally, Citigroup began coverage on shares of United Rentals in a research note on Wednesday, June 26th. They issued a “buy” rating and a $745.00 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 assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $675.15.

United Rentals Trading Up 1.2 %

Shares of United Rentals stock opened at $704.07 on Wednesday. The stock has a market capitalization of $46.57 billion, a P/E ratio of 19.07, a price-to-earnings-growth ratio of 1.57 and a beta of 1.68. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.39. The company has a 50-day simple moving average of $705.98 and a 200 day simple moving average of $683.66. United Rentals, Inc. has a 12-month low of $387.01 and a 12-month high of $789.80.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, July 24th. The construction company reported $10.70 earnings per share for the quarter, beating the consensus estimate of $10.48 by $0.22. The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.77 billion. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the company posted $9.88 EPS. Research analysts expect that United Rentals, Inc. will post 44.5 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.93%. The ex-dividend date was Wednesday, August 14th. United Rentals’s payout ratio is presently 17.66%.

Insider Buying and Selling at United Rentals

In other United Rentals news, SVP Joli L. Gross sold 360 shares of the firm’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 in the company, valued at approximately $2,822,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.53% of the company’s stock.

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.