Public Employees Retirement System of Ohio Makes New Investment in United Rentals, Inc. $URI

Public Employees Retirement System of Ohio purchased a new stake in United Rentals, Inc. (NYSE:URI) in the 2nd quarter, HoldingsChannel reports. The fund purchased 19,816 shares of the construction company’s stock, valued at approximately $22,449,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of United Rentals during the second quarter worth approximately $5,816,326,000. Norges Bank bought a new position in shares of United Rentals in the fourth quarter valued at approximately $978,017,000. Bank of America Corp DE bought a new position in United Rentals in the 2nd quarter valued at $944,196,000. The Manufacturers Life Insurance Company purchased a new stake in shares of United Rentals during the 2nd quarter valued at $716,129,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of United Rentals during the 2nd quarter worth $412,860,000. Institutional investors own 96.26% of the company’s stock.

United Rentals Trading Down 0.7%

Shares of United Rentals stock opened at $1,030.64 on Friday. The company’s 50-day moving average price is $1,097.31 and its 200-day moving average price is $957.16. The company has a market cap of $64.15 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 1.33 and a beta of 1.80. United Rentals, Inc. has a 12-month low of $701.59 and a 12-month high of $1,179.18. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI) last posted its earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, topping analysts’ consensus estimates of $11.53 by $1.23. The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. United Rentals’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $10.47 EPS. On average, equities analysts expect that United Rentals, Inc. will post 48.55 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were given a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a yield of 0.8%. The ex-dividend date was Wednesday, August 12th. United Rentals’s dividend payout ratio (DPR) is presently 18.92%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Raymond James Financial restated an “outperform” rating and set a $1,275.00 price target on shares of United Rentals in a research report on Wednesday, June 10th. Evercore reissued an “outperform” rating and set a $1,101.00 target price on shares of United Rentals in a research report on Monday, May 11th. Truist Financial lifted their price target on shares of United Rentals from $1,421.00 to $1,466.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Barclays increased their price objective on United Rentals from $715.00 to $950.00 and gave the company an “underweight” rating in a report on Friday, July 24th. Finally, UBS Group upped their price objective on shares of United Rentals from $1,300.00 to $1,350.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,246.19.

Insider Buying and Selling

In other United Rentals news, EVP William E. Grace sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the completion of the sale, the executive vice president owned 6,062 shares in the company, valued at approximately $6,869,155.30. The trade was a 19.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.47% of the stock is owned by company insiders.

United Rentals Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.