VIRGINIA RETIREMENT SYSTEMS ET Al Raises Stake in United Rentals, Inc. $URI

VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in United Rentals, Inc. (NYSE:URI) by 68.1% in the third quarter, HoldingsChannel.com reports. The firm owned 50,100 shares of the construction company’s stock after acquiring an additional 20,300 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in United Rentals were worth $47,828,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in United Rentals in the 2nd quarter worth $776,102,000. JPMorgan Chase & Co. grew its position in shares of United Rentals by 71.3% during the second quarter. JPMorgan Chase & Co. now owns 1,874,127 shares of the construction company’s stock worth $1,411,968,000 after purchasing an additional 780,322 shares in the last quarter. Boston Partners raised its stake in United Rentals by 74.5% during the 2nd quarter. Boston Partners now owns 715,250 shares of the construction company’s stock valued at $542,526,000 after purchasing an additional 305,378 shares during the period. Vaughan Nelson Investment Management L.P. bought a new stake in United Rentals during the 2nd quarter valued at approximately $152,069,000. Finally, Lazard Asset Management LLC lifted its holdings in United Rentals by 34,208.2% in the 2nd quarter. Lazard Asset Management LLC now owns 189,038 shares of the construction company’s stock worth $142,421,000 after purchasing an additional 188,487 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors.

United Rentals Trading Down 0.3%

URI opened at $817.20 on Wednesday. The stock has a 50-day moving average of $831.38 and a 200 day moving average of $866.81. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 1.40. United Rentals, Inc. has a 12 month low of $525.91 and a 12 month high of $1,021.47. The firm has a market cap of $52.00 billion, a P/E ratio of 21.02, a P/E/G ratio of 1.87 and a beta of 1.68.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, October 22nd. The construction company reported $11.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.43 by ($0.73). The company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.16 billion. United Rentals had a net margin of 15.83% and a return on equity of 31.30%. United Rentals’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $11.80 earnings per share. As a group, research analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th were given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, November 12th. United Rentals’s payout ratio is 18.42%.

Analysts Set New Price Targets

Several research firms have recently issued reports on URI. Royal Bank Of Canada set a $1,123.00 price objective on shares of United Rentals in a research report on Friday, October 24th. Truist Financial reduced their price target on shares of United Rentals from $1,169.00 to $1,045.00 and set a “buy” rating on the stock in a report on Thursday, December 18th. Barclays decreased their price target on shares of United Rentals from $620.00 to $600.00 and set an “underweight” rating on the stock in a research note on Monday, October 20th. JPMorgan Chase & Co. raised their price objective on United Rentals from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Monday, September 22nd. Finally, Wells Fargo & Company assumed coverage on United Rentals in a research report on Thursday, November 13th. They issued an “overweight” rating and a $995.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, United Rentals has a consensus rating of “Moderate Buy” and an average price target of $954.83.

United Rentals Company 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.