California Public Employees Retirement System Lowers Stock Holdings in United Rentals, Inc. (NYSE:URI)

California Public Employees Retirement System decreased its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 8.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,007 shares of the construction company's stock after selling 9,810 shares during the quarter. California Public Employees Retirement System owned approximately 0.17% of United Rentals worth $76,084,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Townsquare Capital LLC boosted its holdings in shares of United Rentals by 17.7% in the third quarter. Townsquare Capital LLC now owns 2,383 shares of the construction company's stock valued at $1,930,000 after purchasing an additional 359 shares during the period. Public Sector Pension Investment Board lifted its holdings in shares of United Rentals by 15.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 2,925 shares of the construction company's stock worth $2,368,000 after buying an additional 400 shares during the period. Icon Wealth Advisors LLC purchased a new position in shares of United Rentals during the third quarter valued at $103,000. Fred Alger Management LLC bought a new position in United Rentals during the 3rd quarter worth about $2,043,000. Finally, Erste Asset Management GmbH purchased a new position in United Rentals during the 3rd quarter valued at about $2,263,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at United Rentals

In other United Rentals news, CFO William E. Grace sold 1,100 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $638.10, for a total value of $701,910.00. Following the sale, the chief financial officer now directly owns 6,880 shares of the company's stock, valued at approximately $4,390,128. This represents a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.53% of the company's stock.

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United Rentals Stock Performance

Shares of NYSE URI traded down $54.90 during midday trading on Thursday, reaching $591.27. The company had a trading volume of 760,606 shares, compared to its average volume of 568,866. The stock has a market cap of $38.63 billion, a P/E ratio of 15.26, a P/E/G ratio of 1.43 and a beta of 1.76. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42. United Rentals, Inc. has a 1 year low of $585.27 and a 1 year high of $896.98. The business's 50-day simple moving average is $678.19 and its 200 day simple moving average is $753.23.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The construction company reported $11.59 earnings per share for the quarter, missing analysts' consensus estimates of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. On average, analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a $1.79 dividend. This is an increase from United Rentals's previous quarterly dividend of $1.63. This represents a $7.16 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend was Wednesday, February 12th. United Rentals's dividend payout ratio is 18.48%.

Analyst Ratings Changes

URI has been the topic of a number of recent research reports. Baird R W upgraded shares of United Rentals from a "strong sell" rating to a "hold" rating in a research note on Tuesday, January 14th. Morgan Stanley reduced their price target on United Rentals from $775.00 to $765.00 and set an "equal weight" rating for the company in a research report on Monday, February 3rd. Citigroup decreased their price objective on United Rentals from $985.00 to $835.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. JPMorgan Chase & Co. lifted their target price on United Rentals from $940.00 to $1,000.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Finally, Bank of America reduced their target price on shares of United Rentals from $850.00 to $750.00 and set a "buy" rating for the company in a report on Friday, March 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $804.15.

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.