New York State Common Retirement Fund Decreases Holdings in United Rentals, Inc. (NYSE:URI)

New York State Common Retirement Fund lowered its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 5.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,088 shares of the construction company's stock after selling 2,500 shares during the quarter. New York State Common Retirement Fund owned 0.07% of United Rentals worth $30,353,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. ORG Wealth Partners LLC purchased a new position in United Rentals in the fourth quarter worth about $26,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of United Rentals in the 3rd quarter valued at approximately $31,000. Hanson & Doremus Investment Management purchased a new position in shares of United Rentals in the 4th quarter worth approximately $33,000. Kestra Investment Management LLC purchased a new position in shares of United Rentals in the 4th quarter worth approximately $34,000. Finally, Carmichael Hill & Associates Inc. increased its position in shares of United Rentals by 80.0% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company's stock valued at $36,000 after purchasing an additional 20 shares during the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Stock Down 5.5 %

Shares of URI stock traded down $38.35 during mid-day trading on Friday, hitting $656.42. The stock had a trading volume of 1,067,453 shares, compared to its average volume of 668,090. The firm has a market capitalization of $42.87 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 1.46 and a beta of 1.68. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92. United Rentals, Inc. has a 12-month low of $596.48 and a 12-month high of $896.98. The firm's 50-day moving average is $733.77 and its two-hundred day moving average is $769.42.

United Rentals (NYSE:URI - Get Free Report) last released 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 return on equity of 34.21% and a net margin of 16.78%. On average, analysts predict that United Rentals, Inc. will post 44.93 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 1.09%. This is a positive change from United Rentals's previous quarterly dividend of $1.63. The ex-dividend date is Wednesday, February 12th. United Rentals's dividend payout ratio (DPR) is presently 18.48%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on URI shares. Argus raised their price target on United Rentals from $840.00 to $880.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th. Citigroup lowered their target price on shares of United Rentals from $985.00 to $835.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Morgan Stanley cut their price target on shares of United Rentals from $775.00 to $765.00 and set an "equal weight" rating on the stock in a report on Monday, February 3rd. Bank of America raised their price objective on shares of United Rentals from $800.00 to $910.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Finally, Truist Financial reaffirmed a "buy" rating and set a $956.00 target price (down previously from $963.00) on shares of United Rentals in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, United Rentals currently has an average rating of "Moderate Buy" and an average price target of $829.00.

About United Rentals

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.