Retirement Systems of Alabama Raises Position in United Rentals, Inc. (NYSE:URI)

Retirement Systems of Alabama raised its position in United Rentals, Inc. (NYSE:URI - Free Report) by 250.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,512 shares of the construction company's stock after buying an additional 36,823 shares during the period. Retirement Systems of Alabama owned 0.08% of United Rentals worth $41,711,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of United Rentals during the third quarter valued at approximately $31,000. RFP Financial Group LLC increased its position in shares of United Rentals by 115.8% during the 2nd quarter. RFP Financial Group LLC now owns 41 shares of the construction company's stock valued at $27,000 after purchasing an additional 22 shares during the last quarter. 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. HM Payson & Co. bought a new stake in shares of United Rentals during the 3rd quarter worth $41,000. Finally, HHM Wealth Advisors LLC boosted its holdings in shares of United Rentals by 280.0% in the 2nd quarter. HHM Wealth Advisors LLC now owns 57 shares of the construction company's stock worth $37,000 after buying an additional 42 shares during the last quarter. Institutional investors own 96.26% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on URI shares. JPMorgan Chase & Co. lifted their price objective on shares of United Rentals from $780.00 to $940.00 and gave the stock an "overweight" rating in a research report on Monday, September 23rd. Bank of America lifted their price target on shares of United Rentals from $800.00 to $910.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Robert W. Baird increased their price objective on United Rentals from $565.00 to $650.00 and gave the company an "underperform" rating in a report on Thursday, October 3rd. Evercore ISI boosted their target price on United Rentals from $774.00 to $795.00 and gave the company an "outperform" rating in a research note on Monday, August 19th. Finally, Argus increased their price target on United Rentals from $840.00 to $880.00 and gave the stock a "buy" rating in a research note on Wednesday, November 20th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $770.00.

Insiders Place Their Bets

In other news, SVP Anthony S. Leopold sold 900 shares of the company's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $823.24, for a total value of $740,916.00. Following the completion of the transaction, the senior vice president now directly owns 2,044 shares in the company, valued at approximately $1,682,702.56. This represents a 30.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.53% of the company's stock.

United Rentals Price Performance

Shares of United Rentals stock traded down $7.77 during trading on Friday, hitting $778.82. The stock had a trading volume of 384,315 shares, compared to its average volume of 544,036. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38. United Rentals, Inc. has a 12 month low of $533.70 and a 12 month high of $896.98. The firm has a market cap of $51.11 billion, a price-to-earnings ratio of 20.34, a P/E/G ratio of 1.87 and a beta of 1.66. The business's 50-day moving average is $834.29 and its 200 day moving average is $747.66.

United Rentals (NYSE:URI - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share for the quarter, missing analysts' consensus estimates of $12.49 by ($0.69). The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.01 billion. United Rentals had a return on equity of 34.73% and a net margin of 17.12%. United Rentals's revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $11.73 earnings per share. As a group, sell-side analysts anticipate that United Rentals, Inc. will post 43.46 earnings per share for the current year.

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a dividend of $1.63 per share. The ex-dividend date was Wednesday, November 13th. This represents a $6.52 annualized dividend and a yield of 0.84%. United Rentals's payout ratio is presently 17.03%.

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.