State of Tennessee Department of Treasury Has $16.72 Million Stock Position in United Rentals, Inc. (NYSE:URI)

State of Tennessee Department of Treasury cut its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,733 shares of the construction company's stock after selling 1,050 shares during the quarter. State of Tennessee Department of Treasury's holdings in United Rentals were worth $16,718,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Rialto Wealth Management LLC acquired a new stake in United Rentals in the 4th quarter worth $25,000. ORG Wealth Partners LLC bought a new position in United Rentals during the fourth quarter valued at about $26,000. Murphy & Mullick Capital Management Corp acquired a new position in United Rentals in the 4th quarter valued at approximately $27,000. Meeder Asset Management Inc. lifted its position in shares of United Rentals by 241.7% in the 4th quarter. Meeder Asset Management Inc. now owns 41 shares of the construction company's stock worth $29,000 after acquiring an additional 29 shares during the period. Finally, Hanson & Doremus Investment Management acquired a new stake in shares of United Rentals during the 4th quarter worth approximately $33,000. 96.26% of the stock is owned by institutional investors.

Insider Activity at United Rentals

In other United Rentals news, CFO William E. Grace sold 1,100 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $638.10, for a total value of $701,910.00. Following the completion of the sale, the chief financial officer now directly owns 6,880 shares in the company, valued at $4,390,128. This represents a 13.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

United Rentals Stock Up 0.6 %

NYSE URI opened at $573.94 on Wednesday. The stock has a market capitalization of $37.50 billion, a P/E ratio of 14.81, a price-to-earnings-growth ratio of 1.43 and a beta of 1.72. United Rentals, Inc. has a 52 week low of $525.91 and a 52 week high of $896.98. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.92 and a current ratio of 0.98. The stock has a fifty day moving average of $622.56 and a 200-day moving average of $730.18.

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 the consensus estimate 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, equities research analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a $1.79 dividend. This is a positive change from United Rentals's previous quarterly dividend of $1.63. This represents a $7.16 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend was Wednesday, February 12th. United Rentals's dividend payout ratio (DPR) is currently 18.48%.

Analysts Set New Price Targets

Several research analysts recently commented on URI shares. Truist Financial reduced their target price on United Rentals from $956.00 to $732.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. lowered their target price on shares of United Rentals from $1,000.00 to $750.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Baird R W raised shares of United Rentals from a "strong sell" rating to a "hold" rating in a research report on Tuesday, January 14th. UBS Group downgraded United Rentals from a "buy" rating to a "sell" rating and decreased their price objective for the company from $910.00 to $485.00 in a report on Monday, April 7th. Finally, Robert W. Baird upgraded United Rentals from an "underperform" rating to a "neutral" rating and set a $658.00 target price for the company in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $729.79.

United Rentals 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.

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