Alaska Permanent Fund Corp Sells 1,000 Shares of United Rentals, Inc. (NYSE:URI)

Alaska Permanent Fund Corp cut its position in shares of United Rentals, Inc. (NYSE:URI) by 16.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 5,000 shares of the construction company’s stock after selling 1,000 shares during the period. Alaska Permanent Fund Corp’s holdings in United Rentals were worth $2,867,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC boosted its holdings in United Rentals by 58,829.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,043,051 shares of the construction company’s stock valued at $598,106,000 after acquiring an additional 1,041,281 shares during the period. Deutsche Bank AG boosted its holdings in United Rentals by 88.1% during the 3rd quarter. Deutsche Bank AG now owns 362,151 shares of the construction company’s stock valued at $161,001,000 after acquiring an additional 169,586 shares during the period. Invesco Ltd. boosted its holdings in United Rentals by 19.1% during the 3rd quarter. Invesco Ltd. now owns 933,428 shares of the construction company’s stock valued at $414,974,000 after acquiring an additional 149,838 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in United Rentals during the 3rd quarter valued at about $40,634,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in United Rentals by 12.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 638,958 shares of the construction company’s stock worth $284,061,000 after buying an additional 72,066 shares during the period. 96.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on URI shares. Wells Fargo & Company increased their price objective on United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Robert W. Baird increased their price objective on United Rentals from $322.00 to $559.00 and gave the stock an “underperform” rating in a report on Friday, January 26th. Morgan Stanley started coverage on United Rentals in a report on Monday, January 8th. They issued an “equal weight” rating and a $500.00 price objective for the company. Truist Financial started coverage on United Rentals in a report on Thursday, March 14th. They issued a “buy” rating and a $793.00 price objective for the company. Finally, The Goldman Sachs Group increased their price objective on United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $589.21.

Insider Activity at United Rentals

In other United Rentals news, CFO William E. Grace sold 775 shares of United Rentals stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $655.62, for a total value of $508,105.50. Following the completion of the sale, the chief financial officer now owns 6,323 shares of the company’s stock, valued at approximately $4,145,485.26. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.49% of the stock is owned by corporate insiders.

United Rentals Stock Down 0.9 %

URI stock traded down $6.13 on Wednesday, reaching $655.19. 630,128 shares of the company traded hands, compared to its average volume of 582,337. United Rentals, Inc. has a one year low of $325.15 and a one year high of $732.37. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.81 and a quick ratio of 0.75. The company has a market cap of $44.01 billion, a P/E ratio of 18.53, a price-to-earnings-growth ratio of 2.18 and a beta of 1.84. The firm has a fifty day simple moving average of $679.75 and a 200-day simple moving average of $575.51.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, beating analysts’ consensus estimates of $8.39 by $0.76. United Rentals had a return on equity of 36.80% and a net margin of 16.91%. The company had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.44 billion. During the same quarter last year, the company earned $7.95 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts anticipate that United Rentals, Inc. will post 43.13 earnings per share for the current year.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.00%. United Rentals’s dividend payout ratio (DPR) is presently 18.44%.

United Rentals announced that its board has approved a share buyback program on Wednesday, January 24th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to buy up to 3.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

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.