Retirement Systems of Alabama Sells 536 Shares of United Rentals, Inc. (NYSE:URI)

Retirement Systems of Alabama decreased its position in United Rentals, Inc. (NYSE:URI) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,976 shares of the construction company’s stock after selling 536 shares during the quarter. Retirement Systems of Alabama owned approximately 0.08% of United Rentals worth $35,910,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC grew its position in shares of United Rentals by 82,462.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock worth $1,300,962,000 after buying an additional 1,604,715 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in United Rentals by 15.4% in the third quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock valued at $637,968,000 after acquiring an additional 105,287 shares in the last quarter. FMR LLC increased its position in United Rentals by 3.7% during the 3rd quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock valued at $1,956,768,000 after purchasing an additional 85,325 shares during the period. The Manufacturers Life Insurance Company raised its holdings in United Rentals by 10.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 704,145 shares of the construction company’s stock worth $570,167,000 after purchasing an additional 66,957 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of United Rentals by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock worth $862,110,000 after purchasing an additional 57,002 shares during the period. 96.26% of the stock is owned by institutional investors.

United Rentals Trading Down 2.2 %

NYSE:URI opened at $737.27 on Thursday. The stock has a market cap of $48.15 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 1.52 and a beta of 1.68. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. The company’s 50 day moving average price is $757.46 and its 200-day moving average price is $769.69. United Rentals, Inc. has a 52 week low of $596.48 and a 52 week high of $896.98.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, January 29th. The construction company reported $11.59 earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities research analysts forecast that United Rentals, Inc. will post 46.09 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be paid a dividend of $1.79 per share. This is an increase from United Rentals’s previous quarterly dividend of $1.63. This represents a $7.16 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Wednesday, February 12th. United Rentals’s payout ratio is currently 16.83%.

Analysts Set New Price Targets

URI has been the topic of several research analyst reports. Baird R W upgraded shares of United Rentals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 14th. Robert W. Baird raised 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. Citigroup dropped their price target on United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Bank of America increased their price objective on United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. boosted their target price on shares of United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $814.08.

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.