Retirement Systems of Alabama Has $41.71 Million Position in United Rentals, Inc. (NYSE:URI)

Retirement Systems of Alabama grew its stake in United Rentals, Inc. (NYSE:URI) by 250.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,512 shares of the construction company’s stock after purchasing an additional 36,823 shares during the quarter. Retirement Systems of Alabama owned approximately 0.08% of United Rentals worth $41,711,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of URI. RFP Financial Group LLC raised its holdings in United Rentals by 115.8% in the 2nd quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock valued at $27,000 after acquiring an additional 22 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of United Rentals in the third quarter valued at approximately $31,000. Carmichael Hill & Associates Inc. lifted its holdings in United Rentals by 80.0% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company’s stock worth $36,000 after purchasing an additional 20 shares during the last quarter. HHM Wealth Advisors LLC boosted its stake in United Rentals by 280.0% in the 2nd quarter. HHM Wealth Advisors LLC now owns 57 shares of the construction company’s stock valued at $37,000 after purchasing an additional 42 shares during the period. Finally, HM Payson & Co. acquired a new position in United Rentals in the 3rd quarter valued at $41,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Stock Down 1.0 %

URI stock opened at $778.73 on Friday. The firm has a 50-day moving average price of $834.29 and a 200-day moving average price of $747.66. United Rentals, Inc. has a 12 month low of $533.70 and a 12 month high of $896.98. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $51.10 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 1.87 and a beta of 1.66.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing the consensus estimate of $12.49 by ($0.69). The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.01 billion. United Rentals had a net margin of 17.12% and a return on equity of 34.73%. United Rentals’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $11.73 EPS. As a group, equities research analysts anticipate that United Rentals, Inc. will post 43.46 EPS for the current fiscal year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $6.52 dividend on an annualized basis and a yield of 0.84%. United Rentals’s dividend payout ratio is currently 17.03%.

Insiders Place Their Bets

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on URI. Citigroup lifted their target price on United Rentals from $955.00 to $985.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Robert W. Baird lifted their price objective on shares of United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research note on Thursday, October 3rd. Barclays increased their target price on shares of United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Evercore ISI lifted their price target on shares of United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Finally, Bank of America increased their price target on United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $770.00.

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.