Maryland State Retirement & Pension System Increases Stock Position in United Rentals, Inc. $URI

Maryland State Retirement & Pension System boosted its stake in United Rentals, Inc. (NYSE:URI) by 2.9% in the second quarter, Holdings Channel.com reports. The fund owned 3,151 shares of the construction company’s stock after buying an additional 90 shares during the quarter. Maryland State Retirement & Pension System’s holdings in United Rentals were worth $2,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in United Rentals by 0.4% in the first quarter. Vanguard Group Inc. now owns 7,422,036 shares of the construction company’s stock valued at $4,651,390,000 after acquiring an additional 29,501 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of United Rentals by 98.1% in the first quarter. JPMorgan Chase & Co. now owns 1,093,805 shares of the construction company’s stock valued at $685,488,000 after buying an additional 541,579 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of United Rentals by 28.8% in the first quarter. The Manufacturers Life Insurance Company now owns 849,786 shares of the construction company’s stock valued at $532,561,000 after buying an additional 190,007 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of United Rentals by 22.3% in the first quarter. Goldman Sachs Group Inc. now owns 661,251 shares of the construction company’s stock valued at $414,406,000 after buying an additional 120,449 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of United Rentals by 0.8% in the first quarter. Northern Trust Corp now owns 661,166 shares of the construction company’s stock valued at $414,353,000 after buying an additional 5,113 shares during the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Trading Down 2.9%

Shares of United Rentals stock opened at $951.67 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.86 and a debt-to-equity ratio of 1.34. The company’s 50-day simple moving average is $937.56 and its 200-day simple moving average is $784.61. United Rentals, Inc. has a 52-week low of $525.91 and a 52-week high of $1,004.92. The firm has a market cap of $61.23 billion, a price-to-earnings ratio of 24.61, a price-to-earnings-growth ratio of 2.27 and a beta of 1.73.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, July 23rd. The construction company reported $10.47 earnings per share for the quarter, missing the consensus estimate of $10.54 by ($0.07). United Rentals had a return on equity of 32.01% and a net margin of 16.11%.The company had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same quarter in the previous year, the company posted $10.70 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. United Rentals has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th were given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 0.8%. The ex-dividend date was Wednesday, August 13th. United Rentals’s dividend payout ratio is presently 18.52%.

Wall Street Analysts Forecast Growth

URI has been the subject of a number of research reports. Citigroup upped their target price on shares of United Rentals from $1,000.00 to $1,080.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Truist Financial upped their target price on shares of United Rentals from $952.00 to $1,194.00 and gave the company a “buy” rating in a report on Wednesday. KeyCorp upped their target price on shares of United Rentals from $1,075.00 to $1,120.00 and gave the company an “overweight” rating in a report on Thursday, September 25th. BNP Paribas Exane upgraded shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $900.00 price target on the stock in a research note on Tuesday, September 16th. Finally, Baird R W upgraded shares of United Rentals from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $956.13.

About United Rentals

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.