Swedbank AB Reduces Stock Position in United Rentals, Inc. $URI

Swedbank AB trimmed its stake in shares of United Rentals, Inc. (NYSE:URI) by 9.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,380 shares of the construction company’s stock after selling 5,294 shares during the period. Swedbank AB owned approximately 0.08% of United Rentals worth $35,976,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Capital World Investors grew its position in United Rentals by 1.1% in the 4th quarter. Capital World Investors now owns 2,708,877 shares of the construction company’s stock worth $2,192,357,000 after purchasing an additional 30,263 shares during the period. Franklin Resources Inc. raised its stake in United Rentals by 2.2% during the 4th quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company’s stock valued at $1,087,711,000 after buying an additional 28,895 shares during the last quarter. Norges Bank bought a new position in shares of United Rentals during the 4th quarter valued at $978,017,000. Alliancebernstein L.P. lifted its holdings in shares of United Rentals by 5.6% during the 3rd quarter. Alliancebernstein L.P. now owns 1,088,209 shares of the construction company’s stock valued at $1,038,870,000 after buying an additional 57,977 shares during the period. Finally, Boston Partners boosted its stake in shares of United Rentals by 4.0% in the 4th quarter. Boston Partners now owns 774,347 shares of the construction company’s stock worth $631,459,000 after buying an additional 29,675 shares during the last quarter. Institutional investors own 96.26% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Matthew John Flannery sold 22,768 shares of United Rentals stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $984.98, for a total transaction of $22,426,024.64. Following the sale, the chief executive officer owned 99,980 shares of the company’s stock, valued at approximately $98,478,300.40. This trade represents a 18.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Andrew B. Limoges sold 548 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $977.86, for a total value of $535,867.28. Following the completion of the transaction, the vice president directly owned 1,865 shares in the company, valued at approximately $1,823,708.90. This represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 26,088 shares of company stock worth $25,628,877 over the last quarter. Company insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on URI shares. Sanford C. Bernstein set a $903.00 price objective on United Rentals and gave the stock an “outperform” rating in a report on Thursday, April 9th. BNP Paribas Exane raised United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 target price on the stock in a report on Monday, June 29th. UBS Group raised their target price on United Rentals from $1,145.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Truist Financial boosted their price target on United Rentals from $1,209.00 to $1,421.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Finally, Evercore reaffirmed an “outperform” rating and set a $1,101.00 price target on shares of United Rentals in a research report on Monday, May 11th. Fifteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,124.69.

United Rentals Trading Up 1.6%

United Rentals stock opened at $1,072.78 on Thursday. United Rentals, Inc. has a 12-month low of $701.59 and a 12-month high of $1,143.69. The firm has a market capitalization of $67.21 billion, a price-to-earnings ratio of 27.37, a P/E/G ratio of 1.69 and a beta of 1.79. The firm has a 50 day moving average of $1,024.36 and a 200 day moving average of $898.69. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The firm had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $4.20 billion. During the same period last year, the company earned $8.86 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, research analysts predict that United Rentals, Inc. will post 46.76 earnings per share for the current year.

United Rentals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were given a dividend of $1.97 per share. The ex-dividend date was Wednesday, May 13th. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. United Rentals’s dividend payout ratio (DPR) is currently 20.10%.

United Rentals Company Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.