Nordea Investment Management AB Buys 44,854 Shares of United Rentals, Inc. $URI

Nordea Investment Management AB raised its stake in shares of United Rentals, Inc. (NYSE:URI) by 6.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 749,276 shares of the construction company’s stock after acquiring an additional 44,854 shares during the period. Nordea Investment Management AB’s holdings in United Rentals were worth $565,374,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Werba Rubin Papier Wealth Management bought a new position in United Rentals during the 2nd quarter valued at $207,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of United Rentals during the 2nd quarter worth $211,000. Bridges Investment Management Inc. raised its stake in shares of United Rentals by 14.4% during the 2nd quarter. Bridges Investment Management Inc. now owns 67,713 shares of the construction company’s stock worth $51,015,000 after purchasing an additional 8,505 shares during the period. Callahan Advisors LLC raised its stake in shares of United Rentals by 2.3% during the 2nd quarter. Callahan Advisors LLC now owns 11,584 shares of the construction company’s stock worth $8,727,000 after purchasing an additional 264 shares during the period. Finally, Duncker Streett & Co. Inc. raised its stake in shares of United Rentals by 2.3% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 3,944 shares of the construction company’s stock worth $2,971,000 after purchasing an additional 89 shares during the period. 96.26% of the stock is currently owned by institutional investors.

United Rentals Trading Down 1.4%

Shares of URI opened at $1,005.61 on Friday. The business has a 50-day moving average of $948.48 and a 200 day moving average of $794.67. United Rentals, Inc. has a fifty-two week low of $525.91 and a fifty-two week high of $1,021.47. The firm has a market cap of $64.70 billion, a P/E ratio of 26.00, a price-to-earnings-growth ratio of 2.35 and a beta of 1.73. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.80 and a current ratio of 0.86.

United Rentals (NYSE:URI) last announced its quarterly earnings data 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 firm had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $3.90 billion. During the same period last year, the business posted $10.70 EPS. The company’s 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, research analysts forecast that United Rentals, Inc. will post 44.8 EPS 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 issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, August 13th. United Rentals’s payout ratio is presently 18.52%.

Analyst Upgrades and Downgrades

URI has been the topic of a number of recent analyst reports. Sanford C. Bernstein set a $1,128.00 target price on United Rentals and gave the stock an “outperform” rating in a research note on Tuesday, September 23rd. KeyCorp lifted their target price on United Rentals from $1,075.00 to $1,120.00 and gave the stock an “overweight” rating in a research note on Thursday, September 25th. Baird R W upgraded United Rentals from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Argus set a $935.00 target price on United Rentals in a research note on Tuesday, August 12th. Finally, Citigroup lifted their target price on United Rentals from $1,000.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company 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.