United Rentals, Inc. $URI Shares Acquired by Swedbank AB

Swedbank AB lifted its stake in shares of United Rentals, Inc. (NYSE:URIFree Report) by 2.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 54,674 shares of the construction company’s stock after buying an additional 1,509 shares during the quarter. Swedbank AB’s holdings in United Rentals were worth $44,249,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Capital International Investors grew its position in shares of United Rentals by 22.8% during the third quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock worth $3,247,762,000 after buying an additional 631,484 shares in the last quarter. Capital World Investors grew its position in shares of United Rentals by 6.7% during the third quarter. Capital World Investors now owns 2,678,614 shares of the construction company’s stock worth $2,557,158,000 after buying an additional 168,685 shares in the last quarter. Franklin Resources Inc. grew its position in shares of United Rentals by 6.8% during the third quarter. Franklin Resources Inc. now owns 1,315,086 shares of the construction company’s stock worth $1,255,460,000 after buying an additional 83,978 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of United Rentals by 5.6% during the third quarter. Alliancebernstein L.P. now owns 1,088,209 shares of the construction company’s stock worth $1,038,870,000 after buying an additional 57,977 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of United Rentals by 2.9% during the third quarter. Dimensional Fund Advisors LP now owns 948,386 shares of the construction company’s stock worth $905,313,000 after buying an additional 26,847 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Stock Performance

United Rentals stock opened at $939.20 on Monday. The company has a market cap of $58.84 billion, a PE ratio of 23.96, a P/E/G ratio of 1.49 and a beta of 1.83. The company has a fifty day moving average price of $830.99 and a two-hundred day moving average price of $841.15. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.74. United Rentals, Inc. has a 12 month low of $681.98 and a 12 month high of $1,021.47.

United Rentals (NYSE:URIGet Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.20 billion. United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.86 EPS. Research analysts expect that United Rentals, Inc. will post 47.07 earnings per share for the current year.

United Rentals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th will be issued a $1.97 dividend. This represents a $7.88 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, May 13th. United Rentals’s payout ratio is currently 20.10%.

United Rentals announced that its board has initiated a share repurchase plan on Wednesday, January 28th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on URI. Morgan Stanley reissued an “overweight” rating and set a $1,030.00 price target on shares of United Rentals in a research report on Friday, April 24th. Sanford C. Bernstein set a $903.00 price target on shares of United Rentals and gave the stock an “outperform” rating in a research report on Thursday, April 9th. Royal Bank Of Canada raised their price target on shares of United Rentals from $1,041.00 to $1,119.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Barclays raised their price target on shares of United Rentals from $600.00 to $715.00 and gave the stock an “underweight” rating in a research report on Friday, April 24th. Finally, Citigroup raised their price target on shares of United Rentals from $950.00 to $1,130.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Thirteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, United Rentals currently has an average rating of “Moderate Buy” and an average target price of $996.94.

Check Out Our Latest Stock Analysis on United Rentals

Insider Buying and Selling at United Rentals

In other United Rentals news, VP Andrew B. Limoges sold 548 shares of United Rentals stock in a transaction on Friday, April 24th. The shares were 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 owned 1,865 shares of the company’s stock, valued at $1,823,708.90. The trade was a 22.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Joli L. Gross sold 306 shares of United Rentals stock in a transaction on Monday, April 27th. The stock was sold at an average price of $954.99, for a total transaction of $292,226.94. Following the completion of the transaction, the senior vice president directly owned 5,738 shares of the company’s stock, valued at approximately $5,479,732.62. This represents a 5.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 26,088 shares of company stock worth $25,628,877. Company insiders own 0.47% of the company’s stock.

About United Rentals

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for United Rentals (NYSE:URI)

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