Swedbank AB decreased its position in United Rentals, Inc. (NYSE:URI – Free Report) by 9.7% during the first quarter, HoldingsChannel.com reports. The fund owned 49,380 shares of the construction company’s stock after selling 5,294 shares during the quarter. Swedbank AB’s holdings in United Rentals were worth $35,976,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of United Rentals in the 4th quarter worth about $978,017,000. Corient Private Wealth LLC increased its stake in United Rentals by 1,667.4% during the fourth quarter. Corient Private Wealth LLC now owns 343,965 shares of the construction company’s stock worth $278,378,000 after acquiring an additional 324,503 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in United Rentals by 3,459.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 196,688 shares of the construction company’s stock valued at $159,184,000 after purchasing an additional 191,162 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of United Rentals in the 4th quarter valued at approximately $102,945,000. Finally, Victory Capital Management Inc. lifted its stake in shares of United Rentals by 103.7% in the 4th quarter. Victory Capital Management Inc. now owns 231,018 shares of the construction company’s stock valued at $186,967,000 after purchasing an additional 117,584 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors.
United Rentals Stock Performance
Shares of NYSE:URI opened at $1,072.78 on Thursday. The firm’s 50 day simple moving average is $1,024.36 and its 200-day simple moving average is $898.69. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80. United Rentals, Inc. has a one year low of $701.59 and a one year high of $1,143.69. The firm has a market cap of $67.21 billion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 1.69 and a beta of 1.79.
United Rentals Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were given a dividend of $1.97 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. United Rentals’s payout ratio is 20.10%.
Insider Transactions at United Rentals
In other United Rentals news, EVP Craig Adam Pintoff sold 2,466 shares of the company’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $963.00, for a total value of $2,374,758.00. Following the completion of the sale, the executive vice president directly owned 14,774 shares in the company, valued at approximately $14,227,362. This represents a 14.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew John Flannery sold 22,768 shares of the stock in a transaction on Friday, April 24th. The stock was sold at an average price of $984.98, for a total value of $22,426,024.64. Following the transaction, the chief executive officer directly owned 99,980 shares in the company, valued at $98,478,300.40. The trade was a 18.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 26,088 shares of company stock valued at $25,628,877 over the last 90 days. 0.47% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the company. 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 research report on Monday, June 29th. Sanford C. Bernstein set a $903.00 price objective on shares of United Rentals and gave the stock an “outperform” rating in a research note on Thursday, April 9th. Bank of America boosted their price objective on shares of United Rentals from $1,020.00 to $1,195.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Barclays increased their target price on shares of United Rentals from $600.00 to $715.00 and gave the company an “underweight” rating in a research note on Friday, April 24th. Finally, Citigroup raised their target price on shares of United Rentals from $1,130.00 to $1,210.00 and gave the stock a “buy” rating in a report on Wednesday. Fifteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, United Rentals currently has a consensus rating of “Moderate Buy” and an average price target of $1,124.69.
Check Out Our Latest Stock Report on URI
About United Rentals
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.
Featured Articles
- Five stocks we like better than United Rentals
- A Market Panic Just Discounted the AI Highway’s Tollbooth
- Why Exxon Could Be the Market’s Next Big Comeback Stock
- The Market Just Got Shaken—These 3 ETFs May Come Out Stronger
- Meta Platforms’ Cloud Push: Growth Opportunity Versus AI Concerns
Want to see what other hedge funds are holding URI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Rentals, Inc. (NYSE:URI – Free Report).
Receive News & Ratings for United Rentals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Rentals and related companies with MarketBeat.com's FREE daily email newsletter.
