Livforsakringsbolaget Skandia Omsesidigt bought a new position in United Rentals, Inc. (NYSE:URI – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 25,067 shares of the construction company’s stock, valued at approximately $28,391,000. United Rentals comprises about 0.9% of Livforsakringsbolaget Skandia Omsesidigt’s investment portfolio, making the stock its 23rd biggest holding.
A number of other hedge funds and other institutional investors have also recently modified their holdings of URI. BlackRock Inc. bought a new stake in United Rentals in the second quarter worth $5,816,326,000. Norges Bank bought a new position in United Rentals during the fourth quarter valued at $978,017,000. Bank of America Corp DE bought a new position in United Rentals during the second quarter valued at $944,196,000. The Manufacturers Life Insurance Company purchased a new position in shares of United Rentals in the 2nd quarter worth $716,129,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of United Rentals in the 2nd quarter worth $412,860,000. 96.26% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
URI has been the topic of several recent research reports. Barclays upped their target price on shares of United Rentals from $715.00 to $950.00 and gave the company an “underweight” rating in a research report on Friday, July 24th. Wall Street Zen raised United Rentals from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Argus restated a “buy” rating and set a $1,250.00 price objective on shares of United Rentals in a research report on Tuesday, August 4th. Truist Financial raised their price objective on United Rentals from $1,421.00 to $1,466.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Finally, Robert W. Baird set a $1,300.00 target price on United Rentals in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,246.19.
United Rentals Trading Down 0.7%
URI stock opened at $1,030.64 on Friday. The company has a market capitalization of $64.15 billion, a PE ratio of 24.75, a P/E/G ratio of 1.34 and a beta of 1.80. United Rentals, Inc. has a 12 month low of $701.59 and a 12 month high of $1,179.18. The firm’s 50-day moving average is $1,097.31 and its 200 day moving average is $957.16. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.70.
United Rentals (NYSE:URI – Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.53 by $1.23. The company had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.22 billion. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the company earned $10.47 EPS. On average, research analysts anticipate that United Rentals, Inc. will post 48.55 EPS for the current year.
United Rentals Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were paid a $1.97 dividend. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $7.88 annualized dividend and a yield of 0.8%. United Rentals’s dividend payout ratio is 18.92%.
Insider Transactions at United Rentals
In other United Rentals news, EVP William E. Grace sold 1,500 shares of the firm’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the transaction, the executive vice president directly owned 6,062 shares in the company, valued at $6,869,155.30. This trade represents a 19.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.47% of the stock is currently owned by company insiders.
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.
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