Handelsbanken Fonder AB boosted its holdings in shares of United Rentals, Inc. (NYSE:URI – Free Report) by 5.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,613 shares of the construction company’s stock after acquiring an additional 898 shares during the quarter. Handelsbanken Fonder AB’s holdings in United Rentals were worth $15,064,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of URI. Woodline Partners LP boosted its holdings in United Rentals by 40.0% during the 1st quarter. Woodline Partners LP now owns 5,518 shares of the construction company’s stock valued at $3,458,000 after acquiring an additional 1,577 shares during the period. Sei Investments Co. boosted its holdings in United Rentals by 24.7% during the 2nd quarter. Sei Investments Co. now owns 27,136 shares of the construction company’s stock valued at $20,444,000 after acquiring an additional 5,375 shares during the period. Treasurer of the State of North Carolina boosted its holdings in United Rentals by 43.6% during the 2nd quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company’s stock valued at $42,233,000 after acquiring an additional 17,030 shares during the period. HUB Investment Partners LLC boosted its holdings in United Rentals by 11.3% during the 2nd quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company’s stock valued at $1,661,000 after acquiring an additional 223 shares during the period. Finally, Diversify Advisory Services LLC boosted its holdings in United Rentals by 338.7% during the 2nd quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company’s stock valued at $1,246,000 after acquiring an additional 1,277 shares during the period. Hedge funds and other institutional investors own 96.26% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on URI shares. Weiss Ratings upgraded United Rentals from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. Robert W. Baird boosted their price objective on United Rentals from $970.00 to $1,100.00 and gave the company an “outperform” rating in a report on Friday, April 24th. JPMorgan Chase & Co. lifted their target price on United Rentals from $850.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. Royal Bank Of Canada lifted their target price on United Rentals from $1,041.00 to $1,119.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Finally, Sanford C. Bernstein set a $903.00 target price on United Rentals and gave the company an “outperform” rating in a research report on Thursday, April 9th. Thirteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, United Rentals currently has a consensus rating of “Moderate Buy” and a consensus price target of $996.94.
United Rentals Trading Down 0.5%
Shares of NYSE URI opened at $931.17 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.37. The business has a fifty day simple moving average of $827.82 and a two-hundred day simple moving average of $840.57. The firm has a market cap of $58.34 billion, a PE ratio of 23.75, a price-to-earnings-growth ratio of 1.49 and a beta of 1.83. United Rentals, Inc. has a twelve month low of $681.98 and a twelve month high of $1,021.47.
United Rentals (NYSE:URI – Get Free Report) last issued its earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the firm earned $8.86 earnings per share. Analysts expect that United Rentals, Inc. will post 47.07 earnings per share for the current fiscal year.
United Rentals Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th will be given a $1.97 dividend. This represents a $7.88 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, May 13th. United Rentals’s payout ratio is presently 20.10%.
United Rentals declared that its board has approved a stock buyback program on Wednesday, January 28th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the construction company to repurchase up to 8.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
Insider Buying and Selling
In other news, EVP Craig Adam Pintoff sold 2,466 shares of the business’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 transaction, the executive vice president directly owned 14,774 shares of the company’s stock, valued at approximately $14,227,362. The trade was a 14.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Matthew John Flannery sold 22,768 shares of the business’s 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 completion of the transaction, the chief executive officer directly owned 99,980 shares of the company’s stock, valued at approximately $98,478,300.40. The trade was a 18.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 26,088 shares of company stock valued at $25,628,877. 0.47% of the stock is currently owned by insiders.
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.
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