Lansforsakringar Fondforvaltning AB publ Sells 5,451 Shares of United Rentals, Inc. $URI

Lansforsakringar Fondforvaltning AB publ cut its position in shares of United Rentals, Inc. (NYSE:URI) by 16.3% in the first quarter, Holdings Channel.com reports. The firm owned 27,959 shares of the construction company’s stock after selling 5,451 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in United Rentals were worth $20,370,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Aventura Private Wealth LLC bought a new stake in United Rentals in the fourth quarter worth about $27,000. Core Wealth Advisors LLC acquired a new position in United Rentals in the 4th quarter worth approximately $28,000. MV Capital Management Inc. purchased a new position in United Rentals during the 4th quarter worth approximately $28,000. Board of the Pension Protection Fund purchased a new position in United Rentals during the 4th quarter worth approximately $32,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in United Rentals during the 4th quarter valued at approximately $32,000. 96.26% of the stock is currently owned by institutional investors.

Insider Transactions at United Rentals

In other United Rentals news, EVP Craig Adam Pintoff sold 2,466 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $963.00, for a total transaction 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. The trade was a 14.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew John Flannery sold 22,768 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were 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 of the company’s stock, valued at $98,478,300.40. The trade was a 18.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 26,088 shares of company stock valued at $25,628,877 in the last 90 days. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

URI has been the topic of a number of research reports. Bank of America increased their price objective on shares of United Rentals from $1,020.00 to $1,195.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Truist Financial set a $1,209.00 target price on shares of United Rentals in a research report on Friday, April 24th. Robert W. Baird upped their price target on shares of United Rentals from $970.00 to $1,100.00 and gave the company an “outperform” rating in a report on Friday, April 24th. KeyCorp increased their price target on United Rentals from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $1,030.00 price objective on shares of United Rentals in a research note on Friday, April 24th. Fifteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,096.75.

United Rentals Price Performance

Shares of NYSE URI opened at $1,133.64 on Wednesday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80. The firm has a fifty day moving average of $1,000.42 and a 200 day moving average of $886.92. The firm has a market cap of $71.02 billion, a PE ratio of 28.92, a PEG ratio of 1.79 and a beta of 1.81. United Rentals, Inc. has a one year low of $701.59 and a one year high of $1,143.69.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.47 by ($1.76). The company had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the business earned $8.86 EPS. As a group, research analysts predict that United Rentals, Inc. will post 46.76 EPS for the current fiscal year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were issued a $1.97 dividend. This represents a $7.88 annualized dividend and a yield of 0.7%. The ex-dividend date was Wednesday, May 13th. United Rentals’s payout ratio is presently 20.10%.

United Rentals 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.