Handelsbanken Fonder AB Raises Stock Position in United Rentals, Inc. (NYSE:URI)

Handelsbanken Fonder AB increased its stake in United Rentals, Inc. (NYSE:URI) by 2.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,500 shares of the construction company’s stock after acquiring an additional 473 shares during the quarter. Handelsbanken Fonder AB’s holdings in United Rentals were worth $10,967,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in URI. Norges Bank purchased a new stake in United Rentals in the 4th quarter worth $695,716,000. GAMMA Investing LLC increased its holdings in United Rentals by 77,674.5% in the 1st quarter. GAMMA Investing LLC now owns 887,407 shares of the construction company’s stock worth $556,138,000 after acquiring an additional 886,266 shares in the last quarter. Leigh Baldwin & CO. LLC purchased a new stake in United Rentals in the 4th quarter worth $330,989,000. Capital World Investors increased its holdings in United Rentals by 17.1% in the 4th quarter. Capital World Investors now owns 2,221,228 shares of the construction company’s stock worth $1,564,722,000 after acquiring an additional 323,636 shares in the last quarter. Finally, Capital International Investors increased its holdings in United Rentals by 41.0% in the 4th quarter. Capital International Investors now owns 1,051,365 shares of the construction company’s stock worth $740,624,000 after acquiring an additional 305,491 shares in the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Trading Down 0.5%

Shares of URI stock opened at $716.33 on Friday. The company’s 50-day moving average price is $660.07 and its 200-day moving average price is $693.77. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42. The stock has a market cap of $46.56 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 1.43 and a beta of 1.70. United Rentals, Inc. has a twelve month low of $525.91 and a twelve month high of $896.98.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, April 23rd. The construction company reported $8.86 earnings per share for the quarter, missing the consensus estimate of $8.92 by ($0.06). The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.61 billion. United Rentals had a net margin of 16.78% and a return on equity of 34.21%. The company’s revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $9.15 EPS. As a group, equities analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were given a dividend of $1.79 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $7.16 annualized dividend and a dividend yield of 1.00%. United Rentals’s payout ratio is 18.54%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on URI. JPMorgan Chase & Co. boosted their price target on shares of United Rentals from $780.00 to $920.00 and gave the stock an “overweight” rating in a report on Wednesday, May 21st. Truist Financial upped their target price on shares of United Rentals from $732.00 to $786.00 and gave the stock a “buy” rating in a report on Friday, April 25th. Cfra Research raised shares of United Rentals to a “strong-buy” rating in a report on Friday, April 25th. UBS Group raised shares of United Rentals from a “sell” rating to a “neutral” rating and upped their target price for the stock from $485.00 to $780.00 in a report on Friday, May 16th. Finally, The Goldman Sachs Group upped their target price on shares of United Rentals from $770.00 to $850.00 and gave the stock a “buy” rating in a report on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $753.15.

Insider Activity

In other United Rentals news, VP Andrew B. Limoges sold 708 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $705.86, for a total transaction of $499,748.88. Following the completion of the transaction, the vice president now owns 1,921 shares of the company’s stock, valued at $1,355,957.06. This trade represents a 26.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael D. Durand sold 1,100 shares of the stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $626.28, for a total transaction of $688,908.00. Following the transaction, the executive vice president now directly owns 8,748 shares of the company’s stock, valued at approximately $5,478,697.44. This trade represents a 11.17% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

United Rentals Profile

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.