Lansforsakringar Fondforvaltning AB publ Has $32.83 Million Stock Holdings in United Rentals, Inc. $URI

Lansforsakringar Fondforvaltning AB publ raised its holdings in United Rentals, Inc. (NYSE:URI) by 3.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,388 shares of the construction company’s stock after acquiring an additional 1,095 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in United Rentals were worth $32,829,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in URI. Norges Bank bought a new stake in shares of United Rentals during the 2nd quarter valued at approximately $776,102,000. JPMorgan Chase & Co. increased its holdings in United Rentals by 71.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,874,127 shares of the construction company’s stock worth $1,411,968,000 after purchasing an additional 780,322 shares in the last quarter. Boston Partners grew its holdings in shares of United Rentals by 74.5% during the second quarter. Boston Partners now owns 715,250 shares of the construction company’s stock worth $542,526,000 after purchasing an additional 305,378 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of United Rentals by 34,208.2% in the second quarter. Lazard Asset Management LLC now owns 189,038 shares of the construction company’s stock valued at $142,421,000 after buying an additional 188,487 shares during the period. Finally, Bessemer Group Inc. boosted its position in United Rentals by 4,436.8% during the 2nd quarter. Bessemer Group Inc. now owns 163,552 shares of the construction company’s stock worth $123,221,000 after buying an additional 159,947 shares during the period. Institutional investors own 96.26% of the company’s stock.

United Rentals Stock Up 2.1%

Shares of NYSE:URI opened at $908.05 on Friday. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year high of $1,021.47. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.94 and a quick ratio of 0.88. The business’s 50-day moving average is $865.87 and its 200-day moving average is $889.57. The company has a market capitalization of $57.21 billion, a price-to-earnings ratio of 23.48, a P/E/G ratio of 1.46 and a beta of 1.70.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, January 28th. The construction company reported $11.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.86 by ($0.77). The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.24 billion. United Rentals had a net margin of 15.49% and a return on equity of 30.35%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $11.59 EPS. Equities research analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th will be issued a $1.97 dividend. The ex-dividend date is Wednesday, February 11th. This is an increase from United Rentals’s previous quarterly dividend of $1.79. This represents a $7.88 annualized dividend and a yield of 0.9%. United Rentals’s dividend payout ratio is currently 20.37%.

United Rentals declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 8.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on United Rentals from $1,150.00 to $970.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Truist Financial set a $972.00 price target on United Rentals in a research report on Friday, January 30th. KeyCorp set a $950.00 price target on United Rentals in a research note on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of United Rentals in a research note on Wednesday, January 21st. Finally, Sanford C. Bernstein set a $965.00 target price on United Rentals in a report on Friday, January 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $925.59.

Insider Buying and Selling

In other United Rentals news, EVP William E. Grace sold 1,498 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $790.89, for a total transaction of $1,184,753.22. Following the completion of the sale, the executive vice president owned 6,872 shares in the company, valued at approximately $5,434,996.08. The trade was a 17.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael D. Durand sold 2,490 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $791.14, for a total transaction of $1,969,938.60. Following the completion of the transaction, the executive vice president directly owned 7,458 shares in the company, valued at $5,900,322.12. This trade represents a 25.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.53% of the company’s stock.

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.