Tredje AP fonden Cuts Stake in United Rentals, Inc. $URI

Tredje AP fonden trimmed its stake in United Rentals, Inc. (NYSE:URI) by 21.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,324 shares of the construction company’s stock after selling 1,705 shares during the quarter. Tredje AP fonden’s holdings in United Rentals were worth $6,037,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of URI. Norges Bank acquired a new stake in shares of United Rentals during the 2nd quarter worth $776,102,000. JPMorgan Chase & Co. increased its stake in United Rentals by 71.3% during the second quarter. JPMorgan Chase & Co. now owns 1,874,127 shares of the construction company’s stock worth $1,411,968,000 after acquiring an additional 780,322 shares during the last quarter. Boston Partners raised its holdings in shares of United Rentals by 74.5% in the 2nd 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 period. Lazard Asset Management LLC lifted its stake in shares of United Rentals by 34,208.2% in the 2nd quarter. Lazard Asset Management LLC now owns 189,038 shares of the construction company’s stock valued at $142,421,000 after purchasing an additional 188,487 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of 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 purchasing an additional 159,947 shares during the period. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Analysts Set New Price Targets

URI has been the topic of several research reports. Truist Financial set a $972.00 price target on shares of United Rentals in a report on Friday, January 30th. Robert W. Baird set a $970.00 price objective on shares of United Rentals in a research report on Friday, January 30th. JPMorgan Chase & Co. reduced their target price on shares of United Rentals from $1,150.00 to $970.00 and set an “overweight” rating on the stock in a report on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of United Rentals in a research report on Wednesday, January 21st. Finally, Sanford C. Bernstein set a $965.00 price objective on United Rentals in a research report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $925.59.

United Rentals Price Performance

URI opened at $908.05 on Friday. The company has a fifty day simple moving average of $865.87 and a 200 day simple moving average of $889.57. The firm has a market cap of $57.21 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 1.46 and a beta of 1.70. United Rentals, Inc. has a twelve month low of $525.91 and a twelve month high of $1,021.47. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.41.

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

United Rentals Increases Dividend

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

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

Insider Activity at United Rentals

In other news, EVP William E. Grace sold 1,498 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $5,434,996.08. This trade represents a 17.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael D. Durand sold 2,490 shares of United Rentals stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $791.14, for a total transaction of $1,969,938.60. Following the completion of the sale, the executive vice president owned 7,458 shares of the company’s stock, valued at approximately $5,900,322.12. This trade represents a 25.03% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.53% of the stock is owned by 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.