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

Handelsbanken Fonder AB trimmed its stake in United Rentals, Inc. (NYSE:URI) by 12.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,043 shares of the construction company’s stock after selling 1,386 shares during the period. Handelsbanken Fonder AB’s holdings in United Rentals were worth $5,759,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in URI. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in United Rentals by 0.8% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,879 shares of the construction company’s stock worth $3,945,000 after buying an additional 57 shares during the last quarter. Signaturefd LLC grew its stake in United Rentals by 2.1% during the 4th quarter. Signaturefd LLC now owns 1,485 shares of the construction company’s stock worth $852,000 after buying an additional 30 shares during the last quarter. Verdence Capital Advisors LLC purchased a new stake in United Rentals during the 4th quarter valued at about $257,000. abrdn plc grew its stake in United Rentals by 57.1% during the 4th quarter. abrdn plc now owns 32,578 shares of the construction company’s stock valued at $18,681,000 after purchasing an additional 11,840 shares during the last quarter. Finally, CNB Bank grew its stake in United Rentals by 99.2% during the 4th quarter. CNB Bank now owns 520 shares of the construction company’s stock valued at $298,000 after purchasing an additional 259 shares during the last quarter. 96.26% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO William E. Grace sold 775 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $655.62, for a total value of $508,105.50. Following the transaction, the chief financial officer now owns 6,323 shares in the company, valued at $4,145,485.26. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

URI has been the topic of several research analyst reports. Evercore ISI boosted their price target on United Rentals from $575.00 to $740.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. The Goldman Sachs Group upped their target price on United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. BNP Paribas reaffirmed an “underperform” rating and set a $485.00 target price on shares of United Rentals in a report on Friday, January 5th. Barclays raised their target price on United Rentals from $325.00 to $400.00 and gave the stock an “underweight” rating in a report on Friday, January 26th. Finally, Wells Fargo & Company raised their target price on United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $589.21.

United Rentals Stock Performance

Shares of URI stock opened at $690.92 on Friday. The company has a market capitalization of $46.41 billion, a P/E ratio of 18.71, a P/E/G ratio of 2.27 and a beta of 1.84. The business’s 50 day moving average is $680.37 and its two-hundred day moving average is $576.87. The company has a current ratio of 0.81, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. United Rentals, Inc. has a 12-month low of $325.15 and a 12-month high of $732.37.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, beating the consensus estimate of $8.35 by $0.80. The business had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.44 billion. United Rentals had a return on equity of 36.85% and a net margin of 17.31%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $7.95 earnings per share. Analysts expect that United Rentals, Inc. will post 43.13 EPS for the current fiscal year.

United Rentals declared that its Board of Directors has approved a share buyback program on Wednesday, January 24th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 3.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be given a $1.63 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $6.52 annualized dividend and a dividend yield of 0.94%. United Rentals’s dividend payout ratio (DPR) is presently 17.66%.

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.