Handelsbanken Fonder AB Trims Stake in United Rentals, Inc. (NYSE:URI)

Handelsbanken Fonder AB lowered its position in United Rentals, Inc. (NYSE:URI) by 12.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 10,043 shares of the construction company’s stock after selling 1,386 shares during the quarter. Handelsbanken Fonder AB’s holdings in United Rentals were worth $5,759,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of URI. OFI Invest Asset Management acquired a new stake in shares of United Rentals in the 3rd quarter worth approximately $25,000. AdvisorNet Financial Inc grew its holdings in shares of United Rentals by 71.4% in the 4th quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock worth $28,000 after acquiring an additional 20 shares during the period. NBC Securities Inc. acquired a new stake in shares of United Rentals in the 3rd quarter worth approximately $29,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in United Rentals in the 3rd quarter valued at approximately $40,000. Finally, Arlington Trust Co LLC lifted its stake in United Rentals by 50.0% in the 4th quarter. Arlington Trust Co LLC now owns 84 shares of the construction company’s stock valued at $48,000 after buying an additional 28 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Stock Up 5.5 %

Shares of United Rentals stock opened at $690.92 on Friday. The business has a 50-day moving average of $680.37 and a 200-day moving average of $576.87. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.81 and a quick ratio of 0.75. The company has a market capitalization of $46.41 billion, a PE ratio of 18.71, a P/E/G ratio of 2.27 and a beta of 1.84. United Rentals, Inc. has a 1-year low of $325.15 and a 1-year high of $732.37.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.35 by $0.80. United Rentals had a net margin of 17.31% and a return on equity of 36.85%. The firm had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.44 billion. During the same quarter last year, the company posted $7.95 earnings per share. United Rentals’s revenue was up 6.1% on a year-over-year basis. As a group, equities analysts forecast that United Rentals, Inc. will post 43.13 EPS for the current fiscal year.

United Rentals Announces Dividend

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

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

Analyst Ratings Changes

URI has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price on United Rentals from $630.00 to $710.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. BNP Paribas reissued an “underperform” rating and set a $485.00 price target on shares of United Rentals in a research note on Friday, January 5th. Truist Financial began coverage on United Rentals in a research note on Thursday, March 14th. They set a “buy” rating and a $793.00 price target on the stock. Barclays increased their price target on United Rentals from $325.00 to $400.00 and gave the stock an “underweight” rating in a research note on Friday, January 26th. Finally, The Goldman Sachs Group increased their price target on United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Three analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $589.21.

Insider Activity at United Rentals

In related news, CFO William E. Grace sold 775 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $655.62, for a total transaction 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 Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.53% of the company’s stock.

United Rentals Company 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.