BI Asset Management Fondsmaeglerselskab A S Trims Stake in United Rentals, Inc. $URI

BI Asset Management Fondsmaeglerselskab A S lowered its position in United Rentals, Inc. (NYSE:URI) by 21.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,422 shares of the construction company’s stock after selling 5,462 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in United Rentals were worth $18,541,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Woodline Partners LP boosted its holdings in shares of United Rentals by 40.0% during the 1st quarter. Woodline Partners LP now owns 5,518 shares of the construction company’s stock valued at $3,458,000 after buying an additional 1,577 shares in the last quarter. Ascent Group LLC purchased a new position in United Rentals during the 2nd quarter valued at about $221,000. Valeo Financial Advisors LLC boosted its stake in United Rentals by 15.9% during the second quarter. Valeo Financial Advisors LLC now owns 860 shares of the construction company’s stock worth $648,000 after acquiring an additional 118 shares in the last quarter. Belpointe Asset Management LLC purchased a new stake in United Rentals in the second quarter worth about $231,000. Finally, KLP Kapitalforvaltning AS increased its stake in shares of United Rentals by 3.3% during the second quarter. KLP Kapitalforvaltning AS now owns 25,131 shares of the construction company’s stock valued at $18,934,000 after purchasing an additional 800 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other United Rentals news, EVP Michael D. Durand sold 2,490 shares of the business’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 sale, the executive vice president directly owned 7,458 shares in the company, valued at approximately $5,900,322.12. The trade was a 25.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.53% of the company’s stock.

United Rentals Trading Down 0.1%

Shares of NYSE:URI opened at $847.55 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.94 and a quick ratio of 0.88. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year high of $1,021.47. The company has a market cap of $53.39 billion, a P/E ratio of 21.91, a PEG ratio of 1.36 and a beta of 1.70. The stock’s fifty day moving average price is $849.91 and its 200-day moving average price is $887.59.

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

United Rentals declared that its board has authorized a share repurchase plan on Wednesday, January 28th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 8.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

United Rentals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th will be issued a $1.97 dividend. 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%. The ex-dividend date is Wednesday, February 11th. United Rentals’s dividend payout ratio is 20.37%.

Analysts Set New Price Targets

URI has been the topic of a number of analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of United Rentals in a research report on Wednesday, January 21st. Sanford C. Bernstein set a $965.00 price objective on United Rentals in a research note on Friday, January 30th. UBS Group raised United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 target price on the stock in a research note on Sunday, January 4th. Robert W. Baird set a $970.00 price target on United Rentals in a research report on Friday, January 30th. Finally, KeyCorp set a $950.00 price target on shares of United Rentals in a research note on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $925.59.

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.