United Rentals, Inc. $URI Stock Holdings Lifted by Nordea Investment Management AB

Nordea Investment Management AB grew its position in United Rentals, Inc. (NYSE:URI) by 22.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 154,688 shares of the construction company’s stock after acquiring an additional 28,604 shares during the quarter. Nordea Investment Management AB’s holdings in United Rentals were worth $126,362,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of United Rentals during the 2nd quarter valued at about $776,102,000. Capital International Investors increased its holdings in United Rentals by 22.8% in the third quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock worth $3,247,762,000 after buying an additional 631,484 shares during the last quarter. Boston Partners increased its holdings in United Rentals by 74.5% in the second quarter. Boston Partners now owns 715,250 shares of the construction company’s stock worth $542,526,000 after buying an additional 305,378 shares during the last quarter. TD Asset Management Inc raised its position in United Rentals by 66.5% during the third quarter. TD Asset Management Inc now owns 484,450 shares of the construction company’s stock valued at $462,485,000 after acquiring an additional 193,416 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its stake in 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 acquiring an additional 188,487 shares during the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Trading Down 1.3%

United Rentals stock opened at $710.36 on Monday. United Rentals, Inc. has a 52 week low of $525.91 and a 52 week high of $1,021.47. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.88 and a current ratio of 0.94. The firm has a market capitalization of $44.75 billion, a PE ratio of 18.36, a PEG ratio of 1.15 and a beta of 1.66. The business’s 50-day simple moving average is $850.16 and its 200-day simple moving average is $872.52.

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

United Rentals declared that its Board of Directors has approved a share buyback plan on Wednesday, January 28th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the construction company to reacquire up to 8.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

United Rentals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were given a $1.97 dividend. This is a positive change from United Rentals’s previous quarterly dividend of $1.79. This represents a $7.88 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Wednesday, February 11th. United Rentals’s dividend payout ratio (DPR) is currently 20.37%.

Insider Activity at United Rentals

In related news, EVP Michael D. Durand sold 2,490 shares of the company’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 represents a 25.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP William E. Grace sold 1,498 shares of the 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 directly 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. Additional details regarding this sale are available in the official SEC disclosure. 0.51% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Robert W. Baird set a $970.00 target price on shares of United Rentals in a research report on Friday, January 30th. KeyCorp set a $950.00 price target on shares of United Rentals in a report on Friday, January 30th. JPMorgan Chase & Co. reduced their price objective on shares of United Rentals from $1,150.00 to $970.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. Truist Financial set a $972.00 price objective on shares of United Rentals in a report on Friday, January 30th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of United Rentals in a report on Wednesday, January 21st. Two investment 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.