E. Ohman J or Asset Management AB Sells 708 Shares of United Rentals, Inc. $URI

E. Ohman J or Asset Management AB cut its position in United Rentals, Inc. (NYSE:URI) by 24.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,242 shares of the construction company’s stock after selling 708 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in United Rentals were worth $1,814,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Avanza Fonder AB boosted its position in shares of United Rentals by 25.1% during the 4th quarter. Avanza Fonder AB now owns 5,678 shares of the construction company’s stock worth $4,595,000 after acquiring an additional 1,140 shares in the last quarter. Assenagon Asset Management S.A. raised its position in United Rentals by 748.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 85,129 shares of the construction company’s stock valued at $68,897,000 after purchasing an additional 75,092 shares in the last quarter. Cambridge Financial Group LLC bought a new stake in United Rentals during the fourth quarter worth $235,000. Marshall Financial Group LLC bought a new stake in United Rentals during the fourth quarter worth $605,000. Finally, Tactive Advisors LLC acquired a new stake in shares of United Rentals in the 4th quarter valued at $233,000. Institutional investors own 96.26% of the company’s stock.

Insider Buying and Selling at United Rentals

In other news, EVP Michael D. Durand sold 2,490 shares of United Rentals 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 transaction, the executive vice president owned 7,458 shares in the company, valued at approximately $5,900,322.12. The trade was a 25.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William E. Grace sold 1,498 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was 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 in the company, valued at approximately $5,434,996.08. This represents a 17.90% decrease in their position. The SEC filing for this sale provides additional information. 0.51% of the stock is currently owned by company insiders.

United Rentals Stock Performance

NYSE:URI opened at $746.37 on Wednesday. The stock’s 50-day moving average is $841.97 and its 200-day moving average is $869.26. United Rentals, Inc. has a 1-year low of $525.91 and a 1-year 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. The stock has a market cap of $47.02 billion, a P/E ratio of 19.30, a price-to-earnings-growth ratio of 1.18 and a beta of 1.66.

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

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

United Rentals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were paid a dividend of $1.97 per share. The ex-dividend date of this dividend was Wednesday, February 11th. This is an increase from United Rentals’s previous quarterly dividend of $1.79. This represents a $7.88 annualized dividend and a dividend yield of 1.1%. United Rentals’s payout ratio is 20.37%.

Analyst Ratings Changes

A number of research firms have recently commented on URI. JPMorgan Chase & Co. lowered their price target on United Rentals from $1,150.00 to $970.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Royal Bank Of Canada decreased their target price on United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating on the stock in a research report on Friday, January 30th. Truist Financial set a $972.00 target price on United Rentals in a research note on Friday, January 30th. Robert W. Baird set a $970.00 price target on shares of United Rentals in a research note on Friday, January 30th. Finally, UBS Group upgraded shares of United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 price objective for the company in a research report on Sunday, January 4th. Two equities research 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 given a Sell rating to the company. Based on data from MarketBeat, United Rentals currently has an average rating of “Moderate Buy” and a consensus price target of $925.59.

United Rentals Profile

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.