AMF Tjanstepension AB Buys New Shares in United Rentals, Inc. $URI

AMF Tjanstepension AB purchased a new stake in shares of United Rentals, Inc. (NYSE:URI) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 82,696 shares of the construction company’s stock, valued at approximately $60,249,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Capital World Investors grew its stake in shares of United Rentals by 1.1% during the 4th quarter. Capital World Investors now owns 2,708,877 shares of the construction company’s stock valued at $2,192,357,000 after acquiring an additional 30,263 shares during the period. Franklin Resources Inc. raised its stake in United Rentals by 2.2% during the 4th quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company’s stock worth $1,087,711,000 after acquiring an additional 28,895 shares during the period. Norges Bank bought a new stake in United Rentals during the 4th quarter worth approximately $978,017,000. Alliancebernstein L.P. lifted its holdings in United Rentals by 5.6% during the third quarter. Alliancebernstein L.P. now owns 1,088,209 shares of the construction company’s stock valued at $1,038,870,000 after purchasing an additional 57,977 shares in the last quarter. Finally, Boston Partners lifted its holdings in United Rentals by 4.0% during the fourth quarter. Boston Partners now owns 774,347 shares of the construction company’s stock valued at $631,459,000 after purchasing an additional 29,675 shares in the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Joli L. Gross sold 306 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $954.99, for a total value of $292,226.94. Following the transaction, the senior vice president directly owned 5,738 shares in the company, valued at approximately $5,479,732.62. This represents a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Andrew B. Limoges sold 548 shares of the firm’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $977.86, for a total transaction of $535,867.28. Following the completion of the transaction, the vice president directly owned 1,865 shares in the company, valued at $1,823,708.90. This represents a 22.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 26,088 shares of company stock worth $25,628,877. Insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on URI. Barclays increased their price objective on shares of United Rentals from $600.00 to $715.00 and gave the stock an “underweight” rating in a research note on Friday, April 24th. Evercore reaffirmed an “outperform” rating and issued a $1,101.00 target price on shares of United Rentals in a report on Monday, May 11th. Raymond James Financial reiterated an “outperform” rating and issued a $1,275.00 price target on shares of United Rentals in a research note on Wednesday, June 10th. Citigroup raised their price target on United Rentals from $1,130.00 to $1,210.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Royal Bank Of Canada boosted their price objective on United Rentals from $1,041.00 to $1,119.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Fourteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,124.69.

United Rentals Stock Up 0.1%

Shares of URI opened at $1,096.69 on Monday. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.37. The business has a fifty day moving average of $1,029.74 and a 200 day moving average of $902.60. The company has a market cap of $68.70 billion, a PE ratio of 27.98, a P/E/G ratio of 1.75 and a beta of 1.79. United Rentals, Inc. has a 52-week low of $701.59 and a 52-week high of $1,143.69.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.47 by ($1.76). The firm had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.20 billion. United Rentals had a return on equity of 30.56% and a net margin of 15.32%.United Rentals’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $8.86 EPS. On average, sell-side analysts expect that United Rentals, Inc. will post 46.7 EPS for the current year.

United Rentals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were given a $1.97 dividend. This represents a $7.88 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, May 13th. United Rentals’s dividend payout ratio is 20.10%.

United Rentals Company 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.