United Rentals, Inc. $URI Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB raised its holdings in United Rentals, Inc. (NYSE:URI) by 22.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 154,688 shares of the construction company’s stock after acquiring an additional 28,604 shares during the quarter. Nordea Investment Management AB owned 0.24% of United Rentals worth $126,362,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in URI. Salomon & Ludwin LLC raised its holdings in shares of United Rentals by 650.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 30 shares of the construction company’s stock worth $29,000 after purchasing an additional 26 shares in the last quarter. Abich Financial Wealth Management LLC bought a new stake in United Rentals during the third quarter worth approximately $29,000. Aventura Private Wealth LLC bought a new stake in United Rentals during the fourth quarter worth approximately $27,000. Cedar Mountain Advisors LLC acquired a new position in United Rentals in the third quarter worth approximately $32,000. Finally, Loomis Sayles & Co. L P acquired a new position in United Rentals in the second quarter worth approximately $28,000. Institutional investors own 96.26% of the company’s stock.

United Rentals Price Performance

URI opened at $710.36 on Monday. The firm has a market capitalization of $44.75 billion, a P/E ratio of 18.36, a PEG ratio of 1.15 and a beta of 1.66. The stock has a fifty day moving average of $850.16 and a 200-day moving average of $872.52. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.41. United Rentals, Inc. has a 12-month low of $525.91 and a 12-month high of $1,021.47.

United Rentals (NYSE:URI) last issued its quarterly 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 for the quarter, compared to analysts’ expectations of $4.24 billion. United Rentals had a net margin of 15.49% and a return on equity of 30.35%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $11.59 EPS. Equities analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals announced that its Board of Directors has initiated a stock buyback program on Wednesday, January 28th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the construction company to purchase up to 8.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

United Rentals Increases Dividend

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

Insider Activity

In other news, EVP William E. Grace sold 1,498 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $790.89, for a total value of $1,184,753.22. Following the transaction, the executive vice president owned 6,872 shares in the company, valued at $5,434,996.08. This represents a 17.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael D. Durand sold 2,490 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was 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 of the company’s stock, valued at $5,900,322.12. This trade represents a 25.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.51% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on URI shares. Truist Financial set a $972.00 price objective on United Rentals in a research report on Friday, January 30th. UBS Group upgraded United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 target price on the stock in a report on Sunday, January 4th. Royal Bank Of Canada cut 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. Citigroup reduced their target price on United Rentals from $1,090.00 to $950.00 and set a “buy” rating for the company in a report on Monday, February 2nd. Finally, Sanford C. Bernstein set a $965.00 price target on United Rentals in a research report on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.