United Rentals, Inc. $URI Shares Bought by Avanza Fonder AB

Avanza Fonder AB increased its stake in United Rentals, Inc. (NYSE:URI) by 25.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,678 shares of the construction company’s stock after acquiring an additional 1,140 shares during the period. Avanza Fonder AB’s holdings in United Rentals were worth $4,595,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in URI. Optas LLC raised its holdings in United Rentals by 0.9% during the third quarter. Optas LLC now owns 1,174 shares of the construction company’s stock worth $1,121,000 after purchasing an additional 10 shares in the last quarter. CreativeOne Wealth LLC increased its position in shares of United Rentals by 0.5% during the 2nd quarter. CreativeOne Wealth LLC now owns 2,283 shares of the construction company’s stock valued at $1,720,000 after purchasing an additional 11 shares during the period. OFI Invest Asset Management increased its position in shares of United Rentals by 6.7% during the 3rd quarter. OFI Invest Asset Management now owns 175 shares of the construction company’s stock valued at $167,000 after purchasing an additional 11 shares during the period. Great Valley Advisor Group Inc. raised its stake in shares of United Rentals by 2.9% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock worth $292,000 after buying an additional 11 shares in the last quarter. Finally, Opal Wealth Advisors LLC raised its stake in shares of United Rentals by 2.7% in the 3rd quarter. Opal Wealth Advisors LLC now owns 450 shares of the construction company’s stock worth $430,000 after buying an additional 12 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insider Transactions at United Rentals

In other United Rentals news, EVP Michael D. Durand sold 2,490 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $791.14, for a total value 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 trade represents a 25.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP William E. Grace sold 1,498 shares of United Rentals stock in a transaction that occurred 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 transaction, the executive vice president directly owned 6,872 shares in the company, 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.

United Rentals Stock Performance

URI opened at $746.37 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.41. The firm has a market cap of $47.02 billion, a PE ratio of 19.30, a P/E/G ratio of 1.18 and a beta of 1.66. The business has a fifty day simple moving average of $841.97 and a 200-day simple moving average of $869.26. United Rentals, Inc. has a fifty-two week low of $525.91 and a fifty-two week high of $1,021.47.

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

United Rentals declared that its board has authorized a stock repurchase program on Wednesday, January 28th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the construction company to repurchase up to 8.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

United Rentals Increases Dividend

The company also recently disclosed 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. This represents a $7.88 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, February 11th. United Rentals’s payout ratio is currently 20.37%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. KeyCorp set a $950.00 price objective on United Rentals in a report on Friday, January 30th. Citigroup dropped their price target on shares of United Rentals from $1,090.00 to $950.00 and set a “buy” rating on the stock in a research report on Monday, February 2nd. JPMorgan Chase & Co. cut their price target on shares of United Rentals from $1,150.00 to $970.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Truist Financial set a $972.00 price objective on shares of United Rentals in a research report on Friday, January 30th. Finally, Royal Bank Of Canada lowered their price objective on shares of United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating on the stock in a research note on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, United Rentals 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.