Danske Bank A S Purchases New Shares in United Rentals, Inc. $URI

Danske Bank A S acquired a new stake in United Rentals, Inc. (NYSE:URI) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 44,631 shares of the construction company’s stock, valued at approximately $42,607,000. Danske Bank A S owned approximately 0.07% of United Rentals as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of URI. Loomis Sayles & Co. L P acquired a new stake in shares of United Rentals during the 2nd quarter valued at about $28,000. Salomon & Ludwin LLC increased its stake 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 valued at $29,000 after purchasing an additional 26 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new position in United Rentals in the 3rd quarter worth about $29,000. Cedar Mountain Advisors LLC purchased a new position in United Rentals during the third quarter worth approximately $32,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in United Rentals during the third quarter worth approximately $40,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Price Performance

NYSE:URI opened at $725.37 on Thursday. The stock has a 50 day moving average of $858.72 and a two-hundred day moving average of $876.41. United Rentals, Inc. has a 12 month low of $525.91 and a 12 month high of $1,021.47. The firm has a market cap of $45.70 billion, a P/E ratio of 18.75, a price-to-earnings-growth ratio of 1.20 and a beta of 1.66. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.41.

United Rentals (NYSE:URI) last released 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). United Rentals had a net margin of 15.49% and a return on equity of 30.35%. The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter last year, the business earned $11.59 EPS. The business’s revenue was up 2.8% compared to the same quarter last year. On average, analysts expect that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Investors 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 represents a $7.88 annualized dividend and a yield of 1.1%. This is a boost from United Rentals’s previous quarterly dividend of $1.79. United Rentals’s dividend payout ratio is currently 20.37%.

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on URI. JPMorgan Chase & Co. cut their price objective on United Rentals from $1,150.00 to $970.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. Robert W. Baird set a $970.00 target price on United Rentals in a research report on Friday, January 30th. Truist Financial set a $972.00 price target on shares of United Rentals in a research note on Friday, January 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of United Rentals in a report on Wednesday, January 21st. Finally, Royal Bank Of Canada reduced their price objective on shares of United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating for the company in a research report on Friday, January 30th. Two investment 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 given a Sell rating to the company’s stock. According to data from MarketBeat, United Rentals has an average rating of “Moderate Buy” and a consensus price target of $925.59.

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 that occurred on 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP William E. Grace sold 1,498 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $790.89, for a total value of $1,184,753.22. Following the completion of the sale, the executive vice president owned 6,872 shares of the company’s stock, valued at $5,434,996.08. This trade represents a 17.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.53% of the stock is currently owned by corporate insiders.

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.