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

E. Ohman J or Asset Management AB reduced its stake in shares of United Rentals, Inc. (NYSE:URI) by 24.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,242 shares of the construction company’s stock after selling 708 shares during the period. E. Ohman J or Asset Management AB’s holdings in United Rentals were worth $1,814,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in United Rentals in the 2nd quarter worth $776,102,000. Capital International Investors boosted its position in shares of United Rentals by 22.8% during the third quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock worth $3,247,762,000 after buying an additional 631,484 shares during the period. Boston Partners grew its holdings in shares of United Rentals by 74.5% during the second quarter. Boston Partners now owns 715,250 shares of the construction company’s stock worth $542,526,000 after buying an additional 305,378 shares in the last quarter. TD Asset Management Inc lifted its stake in United Rentals by 66.5% in the 3rd quarter. TD Asset Management Inc now owns 484,450 shares of the construction company’s stock valued at $462,485,000 after acquiring an additional 193,416 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in United Rentals by 34,208.2% during the 2nd quarter. Lazard Asset Management LLC now owns 189,038 shares of the construction company’s stock worth $142,421,000 after acquiring an additional 188,487 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insider Buying and Selling at United Rentals

In other United Rentals news, EVP William E. Grace sold 1,498 shares of the 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 transaction, the executive vice president owned 6,872 shares in the company, valued at $5,434,996.08. This trade represents a 17.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael D. Durand sold 2,490 shares of United Rentals stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $791.14, for a total value of $1,969,938.60. Following the sale, the executive vice president directly owned 7,458 shares of the company’s stock, valued at $5,900,322.12. This represents a 25.03% decrease in their position. The SEC filing for this sale provides additional information. 0.51% of the stock is owned by company insiders.

United Rentals Stock Up 2.0%

Shares of URI opened at $746.37 on Wednesday. The firm 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. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.88 and a current ratio of 0.94. United Rentals, Inc. has a 52 week low of $525.91 and a 52 week high of $1,021.47. The firm’s 50-day simple moving average is $841.97 and its 200 day simple moving average is $869.26.

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 the consensus estimate of $11.86 by ($0.77). United Rentals had a return on equity of 30.35% and a net margin of 15.49%.The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter last year, the business earned $11.59 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. On average, analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals declared that its board has approved a share 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 buy up to 8.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are 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 issued a $1.97 dividend. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $7.88 dividend on an annualized basis and a yield of 1.1%. This is a positive change from United Rentals’s previous quarterly dividend of $1.79. United Rentals’s payout ratio is currently 20.37%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on URI shares. JPMorgan Chase & Co. lowered their price objective on shares of United Rentals from $1,150.00 to $970.00 and set an “overweight” rating on the stock in a report on Friday, January 30th. Sanford C. Bernstein set a $965.00 target price on shares of United Rentals in a research report on Friday, January 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of United Rentals in a research note on Wednesday, January 21st. KeyCorp set a $950.00 price objective on shares of United Rentals in a research note on Friday, January 30th. Finally, Citigroup decreased their price objective 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. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock 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.