United Rentals, Inc. $URI Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ reduced its position in shares of United Rentals, Inc. (NYSE:URI) by 8.2% during the third quarter, Holdings Channel.com reports. The fund owned 17,559 shares of the construction company’s stock after selling 1,566 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in United Rentals were worth $16,763,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new position in shares of United Rentals in the second quarter worth approximately $776,102,000. JPMorgan Chase & Co. lifted its stake in shares of United Rentals by 71.3% in the second quarter. JPMorgan Chase & Co. now owns 1,874,127 shares of the construction company’s stock worth $1,411,968,000 after buying an additional 780,322 shares during the last quarter. Boston Partners grew its position in shares of United Rentals by 74.5% in the second quarter. Boston Partners now owns 715,250 shares of the construction company’s stock valued at $542,526,000 after purchasing an additional 305,378 shares during the last quarter. Lazard Asset Management LLC grew its holdings in United Rentals by 34,208.2% in the 2nd quarter. Lazard Asset Management LLC now owns 189,038 shares of the construction company’s stock valued at $142,421,000 after buying an additional 188,487 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in United Rentals by 4,436.8% during the second quarter. Bessemer Group Inc. now owns 163,552 shares of the construction company’s stock worth $123,221,000 after acquiring an additional 159,947 shares during the period. Institutional investors 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 business’s 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 transaction, the executive vice president owned 7,458 shares of the company’s stock, valued at $5,900,322.12. The trade was a 25.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William E. Grace sold 1,498 shares of the business’s stock in a transaction that occurred on 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 directly owned 6,872 shares in the company, valued at $5,434,996.08. The trade was 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.

Analysts Set New Price Targets

A number of brokerages have commented on URI. Royal Bank Of Canada reduced their price objective on 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. Truist Financial set a $972.00 target price on shares of United Rentals in a research note on Friday, January 30th. Robert W. Baird set a $970.00 price objective on shares of United Rentals in a report on Friday, January 30th. JPMorgan Chase & Co. dropped their target price 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. Finally, UBS Group raised shares of United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 price objective on the stock in a research note on Sunday, January 4th. 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 issued a Sell rating to the stock. According to MarketBeat.com, United Rentals currently has a consensus rating of “Moderate Buy” and a consensus price target of $925.59.

United Rentals Stock Down 0.6%

NYSE:URI opened at $864.09 on Wednesday. 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 company has a market cap of $54.44 billion, a PE ratio of 22.34, a PEG ratio of 1.39 and a beta of 1.70. The stock has a 50-day simple moving average of $861.66 and a 200 day simple moving average of $889.22.

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 analysts’ consensus estimates of $11.86 by ($0.77). The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.24 billion. United Rentals had a net margin of 15.49% and a return on equity of 30.35%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the business posted $11.59 EPS. On average, sell-side analysts expect that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals announced that its board has initiated a share buyback plan on Wednesday, January 28th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the construction company to buy up to 8.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

United Rentals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th will be issued a dividend of $1.97 per share. The ex-dividend date is Wednesday, February 11th. This is a positive change from United Rentals’s previous quarterly dividend of $1.79. This represents a $7.88 dividend on an annualized basis and a yield of 0.9%. United Rentals’s dividend payout ratio is presently 20.37%.

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.