Lansforsakringar Fondforvaltning AB publ Has $32.83 Million Stake in United Rentals, Inc. $URI

Lansforsakringar Fondforvaltning AB publ lifted its holdings in United Rentals, Inc. (NYSE:URI) by 3.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,388 shares of the construction company’s stock after buying an additional 1,095 shares during the period. Lansforsakringar Fondforvaltning AB publ owned about 0.05% of United Rentals worth $32,829,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. TD Waterhouse Canada Inc. raised its position in shares of United Rentals by 73.3% during the third quarter. TD Waterhouse Canada Inc. now owns 5,740 shares of the construction company’s stock worth $5,533,000 after acquiring an additional 2,428 shares during the last quarter. National Pension Service boosted its stake in United Rentals by 4.5% in the third quarter. National Pension Service now owns 103,146 shares of the construction company’s stock valued at $98,469,000 after acquiring an additional 4,415 shares during the last quarter. North Growth Management Ltd. boosted its holdings in United Rentals by 22.2% during the third quarter. North Growth Management Ltd. now owns 11,000 shares of the construction company’s stock worth $10,189,000 after buying an additional 2,000 shares during the last quarter. HB Wealth Management LLC grew its position in shares of United Rentals by 37.2% during the 3rd quarter. HB Wealth Management LLC now owns 6,608 shares of the construction company’s stock worth $6,308,000 after buying an additional 1,790 shares during the period. Finally, Vise Technologies Inc. acquired a new position in shares of United Rentals during the 2nd quarter worth about $7,514,000. 96.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on URI. Robert W. Baird set a $970.00 price objective on shares of United Rentals in a research note on Friday, January 30th. Wells Fargo & Company raised their target price on shares of United Rentals from $995.00 to $1,071.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of United Rentals in a report on Wednesday, January 21st. Truist Financial set a $972.00 target price on shares of United Rentals in a research note on Friday, January 30th. Finally, Sanford C. Bernstein set a $965.00 price target on United Rentals in a research note on Friday, January 30th. Two 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 stock. Based on data from MarketBeat.com, United Rentals currently has a consensus rating of “Moderate Buy” and an average 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 transaction of $1,969,938.60. Following the completion of the sale, 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 legal filing with the SEC, which is available at this hyperlink. Also, EVP William E. Grace sold 1,498 shares of the business’s stock in a transaction 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 SEC filing for this sale provides additional information. Company insiders own 0.53% of the company’s stock.

United Rentals Stock Up 2.1%

URI stock opened at $908.05 on Friday. The company has a market cap of $57.21 billion, a price-to-earnings ratio of 23.48, a P/E/G ratio of 1.46 and a beta of 1.70. United Rentals, Inc. has a twelve month low of $525.91 and a twelve month high of $1,021.47. The business has a 50 day moving average price of $865.87 and a two-hundred day moving average price of $889.57. 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 (NYSE:URI) last announced its quarterly earnings data on Wednesday, January 28th. The construction company reported $11.09 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $4.24 billion. During the same period last year, the business earned $11.59 EPS. The business’s revenue was up 2.8% on a year-over-year basis. Analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th will be given a $1.97 dividend. The ex-dividend date of this dividend is Wednesday, February 11th. This is a boost from United Rentals’s previous quarterly dividend of $1.79. This represents a $7.88 annualized dividend and a dividend yield of 0.9%. United Rentals’s payout ratio is currently 20.37%.

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

About United Rentals

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.