Swiss Life Asset Management Ltd Buys 2,223 Shares of United Rentals, Inc. $URI

Swiss Life Asset Management Ltd grew its position in United Rentals, Inc. (NYSE:URI) by 10.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 24,480 shares of the construction company’s stock after acquiring an additional 2,223 shares during the period. Swiss Life Asset Management Ltd’s holdings in United Rentals were worth $23,370,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of URI. Capital International Investors increased its holdings in United Rentals by 22.8% in the 3rd quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock worth $3,247,762,000 after purchasing an additional 631,484 shares in the last quarter. Capital World Investors grew its holdings in shares of United Rentals by 6.7% during the third quarter. Capital World Investors now owns 2,678,614 shares of the construction company’s stock worth $2,557,158,000 after purchasing an additional 168,685 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in United Rentals by 71.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,874,127 shares of the construction company’s stock valued at $1,411,968,000 after buying an additional 780,322 shares during the last quarter. Franklin Resources Inc. boosted its position in United Rentals by 6.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,315,086 shares of the construction company’s stock worth $1,255,460,000 after buying an additional 83,978 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in United Rentals by 5.6% during the 3rd quarter. Alliancebernstein L.P. now owns 1,088,209 shares of the construction company’s stock worth $1,038,870,000 after acquiring an additional 57,977 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insider Buying and Selling

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 stock was sold at an average price of $791.14, for a total value of $1,969,938.60. Following the completion of the sale, the executive vice president owned 7,458 shares of the company’s stock, valued at approximately $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 accessible 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 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. Company insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on URI shares. 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. Royal Bank Of Canada reduced their price target on United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating on the stock in a research report on Friday, January 30th. Truist Financial set a $972.00 price objective on United Rentals in a research report on Friday, January 30th. Robert W. Baird set a $970.00 price objective on United Rentals in a research note on Friday, January 30th. Finally, Sanford C. Bernstein set a $965.00 target price on United Rentals in a report on Friday, January 30th. Two research 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 issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $925.59.

United Rentals Stock Performance

NYSE:URI opened at $720.91 on Friday. 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, Inc. has a twelve month low of $525.91 and a twelve month high of $1,021.47. The company has a fifty day moving average of $854.75 and a 200-day moving average of $875.33. The firm has a market capitalization of $45.42 billion, a P/E ratio of 18.64, a P/E/G ratio of 1.17 and a beta of 1.66.

United Rentals (NYSE:URI) last issued its earnings results 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 the consensus estimate of $4.24 billion. During the same period in the prior year, the company earned $11.59 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current year.

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

United Rentals Increases Dividend

The company also recently declared 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. This is an increase from United Rentals’s previous quarterly dividend of $1.79. 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%. United Rentals’s dividend payout ratio (DPR) is currently 20.37%.

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.