Swedbank AB Decreases Stock Position in United Rentals, Inc. $URI

Swedbank AB trimmed its position in shares of United Rentals, Inc. (NYSE:URI) by 4.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 53,165 shares of the construction company’s stock after selling 2,219 shares during the quarter. Swedbank AB’s holdings in United Rentals were worth $50,755,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Optas LLC lifted its holdings in shares of United Rentals by 0.9% in the 3rd quarter. Optas LLC now owns 1,174 shares of the construction company’s stock worth $1,121,000 after acquiring an additional 10 shares during the last quarter. CreativeOne Wealth LLC raised its position in United Rentals by 0.5% in the 2nd quarter. CreativeOne Wealth LLC now owns 2,283 shares of the construction company’s stock worth $1,720,000 after purchasing an additional 11 shares during the period. OFI Invest Asset Management lifted its stake in United Rentals by 6.7% in the third quarter. OFI Invest Asset Management now owns 175 shares of the construction company’s stock worth $167,000 after purchasing an additional 11 shares during the last quarter. Great Valley Advisor Group Inc. boosted its position in shares of United Rentals by 2.9% during the second quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock valued at $292,000 after buying an additional 11 shares during the period. Finally, Bank of Jackson Hole Trust grew its stake in shares of United Rentals by 12.0% during the second quarter. Bank of Jackson Hole Trust now owns 112 shares of the construction company’s stock valued at $84,000 after buying an additional 12 shares during the last quarter. Institutional investors own 96.26% of the company’s stock.

Analysts Set New Price Targets

URI has been the subject of a number of research analyst reports. Royal Bank Of Canada set a $1,123.00 price target on United Rentals in a research note on Friday, October 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of United Rentals in a research note on Wednesday, October 8th. Truist Financial cut their price target on shares of United Rentals from $1,169.00 to $1,045.00 and set a “buy” rating on the stock in a report on Thursday, December 18th. Wells Fargo & Company initiated coverage on shares of United Rentals in a research note on Thursday, November 13th. They issued an “overweight” rating and a $995.00 price target on the stock. Finally, Citigroup lowered their price objective on shares of United Rentals from $1,140.00 to $950.00 and set a “buy” rating for the company in a research report on Thursday, December 11th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have assigned 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 target price of $954.83.

United Rentals Trading Up 0.8%

NYSE URI opened at $824.77 on Thursday. United Rentals, Inc. has a one year low of $525.91 and a one year high of $1,021.47. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.84 and a current ratio of 0.90. The company has a market capitalization of $52.48 billion, a price-to-earnings ratio of 21.21, a price-to-earnings-growth ratio of 1.86 and a beta of 1.68. The company’s 50-day simple moving average is $845.40 and its two-hundred day simple moving average is $862.61.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, October 22nd. The construction company reported $11.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.43 by ($0.73). The business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.16 billion. United Rentals had a net margin of 15.83% and a return on equity of 31.30%. United Rentals’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $11.80 earnings per share. Equities analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th were given a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, November 12th. United Rentals’s payout ratio is presently 18.42%.

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.