AMF Tjanstepension AB Makes New $60.25 Million Investment in United Rentals, Inc. $URI

Key Points

• AMF Tjanstepension AB opened a new position in United Rentals during the first quarter, buying 82,696 shares worth about $60.25 million.
• Several large institutional investors also increased their stakes, and institutions now own 96.26% of the company, while insiders own just 0.47%.
• United Rentals has mixed recent results: its latest quarterly earnings and revenue missed estimates, but analysts remain broadly positive with a Moderate Buy consensus and an average price target of $1,124.69.

AMF Tjanstepension AB purchased a new position in shares of United Rentals, Inc. (NYSE:URI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 82,696 shares of the construction company's stock, valued at approximately $60,249,000. AMF Tjanstepension AB owned 0.13% of United Rentals as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. Beacon Investment Advisory Services Inc. grew its position in shares of United Rentals by 1,358.7% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 8,227 shares of the construction company's stock worth $6,658,000 after buying an additional 7,663 shares during the period. Nordea Investment Management AB lifted its position in United Rentals by 22.7% during the 4th quarter. Nordea Investment Management AB now owns 154,688 shares of the construction company's stock valued at $126,362,000 after acquiring an additional 28,604 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in United Rentals by 18.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,756 shares of the construction company's stock worth $9,514,000 after acquiring an additional 1,846 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in United Rentals by 1.4% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 367,814 shares of the construction company's stock worth $351,128,000 after acquiring an additional 5,115 shares in the last quarter. Finally, Addenda Capital Inc. boosted its stake in United Rentals by 21.3% during the fourth quarter. Addenda Capital Inc. now owns 16,739 shares of the construction company's stock worth $13,547,000 after acquiring an additional 2,939 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company's stock.

Insider Activity at United Rentals

In other United Rentals news, CEO Matthew John Flannery sold 22,768 shares of the firm's stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $984.98, for a total value of $22,426,024.64. Following the transaction, the chief executive officer directly owned 99,980 shares of the company's stock, valued at approximately $98,478,300.40. This trade represents a 18.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Joli L. Gross sold 306 shares of the company's stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $954.99, for a total transaction of $292,226.94. Following the sale, the senior vice president directly owned 5,738 shares of the company's stock, valued at $5,479,732.62. The trade was a 5.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 26,088 shares of company stock valued at $25,628,877 in the last quarter. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on URI. Robert W. Baird boosted their price target on United Rentals from $970.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Morgan Stanley reiterated an "overweight" rating and set a $1,030.00 price objective on shares of United Rentals in a research note on Friday, April 24th. Royal Bank Of Canada boosted their target price on United Rentals from $1,041.00 to $1,119.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Truist Financial increased their target price on United Rentals from $1,209.00 to $1,421.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Finally, Sanford C. Bernstein set a $903.00 price target on United Rentals and gave the company an "outperform" rating in a report on Thursday, April 9th. Fourteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,124.69.

United Rentals Price Performance

URI opened at $1,096.69 on Monday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80. The stock has a market capitalization of $68.70 billion, a P/E ratio of 27.98, a P/E/G ratio of 1.75 and a beta of 1.79. The company's 50-day simple moving average is $1,029.74 and its two-hundred day simple moving average is $902.60. United Rentals, Inc. has a 52-week low of $701.59 and a 52-week high of $1,143.69.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing the consensus estimate of $11.47 by ($1.76). The company had revenue of $3.98 billion for the quarter, compared to analysts' expectations of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The firm's revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $8.86 earnings per share. As a group, analysts predict that United Rentals, Inc. will post 46.7 EPS for the current year.

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were paid a dividend of $1.97 per share. The ex-dividend date was Wednesday, May 13th. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. United Rentals's payout ratio is currently 20.10%.

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.

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