BI Asset Management Fondsmaeglerselskab A S Sells 10,264 Shares of United Rentals, Inc. $URI

Key Points

• BI Asset Management Fondsmaeglerselskab A S cut its United Rentals stake by 52% in the first quarter, selling 10,264 shares and ending with 9,465 shares valued at about $6.9 million.
• United Rentals posted mixed quarterly results: EPS of $9.71 and revenue of $3.98 billion both missed estimates, though revenue still rose 7.2% year over year.
• Analysts remain generally bullish on URI, with 13 Buy ratings and a consensus “Moderate Buy” target of $1,045.81; the stock recently traded near $1,077.68 and the company also paid a quarterly dividend of $1.97 per share.

BI Asset Management Fondsmaeglerselskab A S reduced its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 52.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,465 shares of the construction company's stock after selling 10,264 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in United Rentals were worth $6,896,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Aventura Private Wealth LLC purchased a new position in shares of United Rentals during the 4th quarter valued at $27,000. Core Wealth Advisors LLC bought a new position in United Rentals in the 4th quarter worth $28,000. MV Capital Management Inc. purchased a new stake in United Rentals in the 4th quarter worth $28,000. Board of the Pension Protection Fund purchased a new stake in United Rentals in the 4th quarter worth $32,000. Finally, Laurel Wealth Advisors LLC bought a new stake in United Rentals during the fourth quarter valued at about $32,000. 96.26% of the stock is currently owned by institutional investors.

United Rentals Stock Up 0.1%

Shares of URI stock opened at $1,077.68 on Monday. The stock has a market cap of $67.52 billion, a P/E ratio of 27.49, a PEG ratio of 1.70 and a beta of 1.81. United Rentals, Inc. has a 52 week low of $693.78 and a 52 week high of $1,106.88. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.37. The company's fifty day simple moving average is $953.75 and its two-hundred day simple moving average is $871.73.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing the consensus estimate of $11.47 by ($1.76). United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.20 billion. During the same period last year, the company earned $8.86 EPS. The firm's revenue for the quarter was up 7.2% on a year-over-year basis. Analysts predict that United Rentals, Inc. will post 47.26 EPS for the current fiscal year.

United Rentals Dividend Announcement

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

Insider Transactions at United Rentals

In other news, VP Andrew B. Limoges sold 548 shares of the stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $977.86, for a total transaction of $535,867.28. Following the completion of the transaction, the vice president directly owned 1,865 shares in the company, valued at approximately $1,823,708.90. This represents a 22.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Joli L. Gross sold 306 shares of the firm's stock in a transaction on Monday, April 27th. The shares were sold at an average price of $954.99, for a total transaction of $292,226.94. Following the completion of the transaction, the senior vice president directly owned 5,738 shares of the company's stock, valued at approximately $5,479,732.62. This trade represents a 5.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 26,088 shares of company stock worth $25,628,877. 0.47% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on URI. KeyCorp boosted their price objective on United Rentals from $950.00 to $1,150.00 and gave the company an "overweight" rating in a research report on Friday, April 24th. Truist Financial set a $1,209.00 target price on United Rentals in a research report on Friday, April 24th. Morgan Stanley reissued an "overweight" rating and set a $1,030.00 target price on shares of United Rentals in a research note on Friday, April 24th. Royal Bank Of Canada lifted their target price on United Rentals from $1,041.00 to $1,119.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $1,275.00 price target on shares of United Rentals in a report on Wednesday, June 10th. Thirteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,045.81.

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.

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