Fjarde AP Fonden Fourth Swedish National Pension Fund Raises Stock Position in United Rentals, Inc. $URI

Key Points

• Fjarde AP Fonden increased its stake in United Rentals by 54.6% in the first quarter, ending with 15,006 shares valued at about $10.9 million.
• United Rentals reported quarterly results that missed analyst expectations, with EPS of $9.71 versus $11.47 expected and revenue of $3.98 billion versus $4.20 billion projected, though revenue still rose 7.2% year over year.
• Several analysts raised price targets on URI, and the stock has a consensus rating of Moderate Buy with an average target price of $1,119.69, while insiders have also been selling shares recently.

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in United Rentals, Inc. (NYSE:URI - Free Report) by 54.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,006 shares of the construction company's stock after buying an additional 5,300 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in United Rentals were worth $10,933,000 at the end of the most recent reporting period.

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

Insider Activity

In other United Rentals news, EVP Craig Adam Pintoff sold 2,466 shares of the business's stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $963.00, for a total value of $2,374,758.00. Following the completion of the transaction, the executive vice president directly owned 14,774 shares in the company, valued at approximately $14,227,362. The trade was a 14.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Joli L. Gross sold 306 shares of the business's stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $954.99, for a total transaction of $292,226.94. Following the transaction, the senior vice president 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 position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 26,088 shares of company stock valued at $25,628,877. Company insiders own 0.47% of the company's stock.

United Rentals Stock Up 0.2%

Shares of NYSE:URI opened at $1,100.43 on Friday. United Rentals, Inc. has a 52-week low of $701.59 and a 52-week high of $1,143.69. 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 business's 50 day moving average is $1,018.24 and its 200 day moving average is $892.34. The stock has a market cap of $68.94 billion, a P/E ratio of 28.07, a price-to-earnings-growth ratio of 1.76 and a beta of 1.79.

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 firm had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The business's revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.86 earnings per share. Sell-side analysts predict that United Rentals, Inc. will post 46.76 EPS for the current year.

United Rentals Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on URI shares. JPMorgan Chase & Co. boosted their price target on United Rentals from $850.00 to $1,050.00 and gave the company an "overweight" rating in a report on Friday, April 24th. Citigroup lifted their price target on shares of United Rentals from $950.00 to $1,130.00 and gave the company a "buy" rating in a report on Friday, April 24th. Robert W. Baird upped their price objective on United Rentals from $970.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Sanford C. Bernstein set a $903.00 price target on shares of United Rentals and gave the company an "outperform" rating in a report on Thursday, April 9th. Finally, Truist Financial lifted their price objective on shares of United Rentals from $1,209.00 to $1,421.00 and gave the stock a "buy" rating in a research note on Thursday. Fifteen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, United Rentals currently has an average rating of "Moderate Buy" and a consensus target price of $1,119.69.

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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