Lansforsakringar Fondforvaltning AB publ Trims Position in United Rentals, Inc. $URI

Key Points

• Lansforsakringar Fondforvaltning AB publ cut its United Rentals stake by 16.3% in the first quarter, selling 5,451 shares and ending with 27,959 shares valued at about $20.4 million.
• United Rentals reported mixed quarterly results, with EPS of $9.71 missing estimates of $11.47 and revenue of $3.98 billion below expectations, though revenue still rose 7.2% year over year.
• Wall Street remains generally positive on the stock: analysts have a Moderate Buy consensus with an average target price of $1,096.75, even as some executives and insiders recently sold shares.

Lansforsakringar Fondforvaltning AB publ trimmed its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 16.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,959 shares of the construction company's stock after selling 5,451 shares during the period. Lansforsakringar Fondforvaltning AB publ's holdings in United Rentals were worth $20,370,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Capital International Investors increased its stake 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 buying an additional 631,484 shares in the last quarter. Capital World Investors lifted its position in shares of United Rentals by 1.1% in the fourth quarter. Capital World Investors now owns 2,708,877 shares of the construction company's stock valued at $2,192,357,000 after acquiring an additional 30,263 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of United Rentals by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company's stock worth $1,087,711,000 after acquiring an additional 28,895 shares during the period. Norges Bank bought a new position in shares of United Rentals in the fourth quarter worth about $978,017,000. Finally, Alliancebernstein L.P. grew its position in shares of United Rentals by 5.6% during the third quarter. Alliancebernstein L.P. now owns 1,088,209 shares of the construction company's stock worth $1,038,870,000 after purchasing an additional 57,977 shares in the last quarter. Hedge funds and other institutional investors own 96.26% of the company's stock.

United Rentals Price Performance

United Rentals stock opened at $1,133.64 on Wednesday. The company has a market cap of $71.02 billion, a price-to-earnings ratio of 28.92, a PEG ratio of 1.79 and a beta of 1.81. The firm's fifty day moving average is $1,000.42 and its 200 day moving average is $886.92. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.37. 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 issued its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing analysts' consensus estimates of $11.47 by ($1.76). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The business had revenue of $3.98 billion during the quarter, compared to analysts' expectations of $4.20 billion. During the same period in the previous year, the business earned $8.86 earnings per share. The business's quarterly revenue was up 7.2% on a year-over-year basis. Sell-side analysts forecast that United Rentals, Inc. will post 46.76 EPS for the current fiscal year.

United Rentals Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Sanford C. Bernstein set a $903.00 target price on United Rentals and gave the company an "outperform" rating in a research note on Thursday, April 9th. Morgan Stanley reaffirmed an "overweight" rating and set a $1,030.00 price objective on shares of United Rentals in a report on Friday, April 24th. Royal Bank Of Canada boosted their target price on shares of United Rentals from $1,041.00 to $1,119.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Weiss Ratings upgraded shares of United Rentals from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, June 24th. Finally, UBS Group raised their target price on shares of United Rentals from $1,025.00 to $1,145.00 and gave the company a "buy" rating in a research note on Wednesday, June 3rd. Fifteen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,096.75.

Insider Buying and Selling

In other news, VP Andrew B. Limoges sold 548 shares of the firm's stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $977.86, for a total value of $535,867.28. Following the completion of the sale, the vice president directly owned 1,865 shares of the company's stock, valued at $1,823,708.90. This trade represents a 22.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew John Flannery sold 22,768 shares of United Rentals stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer 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 position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 26,088 shares of company stock valued at $25,628,877. Insiders own 0.47% of the company's stock.

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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