Livforsakringsbolaget Skandia Omsesidigt Reduces Stock Holdings in United Rentals, Inc. $URI

Key Points

• Livforsakringsbolaget Skandia Omsesidigt has significantly decreased its stake in United Rentals, by 97.6%, ending up with only 497 shares valued at $374,000 after selling 19,900 shares in the second quarter.
• Multiple institutional investors, including Vanguard and JPMorgan Chase & Co., have increased their holdings in United Rentals, contributing to 96.26% of the stock being owned by institutional investors and hedge funds.
• Analysts have set new target prices for United Rentals, with a consensus rating of "Moderate Buy" and a target price averaging around $850.00, amidst mixed ratings from various research firms.

Livforsakringsbolaget Skandia Omsesidigt lessened its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 97.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 497 shares of the construction company's stock after selling 19,900 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in United Rentals were worth $374,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of URI. GAMMA Investing LLC lifted its holdings in shares of United Rentals by 77,674.5% in the first quarter. GAMMA Investing LLC now owns 887,407 shares of the construction company's stock valued at $556,138,000 after buying an additional 886,266 shares during the period. Nuveen LLC acquired a new stake in shares of United Rentals in the first quarter valued at $402,291,000. JPMorgan Chase & Co. lifted its holdings in shares of United Rentals by 98.1% in the first quarter. JPMorgan Chase & Co. now owns 1,093,805 shares of the construction company's stock valued at $685,488,000 after buying an additional 541,579 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of United Rentals by 28.8% in the first quarter. The Manufacturers Life Insurance Company now owns 849,786 shares of the construction company's stock valued at $532,561,000 after buying an additional 190,007 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of United Rentals by 22.3% in the first quarter. Goldman Sachs Group Inc. now owns 661,251 shares of the construction company's stock valued at $414,406,000 after buying an additional 120,449 shares during the period. Institutional investors and hedge funds own 96.26% of the company's stock.

United Rentals Price Performance

NYSE:URI traded down $1.53 during trading hours on Friday, reaching $941.26. 1,035,014 shares of the company were exchanged, compared to its average volume of 515,625. The company has a market capitalization of $60.56 billion, a P/E ratio of 24.34, a P/E/G ratio of 2.18 and a beta of 1.72. United Rentals, Inc. has a 1-year low of $525.91 and a 1-year high of $980.53. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.86 and a quick ratio of 0.80. The business has a 50 day moving average of $900.44 and a 200 day moving average of $749.45.

United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The construction company reported $10.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $10.54 by ($0.07). The company had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.90 billion. United Rentals had a return on equity of 32.01% and a net margin of 16.11%.The company's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $10.70 EPS. United Rentals has set its FY 2025 guidance at EPS. Research analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th were paid a dividend of $1.79 per share. The ex-dividend date was Wednesday, August 13th. This represents a $7.16 annualized dividend and a yield of 0.8%. United Rentals's dividend payout ratio is presently 18.52%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on URI. Morgan Stanley boosted their target price on United Rentals from $702.00 to $955.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. UBS Group upped their target price on United Rentals from $780.00 to $835.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. KeyCorp upped their price target on United Rentals from $960.00 to $1,075.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. Evercore ISI restated an "outperform" rating on shares of United Rentals in a research note on Tuesday, August 19th. Finally, Bank of America raised their price objective on United Rentals from $895.00 to $900.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $850.00.

United Rentals Profile

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.