SEB Asset Management AB Buys Shares of 18,011 United Rentals, Inc. $URI

Key Points

• SEB Asset Management AB opened a new position in United Rentals during the first quarter, buying 18,011 shares valued at about $13.1 million.
• Wall Street sentiment remains mostly positive, with 14 Buy ratings and a consensus Moderate Buy rating. Analysts’ average target price is $1,140, though one firm recently downgraded the stock to Hold.
• United Rentals reported Q1 EPS of $9.71, missing estimates, and revenue of $3.98 billion, also below expectations. Despite the miss, revenue still rose 7.2% year over year, and the company paid a quarterly dividend of $1.97 per share.

SEB Asset Management AB purchased a new position in United Rentals, Inc. (NYSE:URI - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 18,011 shares of the construction company's stock, valued at approximately $13,122,000.

Other large investors also recently modified their holdings of the company. Aventura Private Wealth LLC acquired a new stake in shares of United Rentals in the fourth quarter worth $27,000. Core Wealth Advisors LLC bought a new position in United Rentals during the fourth quarter worth $28,000. MV Capital Management Inc. acquired a new position in United Rentals during the 4th quarter valued at $28,000. Laurel Wealth Advisors LLC acquired a new position in United Rentals during the 4th quarter valued at $32,000. Finally, Fortitude Family Office LLC boosted its holdings in United Rentals by 121.1% in the 4th quarter. Fortitude Family Office LLC now owns 42 shares of the construction company's stock valued at $34,000 after purchasing an additional 23 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on URI shares. Raymond James Financial restated an "outperform" rating and set a $1,275.00 price objective on shares of United Rentals in a report on Wednesday, June 10th. Royal Bank Of Canada lifted their target price on United Rentals from $1,041.00 to $1,119.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Weiss Ratings lowered United Rentals from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. upped their price target on United Rentals from $1,050.00 to $1,100.00 and gave the company an "overweight" rating in a report on Monday, July 13th. Finally, Truist Financial raised their price objective on United Rentals from $1,209.00 to $1,421.00 and gave the stock a "buy" rating in a research report on Thursday, July 2nd. Fourteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,140.00.

Insider Buying and Selling

In other news, SVP Joli L. Gross sold 306 shares of the business's stock in a transaction on Monday, April 27th. The shares were sold at an average price of $954.99, for a total value of $292,226.94. Following the sale, the senior vice president owned 5,738 shares in the company, valued at approximately $5,479,732.62. The trade was a 5.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Craig Adam Pintoff sold 2,466 shares of the company's stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the completion of the sale, 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 position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 26,088 shares of company stock valued at $25,628,877. 0.47% of the stock is owned by insiders.

United Rentals Stock Down 3.1%

NYSE URI opened at $1,012.39 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37. The stock's 50 day moving average is $1,042.78 and its two-hundred day moving average is $912.44. The company has a market capitalization of $63.43 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 1.67 and a beta of 1.79. United Rentals, Inc. has a 1-year low of $701.59 and a 1-year high of $1,143.69.

United Rentals (NYSE:URI - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $11.47 by ($1.76). The company had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.20 billion. United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The company's quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $8.86 earnings per share. Equities analysts forecast that United Rentals, Inc. will post 46.85 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were given a $1.97 dividend. This represents a $7.88 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Wednesday, May 13th. United Rentals's dividend payout ratio is 20.10%.

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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