Swedbank AB Increases Stake in United Rentals, Inc. $URI

Key Points

• Swedbank AB boosted its stake in United Rentals by 2.8% in the fourth quarter, ending with 54,674 shares valued at about $44.25 million. Institutional investors still own the vast majority of the company, at 96.26%.
• United Rentals reported mixed quarterly results on April 22, posting EPS of $9.71 versus the $11.47 estimate and revenue of $3.99 billion versus the $4.20 billion consensus. Revenue still rose 7.2% year over year, and analysts expect full-year EPS of 47.07.
• The company is returning capital through buybacks and dividends, with a new $5 billion share repurchase authorization and a quarterly dividend of $1.97 per share. Several analysts remain upbeat, with a consensus rating of “Moderate Buy” and an average price target of $996.94.

Swedbank AB lifted its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,674 shares of the construction company's stock after acquiring an additional 1,509 shares during the period. Swedbank AB owned 0.09% of United Rentals worth $44,249,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Aventura Private Wealth LLC purchased a new position in shares of United Rentals during the 4th quarter worth about $27,000. Abich Financial Wealth Management LLC purchased a new position in United Rentals in the third quarter valued at approximately $29,000. Board of the Pension Protection Fund purchased a new position in United Rentals in the fourth quarter valued at approximately $32,000. Laurel Wealth Advisors LLC purchased a new position in United Rentals in the fourth quarter valued at approximately $32,000. Finally, Fortitude Family Office LLC raised its holdings in United Rentals by 121.1% in the fourth quarter. Fortitude Family Office LLC now owns 42 shares of the construction company's stock valued at $34,000 after buying an additional 23 shares during the period. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

United Rentals Stock Up 0.1%

Shares of NYSE:URI opened at $939.20 on Monday. 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 $681.98 and a 52-week high of $1,021.47. The company has a 50 day moving average of $830.99 and a two-hundred day moving average of $841.15. The company has a market capitalization of $58.84 billion, a price-to-earnings ratio of 23.96, a price-to-earnings-growth ratio of 1.49 and a beta of 1.83.

United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (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 firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.20 billion. During the same period last year, the business earned $8.86 EPS. The firm's revenue was up 7.2% compared to the same quarter last year. As a group, analysts forecast that United Rentals, Inc. will post 47.07 earnings per share for the current fiscal year.

United Rentals announced that its Board of Directors has initiated a stock buyback plan on Wednesday, January 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the construction company to reacquire up to 8.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th will be given a $1.97 dividend. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $7.88 annualized dividend and a yield of 0.8%. United Rentals's dividend payout ratio (DPR) is 20.10%.

Insider Activity

In other United Rentals news, SVP Joli L. Gross sold 306 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 5,738 shares of the company's stock, valued at $5,479,732.62. This trade represents a 5.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Craig Adam Pintoff sold 2,466 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were 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 of the company's stock, valued at $14,227,362. This trade represents a 14.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 26,088 shares of company stock worth $25,628,877 over the last three months. Insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

URI has been the topic of several research reports. 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. Morgan Stanley restated an "overweight" rating and issued a $1,030.00 price target on shares of United Rentals in a report on Friday, April 24th. JPMorgan Chase & Co. raised their price target on shares of United Rentals from $850.00 to $1,050.00 and gave the company an "overweight" rating in a report on Friday, April 24th. Royal Bank Of Canada raised their price target on shares of United Rentals from $1,041.00 to $1,119.00 and gave the company an "outperform" rating in a report on Friday, April 24th. Finally, Truist Financial set a $1,209.00 price target on shares of United Rentals in a report on Friday, April 24th. Thirteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $996.94.

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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