United Rentals, Inc. $URI Shares Acquired by Swedbank AB

Key Points

• United Rentals missed quarterly estimates, reporting EPS of $9.71 versus $11.47 expected and revenue of $3.99B versus $4.20B expected, though analysts remain largely bullish with an average price target of $986.35 (13 Buys, 3 Holds, 1 Sell).
• Company insiders sold a total of 26,088 shares worth about $25.63M last quarter, including CEO Matthew Flannery’s sale of 22,768 shares (~$22.43M), reducing his stake by 18.55%.
• The Board authorized a $5.0 billion share buyback (up to 8.7% of shares) and declared a quarterly dividend of $1.97 per share (annualized $7.88; yield ~0.8%).

Swedbank AB raised its position in United Rentals, Inc. (NYSE:URI - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,674 shares of the construction company's stock after purchasing 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 filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Aventura Private Wealth LLC acquired a new stake in United Rentals in the fourth quarter valued at $27,000. Abich Financial Wealth Management LLC acquired a new stake in United Rentals in the third quarter valued at $29,000. Cedar Mountain Advisors LLC acquired a new stake in United Rentals in the third quarter valued at $32,000. Board of the Pension Protection Fund acquired a new stake in United Rentals in the fourth quarter valued at $32,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in United Rentals in the fourth quarter valued at $32,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other United Rentals news, 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 sale, the chief executive officer owned 99,980 shares of the company's stock, valued at approximately $98,478,300.40. The trade was a 18.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Craig Adam Pintoff sold 2,466 shares of United Rentals stock in a transaction that occurred on 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 sale, the executive vice president directly owned 14,774 shares in the company, valued at $14,227,362. This represents a 14.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 26,088 shares of company stock worth $25,628,877 over the last quarter. 0.47% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on URI. Robert W. Baird raised their price target on United Rentals from $970.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. JPMorgan Chase & Co. lifted their target price on United Rentals from $850.00 to $1,050.00 and gave the stock an "overweight" rating in a research report on Friday, April 24th. 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. Morgan Stanley reiterated an "overweight" rating and set a $1,030.00 target price on shares of United Rentals in a research report on Friday, April 24th. Finally, Weiss Ratings cut United Rentals from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $986.35.

United Rentals Stock Performance

NYSE URI opened at $942.69 on Friday. 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 $656.95 and a 52-week high of $1,021.47. The business's 50-day moving average price is $805.22 and its 200 day moving average price is $838.92. The firm has a market cap of $59.06 billion, a P/E ratio of 24.05, a P/E/G ratio of 1.53 and a beta of 1.83.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly 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). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The company had revenue of $3.99 billion for the quarter, compared to analysts' expectations of $4.20 billion. During the same period in the prior year, the business earned $8.86 EPS. The business's quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts expect that United Rentals, Inc. will post 46.99 earnings per share for the current year.

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

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th will be issued a dividend of $1.97 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.8%. United Rentals's dividend payout ratio (DPR) is currently 20.10%.

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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