United Rentals, Inc. $URI Shares Bought by Tredje AP fonden

Key Points

• Tredje AP fonden boosted its United Rentals stake by 1,018.8% in the fourth quarter, ending with 70,754 shares valued at about $57.3 million.
• United Rentals reported weaker-than-expected quarterly results, with EPS of $9.71 versus $11.47 expected and revenue of $3.99 billion versus $4.20 billion expected, though revenue still rose 7.2% year over year.
• The company’s board authorized a $5 billion share buyback and it also declared a quarterly dividend of $1.97 per share, while analysts remain generally positive with a consensus rating of Moderate Buy.

Tredje AP fonden lifted its holdings in United Rentals, Inc. (NYSE:URI - Free Report) by 1,018.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,754 shares of the construction company's stock after purchasing an additional 64,430 shares during the period. Tredje AP fonden owned about 0.11% of United Rentals worth $57,263,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aventura Private Wealth LLC acquired a new position in shares of United Rentals in the fourth quarter worth about $27,000. Abich Financial Wealth Management LLC acquired a new stake in United Rentals in the third quarter valued at approximately $29,000. Board of the Pension Protection Fund bought a new position in shares of United Rentals in the fourth quarter valued at approximately $32,000. Laurel Wealth Advisors LLC bought a new position in United Rentals during the fourth quarter worth $32,000. Finally, Fortitude Family Office LLC increased its position in United Rentals by 121.1% during the fourth quarter. Fortitude Family Office LLC now owns 42 shares of the construction company's stock worth $34,000 after acquiring an additional 23 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other United Rentals news, EVP Craig Adam Pintoff sold 2,466 shares of the firm's stock in a transaction on 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 owned 14,774 shares of the company's stock, valued at $14,227,362. This trade represents a 14.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Joli L. Gross sold 306 shares of the firm'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 directly owned 5,738 shares of the company's stock, valued at $5,479,732.62. This represents a 5.06% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 26,088 shares of company stock worth $25,628,877. 0.47% of the stock is owned by corporate insiders.

United Rentals Price Performance

Shares of URI opened at $944.22 on Tuesday. The stock has a market capitalization of $59.16 billion, a P/E ratio of 24.09, a P/E/G ratio of 1.53 and a beta of 1.83. United Rentals, Inc. has a twelve month low of $681.98 and a twelve month high of $1,021.47. The company has a 50 day moving average of $820.05 and a 200-day moving average of $839.22. 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 (NYSE:URI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing the consensus estimate of $11.47 by ($1.76). The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.20 billion. United Rentals had a return on equity of 30.56% and a net margin of 15.32%.United Rentals's revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned $8.86 earnings per share. As a group, equities research analysts forecast that United Rentals, Inc. will post 47.07 EPS for the current fiscal year.

United Rentals announced that its board has authorized a share buyback program on Wednesday, January 28th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the construction company to reacquire up to 8.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board believes its shares are undervalued.

United Rentals Dividend Announcement

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

Wall Street Analyst Weigh In

URI has been the topic of several recent analyst reports. Truist Financial set a $1,209.00 target price on shares of United Rentals in a research note on Friday, April 24th. JPMorgan Chase & Co. upped their price target on shares of United Rentals from $850.00 to $1,050.00 and gave the stock an "overweight" rating in a research report on Friday, April 24th. KeyCorp boosted their price objective on United Rentals from $950.00 to $1,150.00 and gave the stock an "overweight" rating in a report on Friday, April 24th. Sanford C. Bernstein set a $903.00 price objective on United Rentals and gave the stock an "outperform" rating in a report on Thursday, April 9th. Finally, Evercore reissued an "outperform" rating and issued a $1,101.00 price target on shares of United Rentals in a report on Monday, May 11th. Thirteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $996.94.

United Rentals Company 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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