United Rentals, Inc. $URI Shares Sold by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB cut its United Rentals stake by 9.2% in the second quarter, selling 1,788 shares and retaining 17,565 shares valued at approximately $19.9 million. Institutional investors collectively own 96.26% of the company.
• Analyst sentiment is broadly positive, with United Rentals holding a “Moderate Buy” consensus rating and an average price target of $1,246.19. Several firms recently upgraded the stock or raised their targets, including Wells Fargo, which lifted its target to $1,355.
• United Rentals reported a quarterly earnings and revenue beat, with EPS of $12.76 and revenue of $4.41 billion, up 11.8% year over year. The company also announced a $1.97 quarterly dividend, equivalent to a 0.7% yield.

Handelsbanken Fonder AB lowered its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 9.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 17,565 shares of the construction company's stock after selling 1,788 shares during the period. Handelsbanken Fonder AB's holdings in United Rentals were worth $19,899,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Capital World Investors grew its position in United Rentals by 1.1% in the 4th quarter. Capital World Investors now owns 2,708,877 shares of the construction company's stock worth $2,192,357,000 after purchasing an additional 30,263 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of United Rentals by 2.2% during the fourth quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company's stock valued at $1,087,711,000 after buying an additional 28,895 shares during the last quarter. Norges Bank bought a new stake in shares of United Rentals during the fourth quarter valued at approximately $978,017,000. Bank of America Corp DE boosted its position in shares of United Rentals by 14.7% during the first quarter. Bank of America Corp DE now owns 806,380 shares of the construction company's stock worth $587,496,000 after buying an additional 103,371 shares during the period. Finally, Boston Partners boosted its position in shares of United Rentals by 4.0% during the fourth quarter. Boston Partners now owns 774,347 shares of the construction company's stock worth $631,459,000 after buying an additional 29,675 shares during the period. Institutional investors and hedge funds own 96.26% of the company's stock.

Analyst Upgrades and Downgrades

URI has been the subject of a number of recent analyst reports. Weiss Ratings raised United Rentals from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 23rd. Wells Fargo & Company boosted their price target on United Rentals from $1,245.00 to $1,355.00 and gave the stock an "overweight" rating in a research report on Friday, July 24th. Wall Street Zen raised United Rentals from a "hold" rating to a "buy" rating in a research note on Saturday, July 25th. BNP Paribas Exane raised United Rentals from a "neutral" rating to an "outperform" rating and set a $1,320.00 price target on the stock in a report on Monday, June 29th. Finally, Robert W. Baird set a $1,300.00 price objective on shares of United Rentals in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, United Rentals currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,246.19.

United Rentals Price Performance

Shares of NYSE:URI opened at $1,130.92 on Thursday. The stock has a market cap of $70.39 billion, a price-to-earnings ratio of 27.16, a PEG ratio of 1.47 and a beta of 1.80. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.70. United Rentals, Inc. has a 12 month low of $701.59 and a 12 month high of $1,179.18. The stock's 50 day moving average price is $1,092.50 and its 200 day moving average price is $937.46.

United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $11.53 by $1.23. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The firm had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same period last year, the company posted $10.47 EPS. The firm's quarterly revenue was up 11.8% on a year-over-year basis. Equities research analysts anticipate that United Rentals, Inc. will post 48.55 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be paid a dividend of $1.97 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $7.88 annualized dividend and a yield of 0.7%. United Rentals's dividend payout ratio (DPR) is currently 18.92%.

Insider Transactions at United Rentals

In related news, EVP William E. Grace sold 1,500 shares of United Rentals stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the transaction, the executive vice president directly owned 6,062 shares of the company's stock, valued at $6,869,155.30. The trade was a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is currently owned by insiders.

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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