Varma Mutual Pension Insurance Co Acquires Shares of 12,335 United Rentals, Inc. $URI

Key Points

• Varma Mutual Pension Insurance Co. acquired 12,335 United Rentals shares worth approximately $13.97 million, while institutional investors collectively own 96.26% of the company.
• United Rentals reported quarterly earnings of $12.76 per share and revenue of $4.41 billion, exceeding analyst estimates; revenue increased 11.8% year over year.
• Analysts maintain a broadly positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $1,246.19. The company also declared a quarterly dividend of $1.97 per share, yielding about 0.7%.

Varma Mutual Pension Insurance Co bought a new position in United Rentals, Inc. (NYSE:URI - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 12,335 shares of the construction company's stock, valued at approximately $13,974,000.

Several other institutional investors have also made changes to their positions in the company. SFE Investment Counsel acquired a new position in shares of United Rentals in the 2nd quarter valued at about $12,765,000. Eventide Asset Management LLC lifted its position in shares of United Rentals by 19.6% in the fourth quarter. Eventide Asset Management LLC now owns 95,940 shares of the construction company's stock worth $77,666,000 after purchasing an additional 15,696 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of United Rentals by 52.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,241 shares of the construction company's stock worth $2,623,000 after purchasing an additional 1,109 shares during the period. Bridges Investment Management Inc. boosted its holdings in shares of United Rentals by 2.0% during the fourth quarter. Bridges Investment Management Inc. now owns 69,583 shares of the construction company's stock worth $56,315,000 after purchasing an additional 1,354 shares during the period. Finally, WINTON GROUP Ltd grew its position in United Rentals by 995.1% during the fourth quarter. WINTON GROUP Ltd now owns 13,612 shares of the construction company's stock valued at $11,016,000 after purchasing an additional 12,369 shares in the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Trading Down 0.3%

Shares of NYSE URI opened at $1,095.21 on Monday. The business has a 50 day simple moving average of $1,099.22 and a 200 day simple moving average of $950.71. United Rentals, Inc. has a 52 week low of $701.59 and a 52 week high of $1,179.18. The stock has a market cap of $68.17 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 1.42 and a beta of 1.80. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.70 and a current ratio of 0.76.

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

United Rentals Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on URI. Truist Financial upped their price objective on shares of United Rentals from $1,421.00 to $1,466.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Wall Street Zen raised shares of United Rentals from a "hold" rating to a "buy" rating in a research note on Saturday, July 25th. Wells Fargo & Company boosted their price target on shares of United Rentals from $1,245.00 to $1,355.00 and gave the company an "overweight" rating in a report on Friday, July 24th. Bank of America upped their price target on shares of United Rentals from $1,195.00 to $1,300.00 and gave the stock a "buy" rating in a research note on Thursday, July 23rd. Finally, KeyCorp reiterated an "overweight" rating and set a $1,350.00 price objective on shares of United Rentals in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, United Rentals currently has an average rating of "Moderate Buy" and an average price target of $1,246.19.

Insider Buying and Selling at United Rentals

In other news, EVP William E. Grace sold 1,500 shares of the firm's stock in a transaction on Friday, July 24th. The shares were 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 owned 6,062 shares in the company, valued at approximately $6,869,155.30. This trade represents a 19.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.47% of the company's stock.

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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